Goodwill Letter To Remove Charge Off Template for Philippines

The Goodwill Letter to Remove Charge Off is a crucial document in the Philippine financial services landscape, used when a consumer seeks to have a charge-off removed from their credit report through an appeal to the creditor's goodwill. This document type is particularly relevant when the debt has been settled or when there were extenuating circumstances that led to the charge-off. The letter must comply with Philippine banking regulations, including the Credit Information System Act and BSP guidelines, while presenting a compelling case for the removal of negative credit information. It's typically used after an account has been charged off but the consumer has since demonstrated improved financial responsibility. The document should include specific account details, explanation of circumstances, current financial status, and a clear request for removal, while maintaining professional courtesy and providing relevant supporting information.

1. Sender's Information: Full name, address, and contact details of the person writing the letter

2. Date: Current date of writing the letter

3. Recipient's Information: Name, title, department, company name and address of the creditor

4. Account Reference: Account number and any other relevant identifying information

5. Introduction: Brief introduction identifying yourself and the purpose of the letter

6. Account History: Brief overview of your history with the creditor and the specific charge-off incident

7. Explanation: Clear explanation of the circumstances that led to the charge-off

8. Current Status: Information about current financial situation and steps taken to improve it

9. Request: Clear, specific request for goodwill adjustment to remove the charge-off

10. Closing: Professional closing with appreciation and contact information