Goodwill Letter - What do you think?

Discussion in 'Credit Talk' started by Bouncn'Bak, Dec 22, 2010.

  1. Bouncn'Bak

    Bouncn'Bak New Member

    I am sending the following goodwill letter to the holder of my student loan account. There were two periods where I became seriously deliquent (90+ days) due to job loss. Severeal months after the job loss, I learned about the forbearance agreement for hardships, well I took advantage of this...not before the damage was done to my credit report. I am now making my scheduled monthly payments and am asking for my first and only goodwill adjustment. What do you think of this letter I am sending:

    Dear Mr. CEO,

    I am writing to you today regarding my student loan account #XXXX, which I had while I was an undergraduate student at _________. The purpose of my correspondence is to see if you would be willing to make a "goodwill" adjustment on the reporting of this account to the three credit agencies (Experian, Equifax, and TransUnion). This is my first and last request for an adjustment of this nature.

    I have been a customer of EdFinancial since 1999 and have been very happy with the service on this account. However, I was not the ideal customer and made mistakes with the handling of my account. Due to two job losses over the past two years (in 2008 the company liquidated my division and in 2009 the company filed bankruptcy) and significant decrease in household income, I was unable to keep up with my monthly payments during two separate periods. Until I researched my options, I was unaware of the hardship forbearance agreement. As soon as I became aware of this option, I contacted EDFinancial and entered into this agreement to minimize the affect any future late payments would to do my credit profile.

    Unfortunately, the forbearances are not reflected on my credit profile and the negative marks are reflecting. I know that payment was my responsibility and I am not attempting to justify this breach of my user agreement, I was however hoping you might review the circumstances under which these non-payments occurred and consider removing the negative marks associated with this account from my three credit reports.
    I am extremely delighted and thankful that I have been able to bounce back and return to making timely payments on all my debts. As you can see from my recent history, I am now making my regular monthly payments as I did prior to my two job losses. The reflection of my profile during these periods is not a good indicator of my actual credit worthiness and willingness to repay debt obligations. I hope that EdFinancial is willing to work with me on erasing these marks from my credit reports.

    I would like to STRESS that the information currently being reported IS accurate, (I am not disputing anything with regards to the reporting). I am simply asking EdFinancial for a courtesy gesture of goodwill in having the credit bureaus remove these negative remarks from my report. I do recognize that this request is unique and that it may not be EdFinancialâ??s normal policy. I would be grateful if you were to delete the negative marks on this account from all three major credit bureaus (Experian, Equifax, TransUnion). I hope that you will deeply consider my request and prove once again, why EdFinancial is heads above the rest.

    I look forward to your reply.

    Best Regards,
  2. JoshuaHeckathorn

    JoshuaHeckathorn Administrator

    Nice letter, but it's too long IMO. You need to really make these types of letter short and to the point in hopes that you'll actually get someone to read it, understand it, and make a quick decision regarding your account.

    I would try to keep it to no more than 2 paragraphs and cut out the stuff about how you want to stress the it's being reported correctly and how happy you are that you're making timely payments now. Explain the situation briefly, give them some bullet points to clearly show what you're requesting of them, and I think you may get a better result.

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