A goodwill letter, or as it is sometimes called, a “goodwill adjustment letter”, is a good and simple solution that you can use to make an official and sincere request to your creditor to remove a negative list from your credit report to correct bad credit. .

This type of letter differs from a letter to dispute late payments or to dispute billing errors. Also, a goodwill letter has a completely different purpose than a credit dispute letter.

A letter of goodwill allows you to accept blame for late payments on credit cards, while appealing to the creditor for financial leniency.

When sending a goodwill letter, your goal is to touch on important points such as:

• Let them know that you are sorry for the late payment and to stay away from threatening and confrontational language. He did not make the payment. They did not.
• Tell them how much you appreciate their past business and how much you hope to remain a long-term customer in the future.
• Briefly explain the details of what happened to cause the late payment: mention the loss of your job, personal illness, moving to a new state and not having a bank account, you usually pay online, but internet access was cut off that day due to freezing weather, a local tornado or a flood. cut the roads to the post office. Don’t make it up. Just state the facts.
• Referencing the positive steps you have taken now to prevent a late payment from happening again in the future. They will want to know that this is a one-time application. They don’t want this to happen regularly.
• Highlight the fact that you are now up to date on all your bills and point out that you caught up on your late payment right away, even if it was a real financial hardship to do so.
• Begging for help with tact. Suggest that your late payment is NOT reported to the credit reporting agencies as a goodwill gesture on your part, as you have been a good customer over the years. Ask them to put themselves in your place.
• Be direct with your request to have late fees waived by removing them from your credit report. Negative credit will do little to improve credit scores. Eliminate late payments and your credit score will go up.

Keep in mind that companies are in business to keep their customers satisfied. If they can help you, they should. If you have been a good customer and are only requesting a one-time goodwill adjustment, most business managers will react favorably because it will be in their best interest to help you keep your credit rating current.

In short, learning how to write a goodwill adjustment letter might be your best option for removing a negative list from your credit report and forging a strong bond with your creditor in the future.