between jan and apr of 06 i had payments on two of my credit cards not recieved by the cc companies because of a mistake i made. each of them reported and im shown as being 60days past due. a friend is the vp at a bank.....if i have him write a letter saying something about a bank error and that it wasnt my fault but rather an internal bank error.....will the negatives on my report be removed? any ideas? he agreed to do it....i just dont wanna make a mistake. would i send the letter to the cc companies or the credit bureaus?
ive been searching but I just can find any info on this subject. Ive been asking the cc companies but they will not give me a straight answer. Ive heard from one that it should be corrected but that he cant say for sure. please help. i dont want to end up regretting a decision that I made. Thanks in advance
why cant i get an answer on this? nobody knows or what? i still havent acted on it because no one has replied. PLEASE HELP
It may be that no-one has had experience dealing with a problem of this type in this manner. Presumably you are dealing with some issue of how an on-line payment was coded or processed, or rather, misprocessed. If you do nothing, you get stuck with what you have. Since this involves reporting of payment history, in effect this is somewhere between a dispute, a goodwill letter, and a "professional courtesy" between banks to avoid damage to their customers from "errors". Although they cannot legally report erroneous negative information, payment history may reasonably be adjusted to reflect whatever the CC company chooses to consider as timely payment, and it is not uncommon for them to do so when errors occur. Errors do occur due to the actions of banks: account numbers get screwed up, payments misposted, addresses get erroneously changed, statements get delayed or sent to the wrong address, etc, but they get fixed in good faith, and it is not appropriate to penalize consumers acting in good faith for problems beyond their control. Your strongest incentive is the goodwill of the CC company, and your value as a customer, combined with a plausible reason for them to justify the action you want. As such, I would think that you would want your bank to send a letter to your CC company directly. The more timely, the better your chances in getting your record cleared. At this time, there is not a reason to involve the CRA, since they will not make any independent judgement on what should be reported, but only ask the DF to verify.
THANKS!! I'm going to send a "good will" letter along with the letter from my bank and see if they take care of it for me. I'll get back with the board and let you know what happens. Thanks again
Often such letters are more effective when sent thru the "executive offices", instead of thru the billing or credit reporting layers of a creditor.
