Understanding Goodwill Letters and Credit Repair
A goodwill letter is a formal request you send to a creditor asking them to remove negative information from your credit report, even if the information is accurate. This is *not* a legal right; it’s a request based on your positive payment history before and after the slip-up. It works best if you’ve otherwise been a responsible borrower and have a good explanation for the late payment or other negative mark. The key is sincerity and demonstrating a commitment to responsible financial behavior.
Key Elements of an Effective Goodwill Letter
A strong goodwill letter should clearly identify the account and the specific item you’re requesting to be removed. Explain the circumstances that led to the negative mark – be honest and concise. Emphasize your positive payment history *before* the issue, and highlight your responsible behavior *since* then. Express regret and take responsibility for the error, and clearly state your request for the negative mark to be removed. Remember to maintain a respectful and polite tone throughout the letter.
Tips for Increasing Your Chances of Success
Before sending a goodwill letter, make sure the negative information is accurate. If it’s not, dispute it with the credit bureaus directly. Focus on one negative mark at a time. Consider sending the letter via certified mail with return receipt requested so you have proof of delivery. Be patient; it can take several weeks or months to receive a response. If you’re denied, don’t be afraid to try again with a revised letter. Consistent communication and demonstrating your improved financial habits can make a difference.
Sample Goodwill Letters: Templates You Can Use
Sample 1: General Late Payment
[Your Name]
[Your Address]
[Your Phone Number]
[Your Email Address]
[Date]
[Creditor Name]
[Creditor Address]
Subject: Request for Goodwill Adjustment – Account [Account Number]
Dear [Contact Person or Customer Service Department],
I am writing to respectfully request a goodwill adjustment regarding a late payment reported on my credit report for account number [Account Number]. The late payment occurred on [Date of Late Payment]. Prior to this, I had consistently made on-time payments for [Number] months, demonstrating my commitment to fulfilling my financial obligations.
At the time of the late payment, I was experiencing [Brief explanation of reason for late payment – e.g., unexpected medical expenses, temporary job loss]. Since then, I have regained my financial stability and have made all subsequent payments on time.
I understand that late payments can negatively impact credit scores, and I regret that this occurred. I value my relationship with [Creditor Name] and am committed to maintaining a positive credit history. Therefore, I respectfully request that you consider removing this late payment from my credit report as a goodwill gesture.
Thank you for your time and consideration. I appreciate your understanding and willingness to assist me in this matter.
Sincerely,
[Your Signature]
[Your Typed Name]
Sample 2: After a Major Life Event
[Your Name]
[Your Address]
[Your Phone Number]
[Your Email Address]
[Date]
[Creditor Name]
[Creditor Address]
Subject: Goodwill Adjustment Request – Account [Account Number]
Dear [Contact Person or Customer Service Department],
I am writing to request a goodwill adjustment to my credit report concerning a [Type of negative mark – e.g., late payment] associated with account number [Account Number]. This negative mark occurred on [Date].
As you may understand, [Briefly explain the major life event – e.g., the passing of a family member, a serious illness] significantly impacted my ability to manage my finances during that period. I deeply regret any inconvenience this caused.
Prior to this challenging time, I maintained a strong payment history with your company for [Number] years. Since then, I have taken steps to regain control of my finances and have consistently made on-time payments on all my accounts. I am committed to responsible financial management.
I am hopeful that you will consider my situation and grant my request for a goodwill adjustment to remove this negative mark. Your understanding would be greatly appreciated.
Thank you for your time and consideration.
Sincerely,
[Your Signature]
[Your Typed Name]
Sample 3: Medical Debt (HIPAA Compliant Language)
[Your Name]
[Your Address]
[Your Phone Number]
[Your Email Address]
[Date]
[Creditor Name]
[Creditor Address]
Subject: Goodwill Adjustment Request – Account [Account Number] – Medical Debt
Dear [Contact Person or Customer Service Department],
I am writing to request a goodwill adjustment regarding a [Type of negative mark – e.g., collection account] appearing on my credit report related to medical debt under account number [Account Number]. The original date of the [Type of negative mark] is [Date].
I understand that medical debt can sometimes be complicated, and I have since resolved the underlying medical bill with [Name of Medical Provider/Collection Agency]. I have been consistently paying my other obligations on time and am committed to maintaining a positive credit history.
While I understand your reporting obligations, I respectfully request that you consider a goodwill gesture to remove this [Type of negative mark] from my credit report. I believe its removal would more accurately reflect my current financial standing. This request does *not* constitute an admission of responsibility for the debt if there are any unresolved disputes regarding billing accuracy or coding, and I am committed to upholding my rights under HIPAA.
Thank you for your understanding and consideration.
Sincerely,
[Your Signature]
[Your Typed Name]
Sample 4: Limited Credit History (Young Adults)
[Your Name]
[Your Address]
[Your Phone Number]
[Your Email Address]
[Date]
[Creditor Name]
[Creditor Address]
Subject: Goodwill Adjustment Request – Account [Account Number]
Dear [Contact Person or Customer Service Department],
I am writing to request a goodwill adjustment regarding a late payment on my account [Account Number]. This late payment occurred on [Date]. As a relatively new cardholder, I am still learning about responsible credit management.
I understand the importance of making timely payments and regret missing the deadline. Since then, I have been diligent about paying my bills on time and in full. I have also implemented strategies, like setting up automatic payments, to prevent future late payments.
I am hoping you will consider my request for a goodwill adjustment, as I am committed to building a positive credit history. I have been a valued customer and plan to continue our relationship for years to come. Thank you for your consideration.
Sincerely,
[Your Signature]
[Your Typed Name]
Sample 5: One-Time Oversight
[Your Name]
[Your Address]
[Your Phone Number]
[Your Email Address]
[Date]
[Creditor Name]
[Creditor Address]
Subject: Goodwill Adjustment Request – Account [Account Number]
Dear [Contact Person or Customer Service Department],
I am writing to respectfully request a goodwill adjustment to remove a late payment from my credit report for account number [Account Number]. The late payment occurred on [Date], and it was a completely unintentional oversight.
I have been a loyal customer of [Creditor Name] for [Number] years and have always made my payments on time. I value my relationship with your company and pride myself on maintaining a good credit standing.
I can assure you that this late payment was an isolated incident and will not happen again. To ensure future payments are made on time, I have set up automatic payments for this account. I would greatly appreciate it if you would consider removing this late payment from my credit report as a gesture of goodwill.
Thank you for your time and consideration.
Sincerely,
[Your Signature]
[Your Typed Name]
Sample 6: Dispute Resolved (But Still Reported)
[Your Name]
[Your Address]
[Your Phone Number]
[Your Email Address]
[Date]
[Creditor Name]
[Creditor Address]
Subject: Goodwill Adjustment Request – Account [Account Number] – Dispute Resolved
Dear [Contact Person or Customer Service Department],
I am writing to request a goodwill adjustment concerning [Type of negative mark, e.g., a late payment, a collection account] related to account number [Account Number]. This matter stems from a previous dispute, which has now been fully resolved to my satisfaction. I am writing because the negative information is still appearing on my credit report despite the resolution.
The dispute involved [Brief, neutral explanation of the original dispute – e.g., a billing error]. I am pleased to confirm that the issue was resolved on [Date] and [Explain how it was resolved – e.g., the charges were removed, a payment plan was agreed upon]. I have documentation to support this resolution, which I can provide if necessary.
Since the resolution, I have been diligently fulfilling my obligations. I believe that the continued reporting of this [Type of negative mark] does not accurately reflect my current creditworthiness. Therefore, I respectfully request that you consider removing it from my credit report as a gesture of goodwill, given that the underlying issue has been resolved.
Thank you for your time and consideration in this matter.
Sincerely,
[Your Signature]
[Your Typed Name]
Sample 7: Asking After Consistent Payments
[Your Name]
[Your Address]
[Your Phone Number]
[Your Email Address]
[Date]
[Creditor Name]
[Creditor Address]
Subject: Goodwill Adjustment Request – Account [Account Number]
Dear [Contact Person or Customer Service Department],
I am writing to request a goodwill adjustment concerning [Type of negative mark, e.g., a late payment] on account [Account Number], dated [Date]. I acknowledge that this occurred due to [Brief, factual explanation].
Since then, I have consistently made timely payments for the past [Number] months. I want to show my commitment to honoring my financial obligations and repairing my credit score.
Given my history with your company and my recent consistent on-time payments, I am requesting that you consider removing the negative mark on my credit report. I am thankful for your time and consideration of this request.
Sincerely,
[Your Signature]
[Your Typed Name]
Sample 8: Closed Account
[Your Name]
[Your Address]
[Your Phone Number]
[Your Email Address]
[Date]
[Creditor Name]
[Creditor Address]
Subject: Goodwill Adjustment Request – Closed Account [Account Number]
Dear [Contact Person or Customer Service Department],
I am writing to you today to respectfully request a goodwill adjustment to my credit report concerning a [Specific negative mark – e.g., late payment, collection account] associated with closed account number [Account Number]. This [Specific negative mark] occurred on [Date].
The account has since been closed, and I have [Explain the situation regarding the closure – e.g., paid off the balance in full, settled the debt]. I understand that negative information can remain on my credit report even after an account is closed.
Given that the account is now closed and [Explain again – e.g., the debt has been satisfied], I would greatly appreciate it if you would consider removing this [Specific negative mark] from my credit report as a gesture of goodwill. I am trying to improve my credit and any consideration would be greatly appreciated.
Thank you for your time and consideration.
Sincerely,
[Your Signature]
[Your Typed Name]
Sample 9: Specific Hardship (Documented)
[Your Name]
[Your Address]
[Your Phone Number]
[Your Email Address]
[Date]
[Creditor Name]
[Creditor Address]
Subject: Goodwill Adjustment Request – Account [Account Number] – Documented Hardship
Dear [Contact Person or Customer Service Department],
I am writing to respectfully request a goodwill adjustment regarding [Specific negative mark – e.g., a late payment] reported on my credit report for account [Account Number], which occurred on [Date]. I understand the importance of timely payments and deeply regret this occurrence.
At the time of the missed payment, I was experiencing a significant hardship due to [Clearly state the hardship – e.g., unemployment, documented disability, significant unexpected expenses]. I have attached documentation [Mention specific documentation – e.g., unemployment paperwork, medical records (with appropriate redactions), etc.] to verify this hardship.
Since overcoming this challenging period, I have been diligent in meeting my financial obligations and have made all subsequent payments on time. I am committed to maintaining a good credit standing and would be incredibly grateful if you would consider removing this single late payment as a goodwill gesture, given the documented circumstances.
Thank you for your time, understanding, and consideration.
Sincerely,
[Your Signature]
[Your Typed Name]
Sample 10: Mistake in Reporting (Even if Now Corrected)
[Your Name]
[Your Address]
[Your Phone Number]
[Your Email Address]
[Date]
[Creditor Name]
[Creditor Address]
Subject: Goodwill Adjustment Request – Account [Account Number] – Previous Reporting Error
Dear [Contact Person or Customer Service Department],
I am writing to request a goodwill adjustment regarding a [Type of Negative mark, e.g. Late Payment] associated with account number [Account Number] on my credit report from [Date]. This [Type of Negative mark] stemmed from an error in reporting, which I have since successfully disputed and corrected.
While the error has been corrected and the account is now reported accurately, the initial [Type of Negative mark] continues to affect my credit score. Because it was a mistake on the part of [Creditor Name/Reporting Agency], I would greatly appreciate it if you considered removing this negative record as a goodwill gesture. I value my relationship with [Creditor Name].
Thank you for your time and consideration of my request. I look forward to your response.
Sincerely,
[Your Signature]
[Your Typed Name]
Sample 11: Offer to Automate Payments
[Your Name]
[Your Address]
[Your Phone Number]
[Your Email Address]
[Date]
[Creditor Name]
[Creditor Address]
Subject: Goodwill Adjustment Request – Account [Account Number] – Offer to Automate Payments
Dear [Contact Person or Customer Service Department],
I am writing to respectfully request a goodwill adjustment for a single late payment on account [Account Number], which occurred on [Date]. I understand the impact of late payments on credit scores and regret this oversight.
To prevent any future occurrences, I am proactively offering to set up automatic payments from my checking account for this account. This demonstrates my commitment to ensuring all future payments are made on time. I am willing to provide proof of enrollment in automatic payments if needed.
In light of my commitment to preventing future late payments and my willingness to automate the payment process, I would greatly appreciate it if you would consider removing the single late payment from my credit report as a goodwill gesture. Thank you for your time and consideration.
Sincerely,
[Your Signature]
[Your Typed Name]
Sample 12: Small Balance Owed (Now Paid)
[Your Name]
[Your Address]
[Your Phone Number]
[Your Email Address]
[Date]
[Creditor Name]
[Creditor Address]
Subject: Goodwill Adjustment Request – Account [Account Number] – Small Balance Now Paid
Dear [Contact Person or Customer Service Department],
I am writing to you today regarding a [Type of Negative Mark, e.g., Collection account] for account [Account Number]. I have now paid that small balance. This account was originally for a small amount of [Amount], and now that I have paid this balance off, I would like to request for it to be removed from my credit report.
I have been a customer of [Creditor Name] for many years. Now that this account balance has been resolved, I request that you perform a goodwill adjustment and remove this account from my credit report.
Thank you for your time and consideration.
Sincerely,
[Your Signature]
[Your Typed Name]
Sample 13: Offer to Close Account After Adjustment
[Your Name]
[Your Address]
[Your Phone Number]
[Your Email Address]
[Date]
[Creditor Name]
[Creditor Address]
Subject: Goodwill Adjustment Request – Account [Account Number] – Offer to Close Account
Dear [Contact Person or Customer Service Department],
I am writing to request a goodwill adjustment for a [Type of Negative Mark, e.g. late payment] related to account number [Account Number], reported on [Date]. I understand the importance of maintaining a positive credit history, and I am committed to responsible financial management.
To demonstrate my commitment and alleviate any concerns about future issues, I am willing to close this account immediately following a goodwill adjustment to remove the [Type of Negative Mark] from my credit report. I hope this will show that you will consider a gesture of goodwill in my situation.
Thank you for your time and considering this matter. I am looking forward to a positive outcome with you.
Sincerely,
[Your Signature]
[Your Typed Name]
Conclusion: Goodwill Letters Can Help, But Are Not Guaranteed
While goodwill letters can be a valuable tool in credit repair, it’s crucial to remember that their success is not guaranteed. Creditors are not obligated to grant your request. However, a well-written, sincere, and persuasive letter, combined with a track record of responsible financial behavior, can significantly increase your chances of a positive outcome. Persistence and a proactive approach to managing your credit are key.