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Does a Goodwill Letter Really Work?
Goodwill exceptions are never guaranteed, even in the circumstances detailed above.
Identify the late payments date and the amount reported.
You should also collect the lenders contact information.
Dont forget to stress your past good payment history or your long standing relationship with the lender.
Acknowledge that while the payment was your responsibility, youre requesting a goodwill exception.
At this point, confirm you express gratitude.
you’re free to also show proof of job loss to explain recent financial struggles.
Showing financial recovery or proof of the extenuating circumstances can help improve your chances of agoodwill exception approval.
Step 5: Proofread and Send Your Letter
Review your goodwill letter carefully.
double-check that the letter is both clear and professional, and that it thanks the lender for their time.
Some companies recommend sending the letter by certified mail, so you have proof that it was accepted.
It should read both professional and sincere.
According to my credit report, a payment was reported late on [exact date of late payment].
The late payment occurred due to [brief, honest explanation of the circumstances].
I understand that making timely payments is my responsibility, and I apologize for the delay.
During this time, Ive maintained a positive payment history.
This late payment is an unfortunate exception to my otherwise consistent record.
Thank you for your time and consideration of my request.
I greatly appreciate our relationship and look forward to continuing as a valued customer for many years to come.
Sincerely,
[Your Signature]
[Your Printed Name].
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