HSBC mortgage

Discussion in 'Credit Talk' started by Weapon X, Feb 11, 2016.

  1. Weapon X

    Weapon X Active Member

    Hi all,

    My wife passed away September of 2014 from cancer. Due to expenses, I was unable to pay the mortgage for six months, March to Sept '14. In September, I paid off the past due and have been on time since. I've even been paying extra towards principal every month.

    My credit score took a huge hit: 830 to 650. It's up to around 688 now. I sent numerous goodwill letters and they won't budge. I even sent one to the bank president. I get the usual....required to report accurate information per the FCRA argument.

    Is this even worth fighting? My score went up 38 points in a year and a half. I have no debt other than the mortgage, and a car loan that I can pay off anytime. I keep paying the car loan to maintain a payment history. It just drives me crazy seeing the late payments on an otherwise perfect credit report.

    Thanks
     
  2. JoshuaHeckathorn

    JoshuaHeckathorn Administrator

    I'm really sorry for your loss Weapon X. Cancer sucks...big time.

    HSBC has been known to be really difficult to work with on these types of things. Letters written to the CEO are probably your best shot at getting lucky, but obviously you've already tried that without any success. I would at least keep trying a few more times. Who knows, you might actually get the set of eyeballs you really want to read the letter and make something happen for you.

    Keep paying on the car loan and mortgage as well to continue building positive payment history on your credit reports while the late pays continue to age. I wish I had something better to offer you. Thanks for the question though.
     
  3. Weapon X

    Weapon X Active Member

    Thanks Josh,

    I suppose I can send another letter to the CEO. I'm not going to need to use my credit for anything in the near future, so I'm not in any rush. Having already regained 38 points, I'm hoping that my score will recover well before the late payments fall off.

    It just gets me upset to see the derogatories on otherwise perfect credit. Reminds me of everything we went through.

    Thanks
     
  4. JoshuaHeckathorn

    JoshuaHeckathorn Administrator

    As you build positive payment history with your other loans and the late pays age, your FICO scores should continue to improve quite a bit. They may not fully recover until the late pays fall off your credit reports though.

    Sorry it's yet another reminder of all the difficult times you went through. The good news with credit is that time does actually heal all wounds. Late pays will stick around for about 7 years and then fall off your credit reports forever.
     

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