What Is a Goodwill Letter And Should I Write One?

What Is a Goodwill Letter And Should I Write One?

Late payments can stay on your credit reports for seven years, hurting your credit health and making it harder to get approved for financing. Of the five factors that determine FICO credit scores, none play a bigger role than payment history, which accounts for 35% of your score. Regardless of why you were late, a single late payment can cause your credit score to drop significantly.