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I am self employed and i am needing to fix my credit to refi my house due to old collections and recent late on my mortgage my score are super low and even if i pay my credit cards to 0.00 it does not help due to old collections rereporting.

You can challenge anything on you credit reports to to credit reporting agencies. Only challenge a couple at a time though. They will remove the entry until the company reporting it validates it within thirty days. Do not think because it has been removed that it is gone. Check after thirty days to make sure it has not been put back. Many 3rd party collectors and even original lenders do not have the time to dig up old files to validate these old entries. Others don't have the personnel because their main concern is collecting. This is what the credit repair companies bank on. If the entry comes back challenge it again a few months later if you think its wrong. Beware of credit repair scams. These compnanies challenge everything on you report at once, show the items removed, take your money and thirty days later, the items are back on your report and you are out your money. Also get a secured credit card from your bank and pay it early. Never charge past one third to one half of your limit. Maxing the card will hurt your credit. Good Luck. I am embarking on this same mission as we speak.

Sub: #1 posted on Fri, 07/06/2007 - 22:15

Frogpatch Frogpatch
Moderators Cum Industry Expert
(Posts: 5381 | Credits: 652.52)

I have done this before but the charge off is a bank so it is really hard to get them off. I'll try one last time and see what come outs. Do you recommend i write to the creditor or the credit agency?

Sub: #2 posted on Fri, 07/06/2007 - 22:30


The credit agency is who you write to. The charge off from the bank will be difficult unless the bank has been merged recently. It sounds like you have lots more than just the bank one however. If you take care of some and work on getting new positive info it will look like you had problems but you are recovering. The next thing you know your bank will offer you a bigger credit line on the secured card and others will try to give you credit cards also. Just beware of the low rate flip to high rate scams.

Sub: #3 posted on Fri, 07/06/2007 - 22:47

Frogpatch Frogpatch
Moderators Cum Industry Expert
(Posts: 5381 | Credits: 652.52)

Ruthleza, I am in a similar position. I am trying to clean my credit report so I can get a personal loan. I am currently in the process of sending validation letters to creditors and trying to get incorrect information deleted from my credit report. The hardest thing about getting new credit on the report is that noone is willing to offer me any credit at this point. Anyone have any ideas as to how I can start to get new and positive credit reported?

Sub: #4 posted on Sat, 07/07/2007 - 23:28

eleroo eleroo

(Posts: 1220 | Credits: 153.93)

I would go over your latest reports with a microscope.Federal law requires everything to be accurate in your credit files. For your lates on the mortgage,the best approach will be a goodwill adjustment letter directly to the creditor.In this letter you are basically asking them to take into consideration your longterm standing as a customer and to forgive the lates.If the credit cards are with the original creditor,call and inquire about a hardship program to settle the debt.If the credit cards are with collection agencies,send the dv letter in my signature at the bottom of my post to them certified return receipt to properly validate the debt.If they can't validate,they cannot legally continue to report.If you receive good validation of the debt,then offer them a pay for delete settlement letter.It is a written contract specifying payment for deletion of account from credit files.Make darn sure they sign it before paying them & don't give any collector access to your banking info.Use a money order instead.

Sub: #5 posted on Sun, 07/08/2007 - 00:38

cajunbulldog cajunbulldog
(Posts: 4859 | Credits: 425)

Once you have your credit repair started,you will need to add some positive accounts to offset the damage of bad debt.Find yourself either a credit union or small hometown bank and open a checking & savings account to begin your financial relationship.Now start taking out small consumer loans and paying them off after a few months.The idea is to pay them off soon as they report to the credit bureaus.Continue this for about one year and you should be ready to start applying for prime credit catagories.

Sub: #6 posted on Sun, 07/08/2007 - 00:43

cajunbulldog cajunbulldog
(Posts: 4859 | Credits: 425)

Hi eleroo

In my opinion you can go for secured credit cards, and manage them responsibly for a year. Go for minor purchases, such as household stuffs or may be gas for your car, but remember to pay off the bills on time and if possible try to pay in full. Try to maintain a workable budget and stick to it. You can also work out a repayment plan with your lenders; you can also contact a credit counseling organization who can negotiate with your creditors.

I just hope it works out. :D

Sub: #7 posted on Mon, 07/09/2007 - 17:47

Good Nelly Good Nelly
Industry Expert
(Posts: 2668 | Credits: 533.16)


Can someone please give me a copy of a "goodwill" letter or a link to one. I really need it bad.


Sub: #8 posted on Fri, 07/04/2008 - 21:25

Lukeskywalker Lukeskywalker

(Posts: 1909 | Credits: 185.22)

Not sure what you goal or situation is but heres a sample:


Company name


Dear CEO name,

I am writing to you today regarding my credit card account #4236-XXXX-XXXX-XXXX which I had while I was a medical student at ------------------------------------. The purpose of my correspondence is to see if you would be willing to make a "goodwill" adjustment on the reporting of this account to the three credit agencies.

During the time period this account was established I had was very happy with the service, I was however not the ideal customer and made mistakes with my handling of the account. I should have kept better records regarding the account and I take full responsibility. I became aware of the unpaid balance when I got a copy of my credit report in June of 2006.

I know that payment was my responsibility and I am not attempting to justify this breach of my user agreement, I was however hoping you might review the circumstances under which this non-payment occurred and consider removing the negative trade line associated with this account from my three credit reports.

As soon as I became aware of the balance I contacted ----------------- and paid the balance in full. I provide this not to justify why the account was unpaid, but rather to show that the issue with ----------- is not a good indicator of my actual credit worthiness. I hope that ---------------- is willing to work with me on erasing this mark from my credit reports.

I would like to STRESS that the information currently being reported IS accurate, (I am not disputing anything with ---------------). I am simply asking -------------for a courtesy gesture of goodwill in having the credit bureaus remove this account from my report. I do recognize that this request is unique and that it may not be ------------- normal policy. Please consider that the Fair Credit Reporting Act does not demand that all accounts be reported, only that any account that is reported be reported accurately. Therefore, a company does have legal discretion and permission to remove any account it chooses from the credit report. I'm hoping that ------------- will do that in my case for this account.

Your kind consideration in this matter is greatly appreciated.

Best Regards

123 Your Street Address
Your City, ST 01234

Sub: #9 posted on Sat, 07/05/2008 - 16:21

Moderators Cum Industry Expert
(Posts: 4665 | Credits: 308.23)

Thank you so much nascardevil!! :!: :D I am going to send Meijer Stores/ and their CA a GW letter to remove a charge off that has been on my reports since 2004 for a check that went bad for some grocries ($54.00) that I went in and paid it off with their fees as soon as it came in the mail.

thank you

Sub: #10 posted on Sat, 07/05/2008 - 19:36

Lukeskywalker Lukeskywalker

(Posts: 1909 | Credits: 185.22)

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