People may encounter circumstances when they are unable to make their debt payments. If your loan is market delinquent, know that a charge-off is around the corner, and it can have long-lasting consequences for a credit score. To avoid that write a goodwill letter to remove charge off.
{Date}
{Your name/address}
Respected {insert name of collector},
I’m contacting you due to a debt that was reported under my account number {account number}. I would like to completely clear this debt without hindrance in exchange for you not reporting it as a “charge-off” to any credit reporting agencies.
I am willing to pay the loan in full in exchange for your removal agreement. I offer this money in exchange for your assurance that all references to this account and the debt in question will be fully removed from all credit reporting organizations’ databases.
Please recognize and accept the terms outlined in this document in a letter that is printed on the letterhead of your business if they are acceptable. I will pay the loan using [insert method of payment] after I obtain notification of your agreement.
I eagerly await your response.
Sincerely,
{Your name}
{telephone number}
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