17 replies to this topic

[BoostMyScore]

I have been diligently asking for a goodwill adjustment to my CR for a few lates from Wells Fargo Home Mortgage. I got a reply back that says....


Unfortunately, we are unable to remove any past credit reporting on your account as we are required by law to report the date and manner in which your payments fairly and accurately.


So WFHM is telling me that they have NEVER removed any late marks they had previously reported on a customers CR because it would be against the law.

[jazzpetals]

I got the same reply from GE Money Bank for my Care Credit account. They think we are stupid enough to actually believe that.

[BoostMyScore]

I am going to ask them to cite the law and explain it in detail to me.

[Dolemite_73]

Per the FCRA, there is no requirement to report a tradeline (barring some mortgages and student loans) but what they do report must be of maximum accuracy. So if they choose to report the tradeline, it has to be accurate. So if they will not adjust the late marks, see if they will delete the tradeline.

[BoostMyScore]

Wells Fargo received $25,000,000,000 from the gov in 2009 from taxpayers like me. Sadly there are thousands of homeowners defaulting on their Wells Fargo mortgages and going into foreclosure. I am current on my mortgage and am asking for a few late marks to be removed as an act of goodwill and they just sit back and tell me to piss off. Wow, what a POS company that doesn't give a crap about its' customers.

Edited by BoostMyScore, 21 October 2010 - 07:22 AM.

[RadioRob]

Just to put this a bit further into perspective... if this was ILLEGAL, the US Dept of Education would not do this.

Their loan rehabilitation program (http://www2.ed.gov/o...bilitation.html) basically allows defaulted borrowers to wipe the slate clean after defaulting a student loan. They remove the default and all the baddies associated with it.

(I know it works as well because I did this myself.)

The reporting bureaus have rules that say you should not remove accurate info, but there is nothing in the LAW that says you have to report negative info... only that you report ACCURATE info.

[Rebuilding2010]

Wells Fargo received $25,000,000,000 from the gov in 2009 from taxpayers like me. Sadly there are thousands of homeowners defaulting on their Wells Fargo mortgages and going into foreclosure. I am current on my mortgage and am asking for a few late marks to be removed as an act of goodwill and they just sit back and tell me to piss off. Wow, what a POS company that doesn't give a crap about its' customers.

I understand the frustrution, I was in the same boat with Wells Fargo myself, but you can't really get upset at them for not doing something they're not obligated to do. Like you said it is a gw gesture. What you should be upset about is the things they tell you just to get you off the phone, like that it's against the law, although as someone pointed out earlier, it kind of is, legally they could just delete the tradeline though. I guess in your case they can't because it's not technically closed. idk. I just trip out on people getting pissed off at some things, like if Lindsay Lohan was to get upset that she was going to jail when she broke probation.

Not trying to start a fight here just expressing my opinion. To contribute to the conversation though, can I suggest doing a 623 to see if that would get it off? Or does that not apply to mortgages?

[tiggerlgh]

Wells Fargo received $25,000,000,000 from the gov in 2009 from taxpayers like me. Sadly there are thousands of homeowners defaulting on their Wells Fargo mortgages and going into foreclosure. I am current on my mortgage and am asking for a few late marks to be removed as an act of goodwill and they just sit back and tell me to piss off. Wow, what a POS company that doesn't give a crap about its' customers.

Yeah and they paid that money back plus interest so you as a Taxpayer made money off that transaction. As stated in this post this is Goodwill gesture that they don't have to do. They are obligated to report your mortgage correctly and it sounds like they are.

[BoostMyScore]

I haven't tried a 623 letter yet. After doing a little reading, I don't think the 623 excludes mortgage accounts. After trying a GW to WFHM and disputing the late's with the CRA's, I feel nothing is going to get these late's removed.

I can now see that my goal to cleanup my CR in order to sell my home and purchase a different home next year is an utter waste of time.

Nelnet and Wells Fargo can both go eat you know what together. I hate both of these companies. An yes I don't apologize for being pissed off at both of them for their inability to treat a customer like a human being.

[BoostMyScore]

Yeah and they paid that money back plus interest so you as a Taxpayer made money off that transaction. As stated in this post this is Goodwill gesture that they don't have to do. They are obligated to report your mortgage correctly and it sounds like they are.

Exactly how have I made money off that transaction? And yes it is a Goodwill gesture that WFHM has no intent to partake in that gesture.

Edited by BoostMyScore, 21 October 2010 - 09:54 AM.

[Rebuilding2010]

Well technically, the same way you claim to have been charged for that transaction. They money was taken out of your taxes to support XYZ government issues, the government lent out that money, received it back with interest (I don't know if that's true, I don't know the details of the bailouts) so government now has more money than they had before to use for XYZ issues.

[BoostMyScore]

And where would WFHM be if the taxpayers didn't bail them out? Never mind, it's not worth the words.

[GoHooterGo]

The big reason why most companies do not want to remove lates is because they are all in the same business.

Lending credit. If every company removed our negative remarks per request, then Credit evaluation would be near impossible, and more risk to lending credit.

But here, we are all for trying to find ways around it!

I'd suggest a 623 Letter. BY LAW, they have to respond within 30 Days. Now the law is on your side, lol.

[tiggerlgh]

Well technically, the same way you claim to have been charged for that transaction. They money was taken out of your taxes to support XYZ government issues, the government lent out that money, received it back with interest (I don't know if that's true, I don't know the details of the bailouts) so government now has more money than they had before to use for XYZ issues.

+1

Staying away from the political discussion, Just stating the facts the government so far has earned 8.2% on the TARP funds.

I don't understand why the OP is so upset thet WFHM won't remove their legit lates. Credit reports are supposed to show the borrowers payment history. I am all for correcting reports and making sure they are accurate, but I don't see why people get so upset when they did miss payments and they are shown on their reports

[Rebuilding2010]

I'm all for correcting reports AND getting some accurate but derogatory information off of those reports if you can, but if you can't you can't get upset, the fact of the matter was that it was your fault.



BUT having said that, I was just as pissed when wells told me the same thing they told him, but for a charge off. It took me a few months to accept the fact that whatever reason they give, they dont have to do anything other than report accurately and that's what they're doing, even if it does hurt me.

[forbiddenlove]

So when you get a response to a GW letter that says that "deleting lates would be breaking the law"....how can you respond back that tells the company that they're not breaking the law and if they'd rather delete the tradeline, they can.

How would you word it?

[MarvBear]

That was probably a typical response from the lender, that's basically an automated type reply. Which is basically accurate.

One of the finer arts in credit repair, is learn how to phrase your disputes, and know enough so you don't always get the brush off letter.

OP asked for a goodwill adjustment, lender declined.

Mount your attack from another angle.

[Sleepless]

That was probably a typical response from the lender, that's basically an automated type reply. Which is basically accurate.

One of the finer arts in credit repair, is learn how to phrase your disputes, and know enough so you don't always get the brush off letter.

OP asked for a goodwill adjustment, lender declined.

Mount your attack from another angle.

I love this board.

You may not get the answer you want but it is always astute information. Always.

If people are looking for a quick fix, this is not the place. But if you are really willing to put in the time and effort to LEARN the right way to handle credit issues you will go far and be successful over the long term.