Please comment/ advise on this letter to OC regarding 2 old accounts still statusing as "120 days late". September 20, 2002 Re: accounts xx1 and xx2 Premier America Federal Credit Union Special Accounts,xxxxxmanager 19867 Prairie Street Chatsworth, CA 91311 Dear Ms. Bennett, I thank you for taking my call the other day. I have been working with Premier America to resolve the issue of reporting on the xx1 and xx2 accounts. Here is a brief synopsis and timeline. The two accounts mentioned above were affected when I lost my job and my valuable income in 1999. We struggled with our finances and eventually refinanced those two accounts into our current account in 3-00. That account has and will remain in good standing until payoff. However, the loan 1 and 2 accounts were left in a â??120 Days Lateâ? status even though they are closed with $0 balance. For some reason, Premier America has not been able to rectify this situation for over a year now. My wife, Melissa has spoken with 2 main special accounts people before you. The first (Jane Doe1) was very understanding and quickly sent the 3 bureaus letters to change status to Paid Account/ Never Late in 2001. That somehow didnâ??t translate. The bureaus never updated the â??Statusâ? and therefore these accounts still show up as â??currentâ? lates in my reports because of that status line and have brought my scores down considerably to a very poor rating. My wife explained this in depth with the next special accounts representative, Jane Doe2. She has been very pleasant and helpful as well but has not managed to correct this situation in a years time. It has caused me to be turned down on and /or receive very unfavorable rates on mortgage loans and other consumer credit. Since those notations do not reflect my current status with Premier America Federal Credit Union, I am requesting that you give me a second chance at a positive credit rating by revising those tradelines to â??Paid as Agreed, Never Lateâ?. I also request the changed status be forwarded, faxed, Fed Exed to all 3 bureaus immediately. It seems a very small, easy request to compensate for my undo stress during this whole situation. I do not wish to make a complaint to the Better Business Bureau of California nor do I wish to take legal action. However, this situation has perpetuated long enough and I want it corrected immediately. Thank you, learnmore
Also add in there if they send you an letter with the updated info, you could forward it to the CRA to get the info updated.
I'm no guru, but they don't have a whole lot of motivation in this case to change the two closed accounts. They have the money, and if you were 120 days late, it is legitimate for them to keep that notitation. I would read through and try out various methods of disputing the 2 accounts through the CRAs and then through the original creditor. Check the letter section of this forum and see what you find I doubt sending this letter will accomplish much since there is absolutely no motivation for them to delete or change the listing, nor is a threat of going to the better business bureau meaningfull to most of these folks.
Thanks for the input. I know they don't necessarily have motivation to help but those two accounts were refianced into a current one with about $5K still left on it.
Learnmore- Seeing as you refinanced and have been paying on time since 3/00, you may want to go with a modified "Goodwill letter" I would explain that bad things happen to good people and there is no need to be punished for 7 years. Also make note about the status.
