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Should I Request a Goodwill Adjustment
I missed a payment on one of my credit cards about a year ago and it's appearing on my credit report. I've made a concerted effort to pay off my debt and even requested a credit increase in February. I was awarded the increase by my credit card company and then, to my surprise, was given another increase a month later. Is it worthwhile to request a goodwill adjustment to have the cc company remove the late payment? I've read mixed things about making these requests.

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It never hurts to try, so go for it. Good Luck and keep trying if you are told no. Sometimes a different representative responding to your request makes all the difference in the world.

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They work - sometimes

I sent a goodwill letter to my credit union and they forgave my late payments. I had a few late payments over the past couple years but overall have had a good history with them. I asked only that they excuse the late payments (4 of them) over the past year and let them know why I was late. With credit unions, you can often access board member information via quartely statements so I found the CFO and sent the good will letter to him. I received a response within 2 weeks advising they would be forgiving all late payments over the past year on both of my accounts with them. Granted this is a small local credit union, but I think what really helped me was I had called them about a year back to advise they may have to repo my vehicle because it looked like I was going to be running into some hard times. I did this before I was ever late on a payment. Granted I was able to keep the vehicle, all be it through some late payments, but I think this helped to show I was fairly responsible versus just looking for a fix for my screw up. I also sent a letter to Wells Fargo and got a pretty quick 'thank but no thanks' type of deal. I may try to send another letter out to them but after doing a bit of research it seems that the smaller the lending institution, the more likely it is that goodwill latters work. It never hurts to try, just make sure you let them know why you were later, why you won't be late going forward, and really what you learned from the experience. Sounds cheesy but a good lending institution wants to know it has financially intelligent people as their customer and is much more willing to go the extra mile for them over someone who just screws up sometimes and doesn't get why.

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