Thanks All - Wish me luck

Good luck, but in my experience with my own paid chargeoff from Sears, they verify every time. Let me know if they don't, maybe I can get in on it too.

 

I wrote Sears in mid 2000 regarding lates in 95-96 and they stopped reporting them. I just pointed out my excellent payment history since and even said that I didn't dispute the validity of the info, I just wondered if they were required to report it and was there anything I could do to improve my credit picture with Sears.

Voila! The next month the account showed "paid as agreed" and all of the negative history was gone.

The address was :
Sears NAAC
ATTN : Credit Bureau Desk
13200 Smith Road
Middlebrook Heights, OH 44130

 

Good Luck!!!

Guess who?? (like that would be difficult!)

 

Yes, that would be a risk.

I decided to go ahead and take the risk since we had over 3 years with a clean record with them at that point.

Mostly, I just wanted to give you (and anyone else with an interest) my experience as an option to consider as you determine the best course to take for yourself.

All the best!

 

When Sears erases the late pay notations they call that a "goodwill adjustment"; they actually have a department whose job it is to review such requests among other things. Just last month I successfully requested a Sears "goodwill adjustment" to remove a 60-day and a 90-day late from 1999. A customer service rep subsequently told me that they have certain parameters they evaluate before granting the "goodwill adjustment" which are: no other goodwill adjustments in the last 24 months, the length of time you've had the account, length of time since delinquency (at least 18 to 24 months), and how well you have maintained the account since the delinquency. In any event, I simply requested my "goodwill adjustment" by phone; I sent two other similar requests to Citibank and Chase (also both successful) using a modified version of a letter which marci wrote and posted to Creditnet. I went ahead and modified that further for your use with Sears (below). I have also included the address where Sears will take written requests for the "goodwill adjustment." I DON'T think you jeapardize further opportunities to dispute if you need to do so if you first request this. After all, everything they do is computerized. Nothing will stay on somebody's desk at Sears. Nobody will remember you. The computer won't flag you as a problem. Either you'll get the "goodwill adjustment" or not. I hope this helps.

Doc

--------------------------------------------------

Date

Regarding: Account No. XXXXX

Sears NAAC
ATTN : Credit Bureau Desk
13200 Smith Road
Middlebrook Heights, OH 44130

To Whom It May Concern:

I am writing a letter about my experience with Sears that is a mixture of a grateful "thank-you" and a pressing request concerning a Sears Charge Card tradeline in my credit files that I would like to have revised.

I received the Sears card in [YEAR], several years before I [CHAOTIC LIFE EVENT -- A MOVE, A BIRTH, MEDICAL SICKNESS, ETC.]. Later when I experienced the [CHAOTIC LIFE EVENT] and while working on [WORK PROJECT], I became disorganized with respect to, as you saw, making timely payments with Sears. I fully recognize my responsibility with respect to payable accounts and have worked diligently to rehabilitate my relationship with Sears since that time.

To be honest, that year was a "wake-up" call for me regarding fiscal organization. Since then I believe I have learned the essential organizational and financial management principles I desperately needed at that point. Thankfully, responsible credit management is now reflected in my credit records which -- excluding the Sears card late entry -- are excellent. I wish to thank you for renewing your confidence in me and for giving me a second chance at a relationship with you, one that I am determined to keep spotless.

We are about to shop for a mortgage, and it has come to my attention that the late notations from Sears may preclude me from taking full advantage of the very lowest interest rates now available. Since those notations do not reflect my current status with Sears, I am requesting that you give me a second chance at a positive credit rating by revising those tradelines. Your customer service repesentative suggested that I write you for a "goodwill adjustment." I sincerely hope that there is redemption at Sears, and I beg you for such consideration. Please let me know if any additional documentation would assist in reaching a positive outcome, and I thank you again for the time you have spent reading this letter.

Very hopefully yours,

Name
Address
City, STATE ZIP

 

Great, keep us posted!

Kudos to marci, whose original version can be found here:
http://consumers.creditnet.com/straighttalk/board/showthread.php?s=&postid=59322

Doc

 

The paid collection is a whole other ball of wax.

With Sears, you have a continuing relationship -- and hopefully a good one -- that benefits both you and Sears. If in fact, you've demonstrated excellent payment history with them for a period of time following the delinquency, then you're a customer Sears wants to keep because they know that you're likely to be a part of their profit margin for years to come. For that reason, they're actually often motivated to do nice things for reliable customers.

With the paid collection, you're in a completely different spot. You're no longer a customer. You were a nuisance before: as far as they were concerned, it was like sucking blood from a turnip to get you to pay. There's little chance that you'll make them money again. They don't want to deal with you anymore. Instead, they want to devote their resources toward current customers (if you were dealing with an original creditor) or toward people who still owe money (if you were dealing with a collection agency).

Because the paid collection is COMPLETELY DIFFERENT, then you must do something COMPLETELY DIFFERENT, lol. No, the sweet approach is NOT likely to work. Instead, you must show them that you are likely to be a CONTINUING NUISANCE and maybe even a legal problem if they don't do what you request. In other words, you want to send a letter that will achieve a few specific outcomes:

1) You want your previous CA acquaintance to read the letter and think, "What the heck is this?" Disarm them. They're not used to reading letters from people who have ALREADY PAID, lol.

2) You don't want them to simply toss away the letter. Instead, you want them to understand that they will ignore the letter only at their peril: "Sheesh, I'd better show this letter to John over in legal. Good grief."

3) You want them to think, "Lordy, we can simply delete the accounts from the CRAs, or we may end up spending money on foolish legal claims from this bozo. What's the quickest way for us to be finished with this nutcase?"

4) You don't want to do anything that would constitute wrongdoing on your part such as: a) being personally threatening, b) threatening legal action outright (instead you're going to simply hint at it), or c) saying anything fraudulent.

That said, I would recommend that you send a slight variation of the validation letter you would normally send to unpaid creditors. Your hope is that they'll get the letter and wonder what in the world you are up to; then they may well send the removal request to the three credit bureaus just to be rid of you. I personally never had unpaid chargeoffs; however I did have several very late pay notations for which this tactic worked. For that reason, I've become a bit of an expert (lol) at dealing with FULLY PAID CREDITORS WITH VERY BAD TRADELINES.

A sample letter follows. It may or may not work, but you won't know until you give it a shot -- and you have a very good shot. Finally, you should follow up with regular CRA disputes if this doesn't pan out. Don't send the CRA disputes first. Good luck to you.

Doc

--------------------------------------------------

Date


Name of Old Fully-Paid Acquaintance
Address
City, STATE ZIP

To Whom It May Concern:

I am formally requesting that you validate all tradeline notations you have submitted to the three major credit reporting agencies by â??NAME OF COLLECTION AGENCYâ? or â??NAME OF ORIGINAL CREDITORâ? for me, YOUR NAME, for account number XXXXXXXXX.

Due to possible inaccuracies in these CRA reports, I must demand that the validation I hereby lawfully request be in the form of a notarized statement by a person with original knowledge of the debt as it was constituted and who can testify that the debt was incurred legally, was not subsequently disputed as a result of returned, faulty, or recalled consumer products, was not utilized as a profit-loss tax deduction during the period it may have been payable, and was not claimed as a loss with any insuring entity during the period it may have been payable. Please be advised that I am not requesting a verification that you have my mailing address; rather, I am requesting validation, i.e., competent evidence that I had some contractual obligation sans consumer protection encumbrance which incurred the original claims associated with this tradeline.

I have enclosed two documents which will verify my address: a photocopy of a [YOUR STATE] Driverâ??s License and a photocopy of a recent [NAME OF UTILITY OR TELEPHONE COMPANY] statement.

Please know that you have 30 days from the tracked and confirmed delivery of this lawful notice to either answer these demands or to remove the associated negative tradeline notations from the CRA reports. Any other action may constitute evidence of your intent to abridge one or more civil or other constitutional rights. Please be further advised that continued unsubstantiated reporting of possible inaccuracies to third parties may provide a basis for criminal complaints being filed in accordance with FDCPA, FCRA, and other federal statutes.

I look forward to a timely and amicable resolution to this matter.

Sincerely yours,

Your Name
Address
City, STATE ZIP

 

Doc,

Have you ever used that letter before? I think it might work for my paid collections. I have several.

TIA

 

I used a similar approach with two fully-paid creditors, and it worked beautifully for me. By the way, I took the neatly word-processed letters to my bank and had them NOTARIZED -- making them look really official, lol. For some reason, the notary stamp really imparts that "I mean business" look (and maybe even that "I had an attorney facilitate this for me" look as well). Finally, the letter should DEFINITELY be sent certified mail with return-receipt requested.

Doc

 

dfwgt, you send it to whoever reported the most recent tradeline. In your case, that sounds like the CA. Remember, you're dealing with a FULLY PAID account, so the normal worries about "uh-oh, will I trigger a judgment" or "uh-oh, will I restart the statute of limitations" or "uh-oh, will they sell the debt off to yet another CA" don't apply. Your intent is to get them to get rid of you once and for all; since they are fully paid, you present a possible legal liability, LOL. I realize this approach flies in the face of the "when-you-pay-them-you-lose-all-leverage" philosophy, because personal experience has taught me that this old philosophy just isn't true in every case. In your case, the debt has been paid, so as far as they're concerned further interactions with you only cost them time and money. By being a pest, while being careful to do it lawfully, lol, you will ultimately push them into the place where all they really want is for you to disappear from their lives forever.

Once you're finished with the CA, we can turn to the original creditor. By the way, I HAVE had success using this technique with an original creditor where there was never a CA. While the original creditor could have certainly validated the debt in accordance with my request, their attitude was apparently, "What the hell? This guy has already paid. Why should we spend more time with what looks like the makings of some wacko lawsuit? And what's with the consumer protection language he's throwing in there? Let's just remove the tradeline and quickly move along."

Doc

P.S. Good for you regarding paying your debts, by the way. I'm a firm believer in paying back money I have borrowed -- although I'm also a firm believer in not judging others who don't share that particular moral code.

 

I like the letter. Could this work for paid student loans showing lates? How long should the accounts have been paid before sending out this letter.

 

I like that question!!! Inquiring minds want to know!!!!

 

Yes, this can work with fully-paid student loan guarantors if you delete this phrase: "was not subsequently disputed as a result of returned, faulty, or recalled consumer products" (geared toward revolving debt). This letter is a compilation of a hundred things I've learned during the past year. It's a a little bit me (the overall approach vis-a-vis fully paid creditors), a little bit Marie, a little bit Lizardking, a little bit of bbauer's philosophy, a little bit consumer protection law I came across, and a little bit from other places, lol. For that reason, I can't take full credit for the letter itself, although I'll happily accept kudos for the overall approach, especially if it works as well for you as it has for me.

Doc

 

Doc, You are a GENIUS!!! Thank you!!!!



<<<copies and pastes letter into Word. Prints off about 10 copies and mails the bad boys out!!!>>>

 

Doc,

Thanks so much for posting the wonderful letter. I have a couple uses it is going to be perfect for.