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mc800

where to send request for good-will removal of late payment

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I have a few late payments that are reporting to the CRAs but which are still a few years away from falling off the report. I want to send a request to the OC for a good-will removal of these late payments. Where should I send a letter to the OC? Their corporate office? The payment address on my statement? Also, how long should I wait for a response before following up if I don't see the late payments being reported as on-time?

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26 minutes ago, hegemony said:

Are these accounts still open? Who are the creditors?

Yes, all still open. Capital One, Citibank, Bank of America.

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I used to have decent luck with CapOne by calling the Executive Offices if someone had ONE 30 day late. Getting a goodwill removal worked maybe 40% . . . sometimes by calling back several times until getting to the right person. I like everyone else used to abuse the Executive Office folks with/for CLI requests when the automated system turned someone down, me included, and was VERY SUCCESSFUL until they created a policy for the Executive Offices to stop doing any CLI requests (I'm sure it was 90% of their day - perhaps an exaggeration, but it was all over the various Internet credit sites that that was the way to get a CLI . . . and indeed the only way I EVER got a decent CLI outta CapOne was by calling the Executive Office)

 

B of A has no goodwill and lost one client with a number of HUGE accounts, because they wouldn't do a goodwill removal for a friend of mine with otherwise perfect history. And, the ONE 30 day late was arguably their fault at least partially their fault. Started with a CSR, then to supervisor, then a manager, on to their ombudsman, then to the the VP and then finally a letter to the President and still no goodwill. My friend left B of A and put them on his personal blacklist of banks to never do business with. He literally had millions in business with them. This is my one and only goodwill attempt with B of A and they walked away from literally $$$ millions over a refusal of one 30 day goodwill removal.

 

I have no experience with goodwill removal and Citi.

 

Hope that helps and others have more info to share.


 

Edited by CreditGuy100
correct typos

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These are from 40-50 months ago, so more than halfway to the 7-year fall-off... Would I better off just disputing (via USPS) and using the 1-2 punch method?

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51 minutes ago, mc800 said:

These are from 40-50 months ago, so more than halfway to the 7-year fall-off... Would I better off just disputing (via USPS) and using the 1-2 punch method?

if you dispute them there a good chance you will lose the tradelines altogether. If you value the age of the accounts, I don't recommend it.

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I'll chime in with hegemony here ... I never advise a dispute on anything accurate, except in the most critical cases (and where loss of the tradeline isn't a problem).

 

However, I'll note that since these tradelines are open and (presumably) active, it would be exceptional for the tradelines to be removed (I wouldn't bet against it, though!).  Still, I advise against a dispute on the principal that it's best to avoid unforeseen consequences

 

There was a time when an earnest goodwill request had a decent chance of approval, especially when related circumstances were well documented and, outside of a one-time event, account performance was strong.  In time, a few too many tried to ride that bandwagon, often with justification that bordered on frivolous.  For the most part, that "bandwagon" has gone the way of dial up internet. )

 

Still, even now you see the occasional report of a rare success.  It's worth reaching out for the price of a postage stamp.  I suggest going with the CEO as contact ... most companies have an "executive resolution unit" (or similar) that the request should be routed to and have the best shot at getting serious consideration.

 

Where possible, cite extraordinary temporary circumstance/hardship that was subsequently resolved.  Ideally you can point to the balance of your positive account experience as demonstrating your true intent in managing the account.  If possible, cite a significant upcoming credit need and your concern that the adverse entry might diminish your prospects.  Express appreciation for any consideration they can extend.

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