Glossary
Goodwill Letter
A non-FCRA letter asking a creditor's customer-relations team to remove an accurate adverse mark as a courtesy.
A goodwill letter is a non-FCRA tool: a polite letter to a creditor's customer-relations department asking them to remove an accurate adverse mark as a one-time courtesy. Unlike FCRA disputes, goodwill is voluntary on the creditor's part.
Goodwill letters work best when: the late mark is a one-time mistake, the consumer has long history of on-time payments, the late was years ago, and the creditor has a customer-relations culture (Discover, USAA, BofA).
Success rate: roughly 30%. Cost: a stamp + 20 minutes.
Also called
goodwill removal
Related terms
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