Probably, the only thing you can do is ask for a ``goodwill deletion.'' Tell them why you were late, be humble, and put yourself on autopay. Say this will never happen again.
Goodwill Adjustment: If you have a generally good payment history with the creditor, you can write a goodwill letter requesting the removal of the late payment. Explain any extenuating circumstances that led to the late payment and highlight your otherwise positive history.
You can write a goodwill letter to the creditor asking them to remove the charge-off from your credit report. Explain your situation and why they should make an exception for you.
It's important to acknowledge your misstep in the letter and provide a short explanation for why you missed or were late on a payment. Perhaps you lost your job, had sudden medical bills, or experienced another financial hardship. You can also talk about how the negative impact on your credit score is affecting you.
You can ask them—very politely—what it would take to have the charge-off removed. At the very least, they'll likely ask you to pay back a portion of what you owe. In this situation, some creditors may offer a “Pay for Delete” agreement. Bear in mind that some, but not all, creditors allow this type of agreement.
A 609 letter won't erase valid negative marks like late payments, defaults, or collections if the information has been verified and is correct. Additionally, 609 letters won't relieve you of your obligation to repay any existing debt.
When explaining a delay in payment, honesty and transparency are key. Begin by acknowledging the missed deadline and express your commitment to resolving the situation. Clearly state the reason for the delay, whether it's a financial discrepancy, processing error, or unforeseen circumstances.
A goodwill letter is a formal letter sent to a creditor, lender or collection agency to request forgiveness for a late payment or other negative item on your credit report. In the letter, you typically: Explain the circumstances that led to the late payment or issue.
This letter is often called a good faith letter. And it is needed under many courts' rules before you can file a motion to compel discovery if the other party ignores your requests or provides evasive responses or move for sanctions if your opponent refuses to comply with the court's discovery order.
As I mentioned in the intro, goodwill letters can be effective, but there's no guarantee they'll work. Success rates vary depending on the creditor, your credit history, and the specific circumstances surrounding the negative mark.
I understand that my company owes your company (Exact amount of money), and I am writing this letter in order to apologize for the late payment. The payment will be sent to you by (date). We have been having a slight problem with our accounts systems although we have now corrected the problem.
If you missed a payment because of extenuating circumstances and you've brought account current, you could try to contact the creditor or send a goodwill letter and ask them to remove the late payment.
I truly believe that it doesn't reflect my creditworthiness and commitment to repaying my debts. It would help me immensely if you could give me a second chance and make a goodwill adjustment to remove the late [payment/payments] on [date/dates]. Thank you for your consideration, and I hope you'll approve my request.
A 609 dispute letter is a formal request sent to credit bureaus to verify the accuracy of the information on your credit report. The name “609” comes from Section 609 of the Fair Credit Reporting Act (FCRA), which grants you the right to request this information.
If there's an incorrect late payment on your credit reports, you can file a dispute with the creditor or the corresponding credit bureau to try and get the mark removed. But if the late payment is correct, you should know you probably won't be able to get rid of the derogatory mark before its time.
When you send a creditor a goodwill letter, you're asking it to contact the credit bureaus to remove a legitimate negative mark from your credit reports (one for which you're at fault).
Dear [insert collector's name] [or Collection Manager], I am writing in reference to a debt claimed under the account number listed above. I wish to settle this debt in full without prejudice, in return for removal of its “charge-off” status with any credit reporting agencies that you have reported to.
' If you truly don't feel like the service is worthy of the charge on the bill, don't get mean about it, just be, as John-Paul recommends, 'direct and honest'. 'No reason needs to be given,' he goes on, 'however, if you are asked, then give your polite feedback in an honest, but short to-the-point manner.