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The Goodwill Letter to Remove Late Payments is a crucial document used in the Indian financial sector when an account holder seeks to have late payment records removed from their credit history. This document becomes relevant when a generally reliable customer has experienced temporary difficulties leading to late payments but has since restored their account to good standing. The letter typically includes account details, payment history, explanation for the late payments, and a request for removal of negative marks as a goodwill gesture. It operates within the framework of Indian banking regulations and credit reporting guidelines, including the Credit Information Companies (Regulation) Act, 2005, and RBI directives. The letter's effectiveness often depends on the customer's overall relationship with the institution, their current standing, and the credibility of their explanation for the late payments.

1. Sender's Information and Date: Complete contact information of the sender and current date

2. Recipient's Information: Complete details of the bank/creditor including specific department and address

3. Subject Line: Clear indication that this is a goodwill request for late payment removal

4. Account Information: Relevant account numbers and specific late payment dates being discussed

5. Payment History Context: Brief overview of overall positive payment history and length of relationship

6. Explanation of Late Payments: Honest explanation of circumstances that led to late payments

7. Current Status: Confirmation that the account is now current and in good standing

8. Specific Request: Clear statement of what you're asking them to remove from your credit report

9. Expression of Loyalty: Statement about valued relationship with the creditor and future commitment

10. Closing and Signature: Professional closing with contact information for follow-up