Late Payment Removal Letter Template

It s in their best interest to keep you as a customer.

Late payment removal letter template. But if you write what s called a goodwill letter to the company that reported the late payment you may be able to get them to remove the late payment on your credit reports. Goodwill letters are nothing more than a plea to an institution banks credit card companies automotive companies hospitals utilities etc to remove any late payments you may have had from your three major. Now that you know the key ingredients of a goodwill letter it s time to put your thoughts on paper. The above template is one such template which will definitely be of good use.

Even if you have very good credit you might see your credit scores drop at least 30 50 points from a single late payment. What s more these derogatory marks can last on your credit score for 7 10 years. If you re wondering how best to structure those thoughts i m pleased to share a sample goodwill letter that addresses a late payment for a credit card. Goodwill letter sample for late payment.

The more severe the delinquency the larger the impact. One of the most successful blog posts i ve ever written on this personal finance site is the one about removing late payments from your credit reports by using a goodwill letter. A goodwill letter is a request to remove a record of late payments from a customer who is now current on the debt. No one is obligated to remove accurate information from your credit history but companies are eager to satisfy you their customer.

It has not been previewed commissioned or otherwise endorsed by any of our network partners. A goodwill letter is a simple way to restore your credit to good standing by requesting that a lender or servicer erase a late payment on your credit report. Name address phone creditor name creditor address date. If the payment is now up to date you should try simply asking the company to remove the late payment from your credit report.

A payment that s 60 days late is worse for your credit than one that s 30 days late and 90 days late is even worse than that. This could help raise your credit score and. They can be effectively used for both federal and private loans as well as credit cards and accounts with just about any financial institution. A late payment can damage your credit.

The following is a goodwill letter requesting that a credit card company remove a late payment from your credit report because you ve been a good customer. Sample goodwill letter to remove a late student loan payment from your credit report editorial note. You may use this letter with any creditor but we highly recommend that you revise the letter to fit your circumstance.