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Tradeline Removal on Written Agreement

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Anonymous
Not applicable

Tradeline Removal on Written Agreement

If an agency agrees to remove tradeline once agreement is paid, in writing. Can I send that to the three credit bureaus and they will remove. Or do they have to reach out to the agency still and see if they approve of the removal?

I would think no need to, but would love some info. Thanks all!
1 REPLY 1
RobertEG
Legendary Contributor

Re: Tradeline Removal on Written Agreement

It is CRA policy, as stated in their common credit reporting manual, that furnishers are not to delete their reporting based on payment of the debt.  That policy is intended to preserve the value of credit reports they sell by maintaining the completeness of consumer credit histories.

 

Sending the CRAs an agreement to make such a deletion would be asking that they delete for a reason directly contrary to their own stated policy, and notifying the CRA that a furnisher is acting contrary to their own credit reporting agreement.

 

I would not advise notifying the CRAs of such an agreement, let alone requesting they delete themselves in view of such an agreement.

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