How to Write A Goodwill Letter

If you have a messy credit history, this article isn’t for you.

What is a Goodwill Letter?

A goodwill letter, otherwise known as a goodwill adjustment letter, is written as a request to remove a missed payment from your credit report. To wipe this black spot off your white cloth, you’re at the total empathy of the card issuer and there is no obligation on the part of the reader to do as you ask. If you can make a case and explain your situation, only then it will work.

When Are You Allowed to Send a Goodwill Letter?

            A goodwill letter can be sent in any of the following circumstances:

• If there was a glitch in your creditor’s website, their server was down, or for other technical errors.
• If autopay didn’t work because you didn’t have enough funds in your account.
• If you are regular with the payments and this one time it was an honest mistake.
• If there were medical causes for which you or a family had to be in the hospital.
• If you are facing financial hardships or were facing one at that time. For example, lost your job or got divorced.
• If you moved out and failed to get the bill at your new place.

What to Include in Your Letter:

            These are the basics of writing a goodwill letter:

• Start with mentioning your account number and the necessary details.
• Add as a part of salutation, “To Whom It May Concern”.
• State why you are writing. Don’t sound angry or hurry them into taking decisions in the first line. Be graceful in writing, and if you can, thank them for taking into account your request.
• Explain the situation that caused the problem, and take full responsibility.
• Mention the steps that you took to resolve the problem.
• Ensure that it won’t happen again.
• If this is having a negative impact on any of your personal/official handlings, mention that too. This will make them believe why it is important for you.
• Bring up your credit history to show them that by giving you the chance of goodwill adjustment, they aren’t risking it.
• End with asking for consideration yet again.

Tips to Remember:

            Take care of the following matters as you write:

• Be extremely polite. If possible, (I think you should) appreciate them for how they have helped in the past.
• Don’t write an essay trying to explain things. Include what is relevant. Your credit history will work more than crying your eyes out. The proof is key.
• Make sure it reaches the right person. Finance Department is more preferable than Customer Service if you ask me.
• Explain that you will stay on track. Don’t complicate things, but don’t be vague. Show them how earnest you are to have it removed and explain that you will be on track in future.
• You might need to send a follow-up letter because there’s little possibility you will have things done in one go.

To remind you again, there’s no guarantee your letter will make things better. But luck and a well-written letter might have you covered.