Psalms 37:21 – “The wicked borroweth, and payeth not again: but the righteous sheweth mercy, and giveth“.
Late Payments: Get Them Removed
Late Payments: Get Them Removed. One of the best ways to improve your credit score is to explain your situation. Ask for a little goodwill by writing a goodwill letter.
Sometimes, negative remarks are added to your credit file even though the account is not in collections.
If the missed payment(s) is now up-to-date, you could ask the credit bureaus to remove the late payment from your credit report.
Some credit experts recommend contacting the creditor but I’d recommend going straight to the bureaus.
No one is obligated to remove accurate information from your credit report.
Companies are eager to satisfy you, their customer. It’s in their best interest to keep you as a customer.
Why send a goodwill letter
There’s no guarantee that a goodwill letter will remove late payments from your credit report.
This is not a dispute with credit bureaus where you’re challenging the validity of the item.
But there are several situations where you’ll have the best chance of receiving a positive response from your creditor.
If you missed a payment, but are otherwise a good customer making timely payments.
You could still successfully request a removal with a the goodwill letter.
As a paying customer. Many creditors appreciate the fact that they depend on people like you to keep their businesses running.
Writing a goodwill letter
Keep a few things in mind.
- Be courteous
- Give a valid reason for the removal (e.g., buying a home etc.)
- Friendly tone is key.
Sample Goodwill Letter
Note: its best to dispute inaccurate information on your credit file before sending a goodwill letter.
——————————————————————————————————————
[Date]
[Your Name]
[Your Address]
[Your City, State, Zip Code]
Complaint Department
[Credit Bureau Name]
[Street Address]
[City, State, Zip Code]
I am writing to dispute the following information that your business provided to [include the name of the creditor whose report has wrong information]. I have outlined the item[s] I am disputing the item(s) attached to the copy of the credit report I received.
This [These] item[s] [identify item(s) disputed by type of item, such as credit account, judgment, etc., and your account number or another method for the business to locate your account] is [wrong or incomplete] because [describe what is wrong and why]. I am asking that [name of company] have the item[s] removed [or corrected] to my account information.
Attached are copies of [describe any attached documents, such as payment records and court documents] to aid in my dispute. Please review this [these] matter[s] and contact the national credit bureaus to have them [delete or correct] the disputed item[s] as soon as possible.
Sincerely,
Your name
Enclosures: [List what you are including.]
DISCLAIMER: I am not a financial adviser. This site is for educational purposes only. It is imperative that you do your own research. I am sharing my opinion from personal research and experience with no guarantee of gains or losses on investments, finance etc.
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