Helping Fix Your Credit Score

Having a single late payment can be detrimental to your credit score, especially if you stop paying your loans for any amount of time. So, today we’re going to look to look at a simple way to take care of one of the most damaging marks against any credit score.
A "goodwill letter" is a simple way to repair your credit report at no significant cost and it can be used all types of loans including federal loans. The idea of a goodwill letter is to restore your credit by having a lender erase lateness on your credit report.
Those that have experienced financial hardship due to unexpected life events and circumstances have the best luck with goodwill letters. This allows you to take responsibility for your actions and to (*clears throat) ask if your loan servicer can empathize (lulz… I just suggested that bankers have empathy) with the situation that caused the mishap in your finances to begin with. Now, we know this isn’t necessarily true and lenders don’t really give a flying fuck about you; they just care that they can loan you more money. Most of them do recognize that the period of time that a late payment stays on a report (seven years) is excessive and unless it is a regular problem, they don’t want that mark hindering their ability to conscript you into their servitude.
This is also great when you think the late payment is an error. Those things do happen rather frequently. So let us go over some ideas to make your letter more successful.
An appreciative tone
Even if you’re faking it and mad as a wet hen, be courteous. You pull in more flies with honey than you do vinegar.
Take responsibility
Yeah, that’s right. Feign responsibility. If you say you “just forgot” or “oops” they aren’t going to take you serious. Explain the circumstances, but understand that ultimately it is your fault.
A good recent payment history
If you have a pattern of late payments… you’re fucked mate. Seriously, who is going to trust you?
Proof of any errors and relevant documents
Assertions without evidence can be dismissed without evidence. Need I say more?
Simple and to the point
Keep it short. Nobody gives a flying fuck about your life story. Stick to the point and avoid excessive details unless asked.

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Cheers,

Sean