GOOD WILL

LETTER
BY GROUP
MEMBER
01 Introduction to the Session

02 Team Check-in and Icebreaker

03 Storyboard

04 Summary and Action Items

1. What is a goodwill letter
In a goodwill letter, sometimes called a late payment removal letter, you ask the creditor
that reported your late payments to remove the derogatory mark from your credit reports.
Without the "goodwill" of a creditor to remove those marks, they remain on your credit
report for seven years, though the impact on your score fades with time.
2. Purpose Of Goodwill Letter

The purpose is to express regret, apologize, and request a second chance or special
consideration from the aggrieved or authoritative party. In a business context, goodwill
letters can be used to maintain good relationships with customers or partners after a
mistake or incident that has caused harm.
3. When to use a Goodwill Letter
You shouldn't send a goodwill letter to your credit card company or creditor just
because you had a late or missed payment. You need to have a good reason or excuse
for why the late payment occurred, like:

• · A temporary financial hardship

• · Delays due to switching banks or a change of address
• · Failure to set up automatic payments properly
4. When to use a Goodwill Letter
A strong late payment removal letter asks the creditor to empathize with you. It’s
pleasant and courteous. It shows that you take responsibility for your missed
payments and demonstrates that you’ll stay current on your bills in the future.

It helps if you can point to a specific circumstance, or if you can show a recent track
record of on-time payments. Keep it short and sweet.

You might consider writing a goodwill letter if you missed one or more payments
due to a medical emergency, a divorce, job loss, or a natural disaster. An issue with
mail delivery due to a move could be another valid reason to write a goodwill letter.

Once you’ve written the letter, send it to your creditor using the address listed on its
website or on your credit report. You might have to contact the creditor multiple
times or follow up with a phone call. Persistence may help persuade the creditor.
 There are 4 Most Common
Goodwill Letter:
01 Apology Goodwill Letter 03 Thank You Goodwill Letter

02 Congratulatory Goodwill Letter 04 Condolence and Sympathy Letter

Example Apology
GoodWill Letter
Example Thank
You Goodwill
Letter
 Example
Congratulatory
Goodwill Letter
 Example
Goodwill
Condolence and
Sympathy Letter
Thank you!
Have a great
day ahead.