Daniel Rosen explains how to ask creditors to remove late payments from open accounts you're now paying on time. Write a goodwill letter to the creditor, escalate to executives if needed, and emphasize your strong payment history before the late mark.
Life happens. And sometimes it happens in a way that haunts you or your clients for years. Let's say your client has a perfect and long term payment history with a creditor when suddenly, boom. Something happens that causes that perfect payment history to go late. Maybe the mail was lost through no fault of their own. Maybe they got laid off or had an emergency or a medical situation happen. Or even Covid caused a payment to have to be pushed past the due date. Or really, maybe just life got chaotic and they forgot. So in this episode, I'm going to walk you through my secret hack to delete late payments. So stick around.
My name is Daniel Rosen and welcome to Credit Repair Business Secrets.
Okay, let's get into this. It's time for my secret hack to delete late payments. See, lenders really don't like late payments and they consider them to be a big fat red flag. They indicate that it's likely that this person won't pay them on time. In fact, most credit card companies periodically pool their credit holders credit every so often as a soft inquiry to see if they relate with their other accounts or to see if there are signs of financial difficulties with other creditors. If they find any issues, they may lower the available credit line or they may even increase their interest rate, even if your client has never been late with them on any payment. So it's really important to educate your clients to never be late with anyone if possible. Now, we all know life happens, right? It's happened to all of us. And just because your payment was marked as late, that doesn't always mean that you have to live with it. There are options. You may be able to get the late payment or payments removed with a little bit of creativity and and empathy. This process is called a goodwill intervention. So what exactly is a goodwill intervention? It's a request and not a demand. You are essentially asking or really begging the creditor to remove one or more late payments with a really good excuse. And you're also promising to make payments on time in the future. Now you may be asking yourself, does this work on closed accounts? Unfortunately, no goodwill interventions. They only work on open accounts. If the account is closed, you may simply want to work towards removing the entire account, not just the late payments. Because a goodwill intervention is based on previous stellar payment history. Also note that this strategy only works if the account is current, meaning there is no past due amount. Basically, if you were the creditor and your customer asks you to remove late payments on an account that is past due, you're not even going to consider it until it's current. So here's what you need to know to use this simple strategy to get results for your client. If your client has an open and current account that always had a great payment history and then suddenly had one or a handful of late payments, this is how you go for a deletion. You either use our letter finder feature or visit the letter library within your credit repair cloud and search for goodwill. And when you do that, you're going to find several variations of this letter. Just use the one that suits your situation the best. Now if you don't have a credit repair cloud account, you can sign up for 30 days free@creditrepaircloud.com Next, make sure you have a really good excuse a goodwill deletion letter. It works by sending it to the creditor asking them very nicely to please remove a late payment. Again, try to have a great story, a tearjerker, something that moves them. Maybe your child was born that month or maybe you were hospitalized or maybe your family was affected by Covid or something really, really difficult came up that made you suddenly un pay. Remember, you are asking for a favor, so be very, very nice. And if the main customer service address doesn't respond, then try sending it to various departments or individual people within that company. If these late payments are really hurting your client and you are really serious about doing everything you can to remove them and then go the extra mile, Google the company or use LinkedIn to find the CEO, the VP, managers, directors, or anyone you find with contact information and send them each a separate letter. Send it directly to them and in the end, with effort, creativity and strategically applied pressure, you are going to be amazed to see that more often than not you get the results your clients need and they are going to love you for it. Now this secret hack is just one of the many strategies that you will learn when you get certified in Disputing in the Credit Hero Challenge. It doesn't matter if you are just starting out in the business or repairing your own credit. This is a live experience that has helped tons of credit heroes to get their first paying clients to learn everything they need to dispute like a pro, to gain confidence and to launch their very own credit repair business from the comfort of their own home. We've got a new challenge starting very, very soon. So to get in, sign up@creditherochallenge.com today and if you find value in this podcast, please share it, subscribe, leave a review, or feel free to comment and ask questions. I come back and I Answer all of them, and I will see you in the next episode. And until then, be a credit hero and keep changing lives. Hey, everybody, it's Daniel again, and really quick.
I'd like to invite you to join what I believe is the best thing we have ever created inside the credit repair cloud community. And it is a challenge that we call the Credit Hero Challenge. If you're just planning out your business or you're just getting it started and you dream of having a successful business of your own, so you can quit your 9 to 5 and fire your boss and have financial freedom, or so you can add another revenue stream to your existing business, if that's your dream, you need to get into this challenge. We created this challenge to help you to create and launch your very own credit repair business to build a proper foundation for a really successful business. This challenge is going to help you to understand the strategy, the tactics, and all the things you need to be successful at Credit Repair. It really is the greatest thing we have ever built and it will change your life. So I recommend you do it right now. Stop everything. Pause this audio, go online and go to creditherochallenge.com that's creditherochallenge.com and join the next challenge. And there's a challenge that's starting in just a few days. So go get started right now@creditherochallenge.com. Sam.
