Posted on: 05th Jul, 2012 12:06 am
I've sent to goodwill letters to Credit One bank so that they delete my 60 day late payment from my credit report. But they replied that it is their policy to report all payment histories to the Credit Bureaus as the payment received and credited to the account. All Credit One bank accounts are reported to credit agencies every thirty days. Therefore, they are unable to grant the request to remove the delinquencies that have been reported. Has anyone had luck with this company?
Hi Shanky,
Not all banks/creditors will accept goodwill letters. Moreover, it is not mandatory for them to accept the goodwill letters. It will be completely their discretion whether or not they will accept the letter. May be as per the Credit One bank's policies, they won't accept such letters.
Thanks
Not all banks/creditors will accept goodwill letters. Moreover, it is not mandatory for them to accept the goodwill letters. It will be completely their discretion whether or not they will accept the letter. May be as per the Credit One bank's policies, they won't accept such letters.
Thanks
Welcome Shanky,
I agree with what James has said. It is not mandatory for the creditors/collection agencies to accept goodwill letters. It will depend upon your negotiation powers whether or not you can convince the lender to consider your request to accept the goodwill letter.
I agree with what James has said. It is not mandatory for the creditors/collection agencies to accept goodwill letters. It will depend upon your negotiation powers whether or not you can convince the lender to consider your request to accept the goodwill letter.
I've never heard of a "goodwill letter" ... what is it?
Hi Raymond,
A "Goodwill Letter" is a letter requesting a creditor to remove a late payment because you've been a good customer. If you can prove that you have been a good and loyal customer before an unfortunate circumstance lead to a default, the creditor may remove late payments out of the goodness of their hearts. You can check out a sample goodwill letter here: "http://www.creditinfocenter.com/forms/sampleletter8.shtml"
Thanks
A "Goodwill Letter" is a letter requesting a creditor to remove a late payment because you've been a good customer. If you can prove that you have been a good and loyal customer before an unfortunate circumstance lead to a default, the creditor may remove late payments out of the goodness of their hearts. You can check out a sample goodwill letter here: "http://www.creditinfocenter.com/forms/sampleletter8.shtml"
Thanks
A borrower can send goodwill letter to a lender. But it is not mandatory for the lender to accept the letter.