The Better Credit Blog | Answering Your Credit Questions & Free Negotiation Dispute Letters

How long for a goodwill response?

Reader’s Question

I sent 3 of my creditors goodwill letters about 2 months ago. How long does it take for a response? And if nothing happens, what should be my next step?
Thanks 
Please help.

Response

Hi there,
Are these accounts paid in full? If not, offer them a settlement in exchange for complete removal from your credit report. Get everything in writing. If they are late payments, read my post on how to get a late payment removed. I would give it another two weeks as well.

-Ryan

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Do I still have to pay if the account is not on my credit report?

Reader’s Question

Dear Ryan -
I wanted to know. I have a big account on my credit report of about 17,000 dollars. It’s from a car I used to have. Is there anything that I can do about that to try to remove it. I can’t afford to pay that amount and the collection agency keeps bothering me. Please help. Also, if any account is not on your credit report do you still have to pay off any outstanding balances?

Response

Dear [name removed],
A debt with such a high balance would be near impossible to get removed. Even if you do get it removed, the company will probably still sue you before the statue of limitation is up in your state. Just because an account is not listed on your credit report does not mean you don’t still owe the debt.

Hope this helps,
Ryan

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Removing late payments from credit report

Reader’s Question

Dear Ryan,
I have 2 paid off installment accounts that have past due in late 2007. should i try to remove those 2 and how do i go about it? or should i leave them on the report.
Thanks for your time and help

Response

Hi [name removed]
Assuming these accounts have an overall good payment history, I would try to remove the late payments on both accounts by sending the original creditor a “goodwill” letter kindly asking them to remove the late payments. Goodwill letters are highly specific to your individual situation, but I suggest taking a look at my sample goodwill letter.

Also, read this article I wrote a few months back on the same subject.

Best,
Ryan

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