Who Do I Send a Goodwill Letter To?

A goodwill letter serves as a formal request to a creditor or collection agency to remove a negative entry, such as a late payment, from your credit report. This request is typically made when the negative mark resulted from unusual or extenuating circumstances, rather than chronic financial mismanagement. Its objective is to improve your credit standing by addressing a specific incident that may be impacting your credit score. They appeal for understanding and a favorable adjustment based on your otherwise responsible financial behavior.

Identifying the Appropriate Party

When preparing a goodwill letter, identifying the correct recipient is a first step. The letter should be directed to the entity that reported the negative information to the credit bureaus. This is most commonly the original creditor, such as a bank or credit card company. If the debt has been sold, a goodwill letter may also be sent to the collection agency currently reporting the account.

It is most effective to send the letter to the specific department responsible for credit reporting or customer service. While a general corporate address might eventually reach the right place, directly addressing the relevant department, if known, can expedite processing.

Some institutions may have dedicated email addresses or online portals for such inquiries, identifiable by contacting customer service or checking their website. If both an original creditor and a collection agency are reporting the same negative item, it may be beneficial to send a goodwill letter to both entities.

Key Information to Include

An effective goodwill letter requires specific details for identification. Begin with your full name, current address, phone number, and account number associated with the debt. Include the last four digits of your Social Security number. Clearly state the specific negative item you are requesting to be removed, including the date of the late payment or other negative mark.

The body of the letter should offer a concise and honest explanation of the circumstances that led to the issue, such as a medical emergency, job loss, or a one-time oversight. Take responsibility for the missed payment and express sincere regret, rather than making excuses.

Conclude by clearly stating your request for a “goodwill adjustment” to remove the negative mark from your credit report. You may also highlight your otherwise positive payment history and commitment to responsible financial management since the incident.

Submitting Your Goodwill Letter

Once your goodwill letter is prepared, select the appropriate submission method. While some creditors may accept email or online submissions, sending the letter via postal mail, particularly certified mail with a return receipt, is recommended. Certified mail provides proof that the letter was sent and received, which can be important for your records.

Regardless of the method, keep a copy of the letter and any supporting documentation. If sending via postal service, retain the certified mail receipt.

After submission, monitor your credit reports to see if the negative mark has been removed, as creditors are not obligated to notify you if they grant your request. If you do not receive a response or see a change within a few weeks, a follow-up call or letter may be appropriate.