I had an old collection on my credit record that was really dinging my score. This was really bothering me because I felt that my score of 696 didn't reflect my true credit worthiness. Other than that collection, my credit was just fine (no balances, pay on time, have had credit cards for several years, etc.). I wrote a goodwill letter about two months ago and nothing happened to my score. I sent the same letter again about a week ago and today I got a score alert that my score went up to 794! I pulled my Equifax credit report and sure enough, the collection was gone. It just goes to show that good will letters can work with a little persistence and patience. Thanks myFico and the forums for all the great information!
For those who want to see what I wrote, here's the letter (names, amounts, and dates are changed):
4/24/2010
Regarding: Account No. XXXXXXXXX
BONNEVILLE BILLING
[Their address]
To Whom It May Concern:
I am writing to you concerning a collection enacted against me on 1/2004. The collection was for an outstanding payment to the Park Apartment Complex where I resided in 2002-2003. After moving out of that area I moved around a lot and did not have a permanent address. For whatever reason, I did not receive a bill they mailed me for $106. It was only once I discovered this collection on a credit report did I realize that I owed a balance which I promptly paid in full on 10/20/2006.
I am writing asking you to delete this negative information from my credit history. I have a stable income from a full time job and would have easily paid my balance if I had known about it. I have never been late paying any bill, credit card, or loan and, other than this collection, my credit history is excellent. Honestly, I feel a little silly having a negative mark on my credit report for such a relatively small amount of money.
I am shopping for a home mortgage and negative reports such as this may preclude me from receiving a good interest rate or even qualifying for a loan at all. Since this past collection does not reflect my current ability to pay my balances on time I am asking you to please ask the credit agencies to delete it from my record. Since this collection record will be removed from my history in a few years anyway, I am kindly asking you to erase it just a little earlier. I know that you are under no such obligation to do so, but I am begging you to show some goodwill and help assist me and my family in our search for a good home. Please let me know if any additional documentation would assist in reaching a positive outcome, and I thank you again for the time you have spent reading this letter.
Sincerely,
John Smith
5555 Somewhere St.
Some City, SS, 55555
my phone #
my email
Starting Score: TU 675 EX 643
