Thread: Goodwill Hunting

Hello everyone,

I am requesting help in regards to some goodwill I hope Chase can show me.

I have read PsychDoc’s Nutcase Letters (awesome!) and Marci’s goodwill letter (excellent!). I would like to ask for some help in getting Chase to dismiss a 30-day late I have on my credit report.

Here's the situation - my account was originally with Providian. I paid the account with a credit card check. The check was erroneously returned. At that point nothing got reported, as I paid the account in full after clearing up the misunderstanding (and had never been late on a payment in my life before that credit co. error). The account later got bought out by Chase. I closed the account last August, then found the item on my credit report shortly thereafter. Chase said they reported anywhere from 1-3 days before I closed the account. The CRA's cannot verify the date it was reported to them. I have asked for this documentation from the CRA's, but they have only said that Chase verified it and that they (Chase) have to ask to remove it. I will be contacting Chase to ask for written verification on this issue.

Beyond that, I have already asked Chase for a goodwill adjustment (letter was nowhere in the PsychDoc or Marci league) and heard nothing back. I have also asked the CRA's for written procedures on how they verify this, but have heard nothing back. So far in my research, I have not been able to find any legislation that prevents creditors from reporting negative items after an account has been closed - not to say that there isn't something out there.

So, here are the questions I have that hopefully the Creditnet community can help me with:

1. Does anyone have a copy of or know where the goodwill letter Marci sent to Chase is posted? I have seen the one she sent to Citibank, but would like to see the one for Chase, if at all possible.

2. How should I go about sending the goodwill letter? To a mid-level female manager as rblues suggests? How about to the CEO, the CFO (who is female), or to the head of customer service? Should I send it through planetfeedback.com? If I send it through this website, whom should I address it to? Does anyone have the name of a specific person at Chase I could send the goodwill letter to?

3. Is there anything I should do differently in approaching this issue, since I have already closed my account with Chase, and they theoretically do not have the “incentive” to grant me the goodwill adjustment?

4. I’d really like to try this nicer approach first, because it has the higher likelihood of working, before I try the more aggressive, ballistic approach. Any thoughts?

5. Any other thoughts / ideas / suggestions would be most appreciated.

THANKS EVERYONE!

Great Movie.

Originally posted by rp56
1. Does anyone have a copy of or know where the goodwill letter Marci sent to Chase is posted? I have seen the one she sent to Citibank, but would like to see the one for Chase, if at all possible.

Sorry. I didn't send a goodwill to Chase. I did call in for a reconsideration request on a declined CC application back in 2001.

Originally posted by rp56
2. How should I go about sending the goodwill letter?

I like to use www.planetfeedback.com. Theere will be a drop down box on there to send it to the CEO's attention. Use that field to address your letter. It will get to the Executive Office.

I once sent a PFB to BofA to compliment an executive on a job well done. I addressed it to Ken Lewis, CEO and got his handwritten reply back. PFB is amazing.

Originally posted by rp56
3. Is there anything I should do differently in approaching this issue, since I have already closed my account with Chase, and they theoretically do not have the “incentive” to grant me the goodwill adjustment?

Here's one idea. If your TU credit report is not a war zone, apply for a new Chase card. Do whatever you can to get a reconsideration for approval, if you are initially declined. Use this example when you talk with the credit analyst for reconsidered card approval:

http://consumers.creditnet.com/strai...&threadid=6279


Then, if you are approved for a new card, write Chase via PFB for a goodwill deletion using this as an example:

http://consumers.creditnet.com/strai...=&postid=59322



This was the exact backdoor approach I used to re-establish a relationship with Citi and get the CO off of my reports.

Marci,

Thanks for the reply and feedback. After mulling over what you said, I have come up with two plans of action. But first a little more background.

I have recently refinanced some property and am looking to pay off some credit cards. Once that happens, my credit score should shoot back up. I'm getting ready because I'm going to be applying for a mortgage in late Oct/early Nov. The last major hurdle to clear will be this Chase 30-day late. So in light of what you mentioned, I could go one of two ways:

A. Re-apply for a Chase credit card after my credit scores go back up. Hopefully I will get approved, become a customer again, then request the goodwill adjustment (the "backdoor" method).

B. If I get declined, then send the goodwill letter to as many people at Chase as possible.

I'd just like to go with Plan B first, but without the "leverage" of being a customer, is there a good chance I will get the goodwill adjustment? I have a sense of urgency to get this done ASAP, even if I do have a little time. I'm looking to go Plan A, then Plan B, and if both fail, Plan C = Nutcase on Steriods.

What do you think?

Originally posted by rp56
I'm getting ready because I'm going to be applying for a mortgage in late Oct/early Nov. The last major hurdle to clear will be this Chase 30-day late.

Oh...

This is important. If you want to get pre-approval for a mortgage in October, do NOT apply for any credit. Period. Forget my backdoor approach.

It is quite possible that the inquiry from the backdoor approach may do more harm than a 30 day late from Chase (how old is the late?). Particulary since you have a history of on time mortgage payments, that late should not hurt you. But a new credit inquiry on top of refi inquiries might make some lenders nervous. I would definitely pay down the cards and make sure that the refinance shows the original lender paid off.

For expert advice, ask Fla-tan or WillTygart what they think of your credit profile and how that will affect a mortgage. See the board below where they post.

http://www.creditboards.com/phpBB2/viewforum.php?f=9

If you get the mortgage, then I'd revisit the idea I posted above.

Marci,

Thanks again for the feedback.

I guess the questions becomes: which potentially produces the greater benefit? Take the chance of applying, taking the 5-7 point hit on the FICO, then going backdoor and hopefully get the 30-day late removed? Or just standing pat and doing nothing? Or just trying the goodwill letter without applying for an account?

The 30-day late got reported August 2002, even though it supposedly happend on August 2001. I've tried disputing it, a goodwill letter, yelling at the customer reps, but haven't been able to get them to budge.

I'm motivated to get it off because I don't want to get shut out from the best rates. A friend of mine got shut down on a great Morgan Stanley investment mortgage. Even though she had great credit, almost no debt, sufficient $$ and equity, she had one 30-day late that she was able to explain. But they said nope in spite of everything, because it was on the credit report. As we know, lenders can sometimes be the least rational people, so I don't want to take that chance, especially with rates going back up?

Please let me know what you think . . . . and thank you for having responded in the past, I appreciate your insight.

Originally posted by rp56
which potentially produces the greater benefit? Take the chance of applying, taking the 5-7 point hit on the FICO, then going backdoor and hopefully get the 30-day late removed? Or just standing pat and doing nothing? Or just trying the goodwill letter without applying for an account?

My approach, while it worked for me, is a bit iffy to hang a mortgage on. If I were in your position, I would not apply for a new CC in hopes to get the 30 day late off.

Yelling at their legal dept. and citing Chase court losses wrt to credit reporting (there is a famous Nelson v. Chase Manhatttan case posted on this board re erroneous CRA reporting that you should look up) may get their attention better than yelling at customer service reps. I would deal with this with their legal dept if they are truly in the wrong on the date. Tell them that you will MAKE SURE that they pay the difference between the rate you get on a mortgage and the rate you would have gotten if the error wasn't there.

But if you choose to get legal, you must do your homework first, so that you get it done right. Do some reading of the archives on this board and post this question on the Credit Forum at www.creditboards.com. There are people there who can do a much better job than I in navigating you in this issue. LKH, humblemarc, sassyinaz are a few who come to mind.

Originally posted by rp56
I'm motivated to get it off because I don't want to get shut out from the best rates.

Your friend seems to have gotten a very tough underwriter. Most underwriters are not that stringent, unless your friend is leaving something out.

Still, the person who can best answer your question re the Chase 30 day late is the loan officer affiliated with the lender you want to go through. Pull your own credit reports, don't let them pull any, and ask about the programs you want and how that late will affect them. Getting a good idea from the horse's mouth is a better indicator of what you stand to expect in terms of rates.