Negative Tradeline Deletion Request Sample Clauses

Negative Tradeline Deletion Request. Within thirty (30) days after the Effective Date, the L.D.F. Business Development Corporation shall send all consumer reporting agencies (“CRAs”) to which the LDF Tribal Corporations previously had reported information regarding loans of Settlement Class Members originated during the class period (as set forth in Section 3.2 above) and request permanent removal of any negative tradelines for Settlement Class Members previously reported to the CRAs in the name of the LDF Tribal Corporations. The form of the letter to CRAs shall be approved by the Tribal Officials and Plaintiffs. A tradeline shall be considered “negative” if it indicates that any payment due was missed. The form letter to CRAs shall request that all other tradelines reported to the CRAs by the LDF Tribal Corporation for loans of Settlement Class Members be reported as paid in full or discharged, with no negative history. Plaintiffs acknowledge that they understand, on behalf of themselves and the Settlement Class Members, that it may take up to thirty (30) days for this update to be reflected on their credit reports. Plaintiffs acknowledge that they understand, on behalf of themselves and the Settlement Class Members, that the Tribal Officials’ responsibilities, as set forth in this Section 3.4(a)(iv), shall constitute the sole requirements imposed on the Tribal Officials under this Agreement with respect to credit reporting. Plaintiffs acknowledge that they understand, on behalf of themselves and the Settlement Class Members, that the Tribal Officials do not control the actions of the CRAs and, thus, the Tribal Officials may only request that the CRAs make updates as set forth in Section 3.4(a)(iv) and do not guarantee that the CRAs will make such updates.
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