Credit question about GW???

Question

I had asked a question before about improving my credit score and how to and one of the answers I recieved stated the following:

"For scoring purposes, fico does not distinguish between paid or unpaid collections. The best way to improve in this area is to ask for GW in deleting the tradeline. There are sample letters here you can use to get an idea of how and what to say"

What does this mean???

What is GW???

What does it stand for???

Can anyone put this in easier terms (I'm new to understanding credit)???

Thanks to anyone who can help clear this up for me.

Answer 1

GW is an abbreviation for "GoodWill". Basically, it's a letter pointing out that you've been a good customer for years, etc., and requesting that they consider a goodwill adjustment of their report to the credit agencies. You can find samples online, like this one: http://ficoforums.myfico.com/fico/board/...

In fact, go to the web and look for "credit repair" - you'll find lots of tips and hints on how to help heal your credit. There are forums that specialise in this kind of question - it's a fairly common problem, and there are some real experts out there. on Yahoo answers, you're more likely to get "common knowledge!" than real, specific information, I'm finding. :)

Good luck,

FF