Sample Credit Report Goodwill Letter
2010
Late Payments on Credit Report. How do I get them off. Goodwill letter help??
I have a number of late payments on my report. One for a macy’s credit card and another for my bank of america. How do I ge them off! They were late because I was just out of college and did not have a job. I have since paid them down and have been making regular on-time payments but they are literally killing. I have a total of 15 late payments. 10 for Macy’s and the other 5 for bank of america.
I was thinking I would send a goodwill letter for the late payments that occur in 2005 and 2006 (July 2005, June 2006, September 2006 & Oct 2006)
Any advice?? I cannot wait 7 years for them to fall off. I now have a great job and want to buy a condo but my credit score is 545 and is kicking my butt! Thanks for your help. If you recommend writing a goodwill letter, please please please provide a sample one and what I should say.
Also, should I just lie about my situation and say I got into some horrible crash or family issue?
Thanks again!
Don’t bother writing a letter. It won’t help. And, frankly, it doesn’t matter to the prior lender or credit bureau why you were late. If you’re late, you’re late.
The good news is that a late payment isn’t as bad as a default. And your credit score isn’t everything. A good job that you’ve been at for quite a while and a better recent payment history are just as important, though Autumn of 2006 wasn’t that long ago.
You may still be able to get a loan for the condo. You may have to shop a bit for a lender. You may have to explain to the lender why the late payments occured, and why they should not occur in future. And because the lender will be taking a somewhat higher risk by financing you, you may well have to put more money down and/or pay a little higher interest rate. Because of your past record, the lending process will hurt a little more and could be much more frustrating, but its not impossible.
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