Letter of Goodwill

A Letter of Goodwill is a written request from a debtor to a creditor or debt collector, asking them to consider removing or suppressing negative information from the debtor’s credit report, as a gesture of goodwill and in recognition of the debtor’s efforts to resolve the debt and improve their financial situation. The letter typically includes details about the debt, such as the account number, the original balance, and the current status, as well as an explanation of the circumstances that led to the negative reporting, such as a temporary hardship or oversight. The letter may also include evidence of the debtor’s recent positive payment history, such as receipts or statements showing consistent and timely payments on the debt or other accounts. The purpose of a Letter of Goodwill is to seek the creditor’s voluntary cooperation in helping the debtor to repair their credit and to demonstrate the debtor’s commitment to responsible financial management. The letter should be polite, concise, and persuasive, and may be sent after the debt has been fully paid or settled.