sharizap Posted April 19, 2007 Report Share Posted April 19, 2007 I have a car loan through a small local credit union. I have had other loans through them and paid on time. During the life of this loan I got behind on some payments, but for the past year & a half or so have been making regular payments, even though there was still a past due amount. Recently I sent a lump sum payment to bring it current, and I have about 6 payments left on the car loan. I had planned to write a GW letter to ask them to delete the negs, thinking that I had a pretty good shot at accomplishing this since I've been a member there for so long (literally since childhood) and b/c of the rest of my family being active members as well. But it just occurred to me- they can't do this while the account is still active, can they? If I'm reading all the info correctly, they have to report accurate info, (or not at all) and if it's still an open, active account, then it would have to show the lates, right? So doing a GW letter now would be sort of a waste of time? I'm going to have to get another car when this one is paid off. (I'm in sales & drive a LOT- this one is limping along and I'm hoping and praying it lasts that long.) The CU is one of the resources available to me to finance a new car, but I'm working hard to repair my credit so that by then I'll have other options, hopefully with better interest rates. Should I just wait till the loan is paid off to ask them to stop reporting? Link to comment Share on other sites More sharing options...
stancil1 Posted April 19, 2007 Report Share Posted April 19, 2007 I have an open Ford Motor Credit account that they fixed for me. My situation was similar to yours. They just deleted the lates so that it appears that they didn't report anything for the 3 months that I was late. So it can work Link to comment Share on other sites More sharing options...
sharizap Posted April 19, 2007 Author Report Share Posted April 19, 2007 What did you ask them to do? How did you approach it? The standard GW letter from CIC? *a spark of hope!*I really feel that if I word it right, and it is within their power and not illegal to do, that I have a good shot at getting this done. These are people that I know personally- they know my mom, etc. And I have a good reason- well, a reason anyway. And I've been making regular payments. I just started worrying that they wouldn't be able to do it b/c of the whole 'reporting accurate info' thing. Thanks!! Link to comment Share on other sites More sharing options...
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