Deleting a Trade Line

[RockyRoad]

I’m settling a debt with a Bank. The lawyers for the bank state the Bank will agree to request with the CRAs to delete my trade line in exchange for me dropping a federal suit I have against the bank.  However they say they are not guaranteeing the CRAs will delete the trade line when requested.  Is this BS?  Under FCRA for a consumer account aren’t the CRAs required to delete the account if the Bank requests so?

[Harry Seaward]

I wouldn't bother with an agreement for the bank to request to delete the tradeline. If you have in writing that they will not verify the debt with the CRAs, that's good enough. Then you can dispute it knowing that when the bank doesn't verify, the CRA will have to delete it. 

[RockyRoad]

3 minutes ago, Harry Seaward said:

I wouldn't bother with an agreement for the bank to request to delete the tradeline. If you have in writing that they will not verify the debt with the CRAs, that's good enough. Then you can dispute it knowing that when the bank doesn't verify, the CRA will have to delete it. 

The agreement also states that I have to pay off in full the debt owed on the Credit Card Account, which is fine if the line will be deleted.  I just don’t want to do that and then have them screw me.

[Harry Seaward]

If you have it in writing, that's the closest you can come to a "guarantee". If they don't hold their end, you sue them for breach of contract. 

[mrb0x]

I'm in similar situation here.

I've asked them to provide a copy of the universal data form they will be sending in to the CRAs. If it is not removed I will dispute it and provide the form and writing I have in the agreement.

[Debtguy393939]

Not BS since they are separate entities they can only request it. Truth is, the cra will delete it, but they just put that protection in there just in case. Almost every single agreement that’s a release at at least will say that, even if it’s just updating the tradeline. As previous poster said just asking for the form they filed with cra they will give that

[RockyRoad]

16 hours ago, Harry Seaward said:

If you have it in writing, that's the closest you can come to a "guarantee". If they don't hold their end, you sue them for breach of contract. 

The agreement states that no cause of action can be brought against the Bank or Firm if the CRAs don't delete.

[RockyRoad]

13 hours ago, Debtguy393939 said:

Not BS since they are separate entities they can only request it. Truth is, the cra will delete it, but they just put that protection in there just in case. Almost every single agreement that’s a release at at least will say that, even if it’s just updating the tradeline. As previous poster said just asking for the form they filed with cra they will give that

And that would be the "Universal Data Form"?

[mrb0x]

9 hours ago, RockyRoad said:

And that would be the "Universal Data Form"?

Yes, in the agreement it should state that they would send the CRA a "udf" or universal data form, unless it is stated differently in your agreement.

This form is more along the lines of proof that they requested it to be deleted. If they didn't request it, then you can sue for breach of contract. 

[Harry Seaward]

11 hours ago, RockyRoad said:

The agreement states that no cause of action can be brought against the Bank or Firm if the CRAs don't delete.

I wouldn't agree to that.  You need some kind of leverage if they renege and "if the CRAs don't delete" is giving them free reign to toss your agreement in the trash. 

I'd tell them you want an agreement that you have a COA if they verify the debt with the CRAs.

Forget about getting them to agree to delete or send a UDF or anything else. That creates work for them. The best agreement both sides can get is one that requires them to do literally nothing. 

[BV80]

15 hours ago, RockyRoad said:

The agreement states that no cause of action can be brought against the Bank or Firm if the CRAs don't delete.

@RockyRoad

@Harry Seaward

RockyRoad, you didn't quote the language in the agreement, but based upon what you've stated, the bank is saying that you can't fault the bank if the CRAs don't delete.

I don't know for a fact that a furnisher can demand that a TL be deleted.   If the agreement says that they will request the TL be deleted, then that's all they have to do.  

As long as the bank makes the request, it's not the bank's fault if the CRAs refuse.  That's all it means. 

The only way the bank could be held liable is if it doesn't make the request.

[RockyRoad]

On 6/19/2018 at 11:56 PM, BV80 said:

@RockyRoad

@Harry Seaward

RockyRoad, you didn't quote the language in the agreement, but based upon what you've stated, the bank is saying that you can't fault the bank if the CRAs don't delete.

I don't know for a fact that a furnisher can demand that a TL be deleted.   If the agreement says that they will request the TL be deleted, then that's all they have to do.  

As long as the bank makes the request, it's not the bank's fault if the CRAs refuse.  That's all it means. 

The only way the bank could be held liable is if it doesn't make the request.

How do I know if they don’t make he request?

[Harry Seaward]

7 hours ago, RockyRoad said:

How do I know if they don’t make he request?

You won't. That's the point. If you dispute it with the CRAs and it doesn't come off, there are only two possibilities - 1.) the data furnisher verified with the CRA, or 2.) the CRA lied and said the DF verified. 

This is why I keep saying to forget getting something that says they will "request" a deletion. It creates an action they must do and you have no way to prove it because their "no liability" clause completely lets them off the hook. If the agreement merely says they won't verify or communicate the debt, that locks up a breach of contract if they do in fact verify. It's much easier to ask someone to not do anything than to do even one thing. 

[fisthardcheese]

On 6/21/2018 at 7:22 PM, Harry Seaward said:

You won't. That's the point. If you dispute it with the CRAs and it doesn't come off, there are only two possibilities - 1.) the data furnisher verified with the CRA, or 2.) the CRA lied and said the DF verified. 

This is why I keep saying to forget getting something that says they will "request" a deletion. It creates an action they must do and you have no way to prove it because their "no liability" clause completely lets them off the hook. If the agreement merely says they won't verify or communicate the debt, that locks up a breach of contract if they do in fact verify. It's much easier to ask someone to not do anything than to do even one thing. 

This is standard settlement language in regards to a TL deletion.  ALL banks I have settled with which included TL removal had this language.  Their language stating that you have no cause of action against the bank if the CRA fails to delete does not mean that you don't have a cause of action against the back if they VERIFY the TL upon a dispute.  That is an entirely different issue and would open themselves up to a cause of action for breaching the settlement agreement.

In addition, if the bank properly performs the removal request and the CRA refuses to delete, then your FCRA cause of action is with the CRA anyway.

On 6/18/2018 at 3:42 PM, RockyRoad said:

The agreement also states that I have to pay off in full the debt owed on the Credit Card Account, which is fine if the line will be deleted.  I just don’t want to do that and then have them screw me.

It's kind of odd that they want to settle a lawsuit you filed against them, but the settlement includes YOU paying them?