Pay for Delete or NDA AFTER CRA has "investigated"

Discussion in 'Credit Talk' started by cybertek, Aug 4, 2010.

  1. cybertek

    cybertek New Member

    Hi all, new to this site and had a question for the gurus..

    So I pulled my report the other day individually from all 3 CRAs. 1 of them shows I have EXCELLENT credit (790s). The other 2 (which has a pretty good score - low 710s ) shows that I have a bill that went into collection for a small amount (under $100 bucks). Normally I wouldn't care if it effected my credit or not but I'm on the verge of getting my first home loan and I'm right on the cusp of receiving the lowest rate by >5 points. And according to the loan guy they take the MIDDLE score (not the average) to determine my loan rate.

    I tried to dispute the amount from the 2 CRA online 3 days ago. I received a response in 1 day from one of them saying that they have "investigated" the matter and the CA report will remain.. the other CRA hasn't reported back yet. I'm guessing they don't usually take the full 30 days to investigate.

    My question is.. If I tried to remove the mark with the CA with a NDA or PFD letter. Do they actually ask the 2 CRAs to remove it? And it magically disappears the next time I pull my CR/score?

    or Do I have to go back to the CRAs and have them investigate it AGAIN? and WILL I BE ABLE to get them to investigate the matter again?

    Also does anyone have an example of a NDA. The ones I've looked for are very generic & loaded with legal verbage and wouldn't really apply to my situation.

    Thanks in advance.
  2. JoshuaHeckathorn

    JoshuaHeckathorn Administrator

    Welcome to the forum!

    Using templates for your non-disclosure is generally a bad idea. Debt collectors sniff them out and don't take them seriously.

    Just keep the language simple, in your own words, and I think you'll have more success. All you have to do is simply ask that they hold the account and the terms of your agreement in confidence (non-disclosure). They won't actually ask the CRAs to remove the negative mark for you.

    What you'll need to do is dispute the account after you pay it, and they won't be able to respond (per their non-disclosure), so the CRA will have to delete it. Good luck with that home loan!
  3. cybertek

    cybertek New Member

    Thanks for your reply!

    okay.. well I followed a PFD template in my own words and sent it out to the CA. We'll see how it goes..

    How does a request for non disclosure go? Is it a written agreement or is it a gentlemen's verbal agreement.

    Assume we go the non disclosure route. How soon can I re-request an investigation from Experian?
  4. bertha57

    bertha57 Member

    I'm a newbie. What does it mean to get an NDA (non-disclosure agreement?) after the CRA has investigated? I just don't understand the circumstances that would lead anyone holding or reporting your debt to sign an NDA especially after its been investigated already -- but it does sound very interesting. Thanks much for an explanation!
  5. ccbob

    ccbob Well-Known Member

    An NDA is an agreement that means neither of you will disclose information about the account to 3rd parties (to include CRA).

    How it works (in theory):

    1) you say you'll pay if they agree to an NDA.
    2) they agree
    3) you pay
    4) you dispute the account with the CRA
    5) the CRA sends the CA an e-mail asking them to verify the account
    6) the CA does not reply (they don't have to) because of the NDA (so they couldn't even if they wanted to)
    7) the CRA doesn't hear from the CA so after 30 days (or 45 in some cases) they delete the account because it was unverified by the CA.

    They get their money.
    You get it off your credit report.

    Everyone goes home happy.
  6. cybertek

    cybertek New Member


    I wrote the PFD letter to the CA earlier in the month based loosely on some of the templates I found online. They called me back saying they wouldn't agree to sign that. I politely explained to the supervisor my situation and she basically told me to write the letter out in my own words and skip the legal mumble jumble.

    So I did what was asked.. faxed them the letter. Followed up with a call 2 days later and they agreed to do delete it. I paid them. They gave me some confirmation number and told me to wait a few day for them to process the deletion.

    Here are the results of my credit pull - 1 month later:

    I went from 717 to 779 at one credit bureau! A 62 pt jump!
    I went from having a 710 to 797! 87 pts!!!!

    Amazing how one $60 unpaid phone bill would drag my score down so much.. It could've cost me thousands on a home loan to be in the low 700s.
  7. cg21

    cg21 Well-Known Member

    I got the same response wit the pay for delete letter, sayin they can't do it. You think I should write my own NDA letter? U think they'll accept that?
  8. cybertek

    cybertek New Member


    First I hope your grammar in real life isn't reflected in your last post :)

    Second, I couldn't predict what the CA will do. I can only speak of my one and only experience. Be respectful and polite even when they tell you no. I was bounced 3 times before I got someone that I could deal with one on one. I asked for her by name. I built a good report with her. What's the worst case scenario? If they say no? Well.. then you don't pay. Good luck.. it's worth the phone calls. It's worth your financial future.
  9. JoshuaHeckathorn

    JoshuaHeckathorn Administrator

    Congrats cybertek...that's awesome!
  10. cg21

    cg21 Well-Known Member

    So how should I write the letter? I (MY NAME) agree to pay in full if you (collectors name) and National credit systems agree not to disclose any information to anyone, such as credit bureaus when filing disputes... something like that? Would that be short and sweet enough to get it deleted
  11. jd937

    jd937 Well-Known Member

    Personally, I would keep it simple, and to the point. Always send it CMRR. Also, as a point of order, it's preferable for you to start your own thread for your own question as opposed to hijacking someone else's thread. You'll get a better response that way and avoid confusion.
  12. Tai

    Tai Member

    Is there a possibility that it may reappear in the future? And if it does what can you do to remove it?

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