Goodwill Letter for Missed Payment

When it comes to managing debt, missed payments can be a major issue. If you’ve missed a payment or two, you may want to consider writing a goodwill letter to your creditor. A goodwill letter is a written request for the creditor to forgive the missed payments and not report them on your credit report. In this article, we’ll discuss how to write an effective goodwill letter for missed payments and provide some tips on getting the most out of this strategy.

Dear [Name],

I am writing to apologize for the missed payment on my account. I understand that this is a serious breach of our agreement, and I take full responsibility for it.

My financial circumstances have been difficult lately, but I want to assure you that I am taking steps to rectify the situation. I am now in a better position financially, and my intention is to make all payments on time going forward.

I understand the importance of honoring our agreement and promise that this will not happen again. I humbly ask for your forgiveness and understanding as I work to restore our relationship.

Thank you for your time and consideration in this matter.

[Your Name]

Missed payments can be a difficult hurdle to overcome, and a goodwill letter is one way to potentially get back on track. Writing a goodwill letter may not guarantee a successful outcome, but it does provide an opportunity to explain the situation and show that you are taking responsibility for your actions. It also gives creditors the chance to consider your situation and potentially forgive some or all of the missed payment. Ultimately, a goodwill letter is an effective tool for addressing past financial missteps and getting back on track with your finances.