Here's an amazing story. I've got a single 30 day late from 10/00 on my mortgage. It was late because for whatever reason, the post office returned the payment, marked Return to Sender. I disputed the late with all 3 CRAs. Came back verified. So I wrote a letter to Washington Mutual, saying that their employee had told me at the time not to worry about the late payment, and that they had not reported it to the credit bureaus (True!). They do nothing, saying there is no proof, so they can't do anything, though they value me a s a customer, etc. I write another letter, and attach the original billing statement with my handwritten notation of the date I paid it (which wouldn't have made it late). And a copy of the telephone payment I made the day I returned and discovered that the payment had been returned. Tow days ago, I call customer service, and the representative tells me that they are contacting the credit bureaus and correcting the item. I ask for a copy of the letter to be faxed, give my fax number, and hang up, elated. But forgot to get the reps name in my excitement. big mistake. Today I call, as I got no fax from them, and they tell me that nothing is being done. THey guy who was handling the inquiry says that he took it to the head of the credit bureau reproting division, and that nothing was going to happen since I had no proof. Back where I started. He also told me that Goodwill Adjustments are illegal, and that what other people do is not part of their company policy. And that they couldn't afford to do it because it would cost them $75 to make the correction (The fact that I am paying north of $70K annually in interest to them seems to be less importnat than $75 bucks.) I am at my wits end. Any advice?!?!
You could always send all your paperwork to each CRA along with a letter of dispute and say the OC has refused to cooperate and that you have proof nothing was late. It seems to work for some people.
You should have asked him which one is it? Are goodwill adjustments illegal? OR Can they just not afford the $75 to do one? Seems to me if they really are "illegal" there would be no need to mention a $75 fee they would have to pick up by making a goodwill adjustment. If the latter is the "true" reason, then you could tell him to note the account that when a dispute through the CRA's come in (in regard to that one 30-day late pay), not to respond to it. That way the CRA will delete the late pay, and it won't cost the OC the $75 he seemed to be worried about.
Do you have a copy of the return to sender envelope? if it's the correct address... then you have proof you sent it and it was a post office error. This is why I tape phone calls now. For quality control purposes of course I'd keep pushing it... and frankly, if they're going to treat you this way for an error... I'd refinance.. take my business elsewhere (30 year rates are rock bottom now.. 15 years are just under 6 percent)... take your business from them... then once that's done... sue them for their error. Remember: you have the right to take the business from them. Point out to them the in interest you pay... and bottom line... if they don't value you... go elsewhere. My uncle had a similar problem with another bank... they credited the wrong account for his payment... were nonresponsive to him... so he refinanced with a competitor, sued the first bank... and felt better not dealing with jerks.
Hallelujah!!! In the mail last night, I received a letter from WAMU saying that they had reviewed my letter and my loan, and had decided to update my credit status to reflect "loan curnet as of 7/02 with no late payments." THis contradicts what they told me they were going to do, but I'm not complaining! Of course, the late payment was just verified this week by all three cra's, so now I have to send them the letter and wait ANOTHER 30 days, but at least it will come of...
Congratulations!! That opens up alot of doors for you. Could you email a copy of the letter that you sent to WAMU or just the address that you sent it too? My sister has a mtg with them because bought out her old mtg company and she is skeptical about asking for a goodwill agreement. Thanks!!
I faxed it to a number one of their reps gave me -- I will post the number when I get in to the office. I included some supporting documentation with it -- a copy of the billing statement from that month with my handwritten notification of the date it had been paid, the receip from the telephone payment I made the day the original paymnet came back to me in the mail, and the receipt from the auto deduct service I signed up for that month. In the letter, I also noted that I had the loan for 4 years, had never been late, and that it had been their rep who told me not to worry about it because they would not report it to the CRAs. I stated that I was shocked and saddened that they would lose a million dollar mortgage customer over a single late payment that was the post office's error.
