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                                                                       How	to	ask	for	a	goodwill	adjustment
  Disclaimer:	This	post	contains	references	to	products	from	one	or	more	of	our	advertisers.	We	may	receive	compensation	(at	no	cost	to	you)	when	you	click	on	links	to	those	products.	Read	our	Disclaimer	Policy	for	more	information.	A	goodwill	letter	is	used	by	consumers	to	remove	a	late	payment	or	negative	item	from	their	credit	report.	Consumers
  send	this	letter	to	creditors	to	explain	their	reasoning	on	why	they	made	a	payment	late	or	did	not	make	a	payment	at	all.	As	we	all	know,	making	a	payment	late	or	missing	a	payment	can	severely	damage	your	credit	score.	In	fact,	one	simple	slip	up	could	drop	your	credit	score	by	50+	points	or	more.	This	credit	score	drop	makes	it	harder	to	open	a
  checking	account,	apply	for	a	credit	card,	or	receive	a	loan	with	a	competitive	interest	rate.	Even	worse,	late	payments	or	collections	accounts	can	remain	on	your	credit	report	for	up	to	7-years,	so	it	is	best	to	act	quickly	and	responsibly.	Fortunately,	a	goodwill	letter	can	help	you	avoid	this	devastating	financial	situation	and	protect	your	credit	score.
  Keep	reading	to	find	out	what	a	goodwill	letter	is	and	how	to	successfully	write	one.	What	is	a	Goodwill	Letter?	A	goodwill	letter	–	also	known	as	a	forgiveness	letter	–	is	a	letter	you	write	to	a	creditor	to	ask	them	to	remove	a	negative	item	(or	mark)	from	your	credit	report.	In	this	letter,	you	will	explicitly	state	why	you	made	the	payment	late	or	cannot
  make	the	payment	at	all.	Your	goodwill	letter	needs	to	be	persuasive,	establish	an	emotional	connection,	and	point	to	a	specific	reason	(or	hardship)	that	caused	a	financial	strain	in	your	life.	For	example,	did	you	recently	experience	an	unexpected	job	layoff?	What	about	a	family	emergency	that	dipped	into	your	emergency	savings	account?	Or	a
  recent	car	accident?	While	there	are	plenty	of	examples	you	can	lean	on,	including	a	‘hardship’	will	bolster	your	goodwill	deletion	letters	chance	of	acceptance.	Goodwill	Letter	vs	Filing	a	Dispute	Let’s	address	the	elephant	in	the	room.	A	goodwill	deletion	is	not	the	same	thing	as	filing	a	formal	dispute	with	the	credit	bureaus.	In	fact,	the	Consumer
  Financial	Protection	Bureau	(CFPB)	or	the	Fair	Trade	Commission	(FTC)	do	not	acknowledge	the	validity	of	a	goodwill	letter.	However,	this	does	not	mean	it	is	not	a	legit	strategy	to	employ	if	you	trying	to	remove	a	ding	on	your	credit	report.	It	is	important	to	note	that	it	never	hurts	to	ask.	What	is	the	worst	thing	that	can	happen?	A	creditor	tells	you,
  no?	Since	writing	a	goodwill	letter	is	not	recognized	by	governing	bodies,	your	creditor	or	lender	is	not	obligated	to	respond	or	grant	your	request.	It	is	entirely	up	to	them.	They	are	removing	the	negative	item	out	of	their	own	good	heart.	This	is	why	writing	a	goodwill	letter	is	traditionally	the	last	resort	for	consumers.	We	get	it.	Writing	a	goodwill
  letter	is	intimidating,	but	this	simple	trick	can	save	your	credit	score	if	done	right.	If	this	is	a	strategy	you	want	to	try,	then	enjoy	our	step-by-step	process	on	how	to	write	a	goodwill	letter.	FREE	Credit	Report	Before	you	begin	to	write	your	goodwill	deletion,	you	need	to	get	a	FREE	copy	of	your	credit	report.	Why?	You	need	to	know	the	exact	name	of
  the	negative	item	on	your	credit	report.	This	will	make	it	easier	for	the	credit	to	identify	it	and	successfully	remove	it.	How	to	Write	a	Goodwill	Letter	(Step-by-Step)	Alright,	let’s	get	right	to	it.	Writing	a	goodwill	letter	is	not	difficult,	nor	is	it	time-consuming.	First,	you	need	to	ask	yourself	one	question:	are	you	a	good	customer?	What	do	we	mean	by
  this?	Do	you	usually	pay	your	bills	on	time?	Have	you	been	with	this	creditor	for	a	while?	If	so,	then	this	information	needs	to	be	included	in	your	goodwill	letter.	Your	creditor	will	want	to	retain	your	business	and	recognizes	all	humans	are	prone	to	making	mistakes.	As	we	alluded	to	earlier,	you	need	to	personalize	your	goodwill	letter.	Make	sure	to
  clearly	state	why	you	failed	to	make	the	payment	on	time	and	the	reasoning	behind	this	financial	mistake.	Again,	if	you	experienced	financial	hardship,	make	sure	it	is	noted	front	and	center.	However,	it	needs	to	be	honest	and	truthful.	Your	creditor	may	ask	for	supporting	documentation,	such	as	a	pay	stub.	Keep	your	goodwill	letter	concise	and	to
  the	point.	The	last	thing	a	creditor	wants	to	read	is	a	1,000-word	document	that	is	incoherent	and	shows	no	sympathy.	You	need	to	take	ownership	of	your	mistake	and	politely	ask	for	forgiveness.	What	to	Include	in	Your	Goodwill	Deletion	Letter	Aside	from	your	personal	financial	hardship,	there	are	a	few	key	elements	to	include	in	your	goodwill
  deletion	letter.	Here	is	a	quick	list	for	you	to	review:	Your	Name	Mailing	Address	Account	Number	Personal	Story	(if	you	have	one!	Do	not	make	one	up.)	List	out	your	strategy	going	forward.	For	example,	if	you	just	got	laid	off,	tell	the	creditor	you	are	going	to	aggressively	apply	for	a	new	job.	Politely	Ask	for	Goodwill	Deletion	While	there	are	several
  things	you	can	include	in	your	goodwill	letter,	make	sure	to	include	these	items	we	listed	above.	This	will	help	organize	your	letter	and	keep	it	concise.	Review	our	simple	goodwill	letter	below	for	further	insight	and	assistance.	Sample	Goodwill	Letter	Read	this	example	goodwill	letter	to	help	you	format	and	draft	your	letter.	This	does	not	constitute
  legal	advice.	It	is	merely	for	educational	purposes.	[Today’s	Date]	[Your	Name]	[Your	Address]	Financial	Account	Number:	[your	account	number]	To	Whom	It	May	Concern:	Thank	you	for	taking	the	time	out	of	your	busy	day	to	read	this	letter.	I	have	been	a	loyal	customer	of	[creditor’s	name]	since	[date	you	joined]	and	enjoy	the	financial	services	you
  provide	to	me	each	day.	Today,	I	am	writing	because	I	noticed	my	credit	report	contains	[a	negative	entry]	reported	on	[date/dates]	for	my	[name	of	account]	account.	I	fully	recognize	and	accept	my	financial	obligations;	however,	please	let	me	explain	my	situation.	[Insert	Personalized	Financial	hardship]	I	recognize	that	I	made	a	mistake.	But	since
  then,	I	have	committed	to	myself	that	I	will	never	put	myself	in	this	negative	financial	situation	again.	Here	are	the	steps	I	have	taken	to	improve	my	financial	well-being.	[Include	how	your	circumstances	have	changed,	or	you	improved	your	financial	literacy.	Remember,	keep	it	concise	and	to	the	point.]	Since	implementing	these	strategies,	I	have	not
  missed	a	payment,	and	my	record	is	spotless.	Soon,	I	plan	on	applying	for	a	[insert	whatever	it	is.	Examples:	Mortgage,	Credit	Card,	Personal	Loan,	refinancing	a	Loan],	and	this	negative	mark	is	hurting	my	chances.	While	I	made	this	mistake	in	the	past,	it	does	not	reflect	my	current	commitment	to	financial	independence	and	creditworthiness.	I
  promise	you	this.	I	will	never	miss	a	payment	again.	With	the	date	and	item	provided	above,	I	am	politely	asking	for	you	to	make	a	goodwill	adjustment	to	remove	the	[negative	item]	on	[date]	from	my	credit	report.	Thank	you	for	your	time	and	consideration	in	this	matter.	This	would	help	my	family	and	I	out	significantly,	and	your	action	will	not	go
  unappreciated.	Please	let	me	know	if	you	have	additional	questions	or	want	to	know	more	about	my	situation.	Very	Respectfully,	***Signature***	[Your	Name]	Where	Do	I	send	a	Goodwill	Deletion	Letter?	Once	you	are	done	writing	your	goodwill	letter,	you	need	to	send	it	via	certified	mail	or	snail	mail	to	your	creditor.	Whether	it	is	a	debt	collection
  agency	or	a	corporation,	locate	their	mailing	address	and	send	it	there.	When	Should	I	Write	a	Goodwill	Letter?	You	should	write	a	goodwill	letter	as	soon	as	you	notice	the	negative	mark	on	your	credit	report.	The	quicker	you	act,	the	better.	Remember,	you	do	not	want	this	item	to	remain	on	your	credit	report	for	7-years.	Here	are	a	few	examples	of
  when	you	should	consider	writing	a	goodwill	letter.	1.	Unexpected	Job	Layoff	Job	cuts	are	not	enjoyable	for	anyone.	An	unexpected	job	layoff	will	cause	financial	strain,	spark	uncertainty,	and	make	it	difficult	to	concentrate	on	anything	else	besides	finding	a	new	job.	This	makes	it	easy	to	let	a	payment	slip	through	the	cracks.	2.	Family	Emergency	Life
  loves	to	throw	curveballs	at	us.	Undoubtedly,	a	family	emergency	can	cause	financial	strain,	especially	as	you	find	the	best	treatment	from	your	loved	one.	3.	If	You	Just	Switched	Mailing	Addresses	Did	you	recently	switch	jobs	or	move	to	a	new	mailing	address?	As	we	all	know,	moving	from	one	home	to	another	involves	a	lot	of	moving	parts.	And
  forgetting	to	update	your	mailing	address	is	a	common	mistake	most	people	make.	If	you	recently	moved	and	forgot	to	switch	mailing	address,	then	clearly	state	that	in	your	goodwill	letter.	This	is	an	honest	mistake.	4.	Payment	Transaction	Error	While	online	financial	tractions	continue	to	gain	traction	in	our	economy,	they	are	far	from	perfect.	If	you
  are	like	me	and	love	to	automate	your	monthly	payments,	get	into	the	habit	of	routinely	checking	your	financial	institution’s	website.	Like	all	internet	transactions,	they	are	subject	to	connectivity	and	processing	issues.	Maybe	your	transaction	did	not	process	due	to	a	tech	issue.	This	is	more	common	than	you	think	and	can	put	consumers	at	risk.	Do
  Goodwill	Deletion	Letters	Work?	Goodwill	deletions	letters	do	work;	however,	they	are	rarely	granted.	Why?	Let’s	think	about	it.	Companies	do	not	want	to	allocate	resources	if	they	are	not	getting	anything	in	return.	First	and	foremost,	they	are	a	business	and	need	to	make	money.	However,	some	companies	do	value	their	customer	experience,	so
  they	may	be	willing	to	grant	you	a	goodwill	adjustment.	Especially,	if	you	just	prevailed	through	a	financial	hardship	that	flipped	your	world	upside	down.	And	as	we	alluded	to	earlier,	it	does	not	hurt	to	ask.	The	worst	thing	they	can	tell	you	is	no.	So,	if	you	exhausted	all	options,	then	try	writing	a	goodwill	letter.	If	you	are	serious	about	removing	a
  negative	item	from	your	credit	report,	then	seriously	consider	hiring	a	credit	repair	company.	Bringing	years	of	experience	to	the	table	and	proven	success,	credit	repair	companies,	can	successfully	remove	this	ding	from	your	credit	report.	Credit	Saint	is	a	reputable	credit	repair	firm	that	has	helped	thousands	of	consumers	clean	up	their	credit
  report	and	fix	their	credit.	Give	them	a	try.	Learn	More:	Credit	Saint	Review	What	Can	a	Goodwill	Deletion	Letter	Remove	from	Your	Credit	Report?	Goodwill	adjustments	can	remove	a	handful	of	damaging	items	from	your	credit	report.	Here	is	a	complete	list	of	what	a	goodwill	deletion	can	remove:	How	Do	You	Ask	for	Goodwill	Deletion?	The	best
  way	to	ask	for	a	goodwill	deletion	is	by	submitting	a	goodwill	letter.	Follow	our	step-by-step	playbook	above	to	craft	a	personalized	goodwill	letter.	You	can	also	call	your	creditor	to	see	if	they	will	even	acknowledge	your	goodwill	adjustment	request,	or	if	they	will	just	flat	out	throw	it	away	as	soon	as	they	open	it.	Most	consumers	find	success	by
  mailing	their	letter	directly	to	the	creditor	and	not	giving	them	a	heads	up.	Goodwill	Letter	Benefits	Goodwill	deletion	letters	give	consumers	a	fighting	chance.	Even	though	they	are	rarely	granted,	writing	a	goodwill	letter	allows	you	to	potentially	remove	a	damaging	item	from	your	credit	report.	Alternatives	to	Writing	a	Goodwill	Letter	There	are	a
  few	alternatives	to	writing	a	goodwill	letter	that	we	like	more.	These	two	ways	are	proven	to	work	and	will	help	you	repair	your	credit.	1.	Professional	Removal	If	you	are	dead	set	on	removing	an	item	from	your	credit	report,	then	the	best	thing	to	do	is	to	hire	a	credit	repair	company	or	repair	your	credit	yourself.	They	bring	years	of	experience	and
  know	the	credit	industry	like	it	is	the	back	of	their	hand.	From	removing	late	payments	to	collections,	and	everything	in	between,	credit	repair	companies	are	subject	matter	experts.	They	will	get	the	job	done	quickly	and	responsibly.	2.	Negotiate	a	Pay	for	Delete	Another	strategy	to	consider	is	negotiating	a	pay-for-delete.	As	the	name	suggests,	you
  will	pay	the	creditor	an	agreed-upon	amount	in	exchange	for	the	removal	of	the	negative	item.	This	strategy	has	a	higher	chance	of	success;	however,	there	a	few	things	to	keep	in	mind.	If	both	you	and	the	creditor	settle	on	a	pay-for-delete	agreement,	make	sure	to	get	it	in	writing.	Ensure	both	you	and	the	creditor	sign	the	document.	Signing	the
  document	will	bolster	your	case	if	you	have	to	escalate	it	further	to	the	legal	system	or	Consumer	Financial	Protection	Bureau	(CFPB).	Wrapping	Up:	Write	Goodwill	Letters	Goodwill	letters	work	best	if	you	have	a	strong	relationship	with	your	creditor.	It	is	also	successful	if	you	recently	experienced	a	financial	hardship	and	are	looking	to	improve	your
  credit	score.	But	remember,	goodwill	adjustments	are	rare	and	decided	on	a	case-by-case	basis.	There	is	no	‘true’	way	to	write	a	goodwill	letter.	The	best	thing	to	do	is	to	give	it	your	best	shot,	and	if	it	does	not	work	then	hire	a	credit	repair	company.