One way to improve your credit rating is to write a goodwill request to a creditor asking for a change to an account reported to the credit bureaus. The request outlines why you were delinquent or missed payments, and usually is written after several on-time payments.
Function
A goodwill request is usually reserved for a rare or out-of-the-ordinary late payment, or for one missed payment after months of on-time payments. Goodwill requests are not usually made after multiple late payments.
Process
You must request a goodwill adjustment in writing to the creditor. Write a letter to explain the circumstances around the late payment and request that the company change the information in the credit file.
Considerations
Your chances for getting a goodwill adjustment improve the better your track record is with the company and the better your credit score is overall. Make sure to mention in the goodwill request your past payment history.
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