Henry is a white collar criminal who got sent to jail for embezzlement at a bank. His life is ruined. I, as a demon, make a pact with Henry to take on that aspect of his life. Now I am a known embezzler, and Henry's record is clean and he can get a new job and a new life.
How far do the changes go? Certainly Henry's family and friends will be affected by the change. But will the prison records show that I was in prison? Will the court records show that I was convicted? What about the FBI records?
The reason I ask is that the pact is not worth much to the mortal if a casual check by an employer would break it. It also makes sense to me that electronic records are more amenable to such changes, while memories might not be. That is, while nearby people might have their memories changed, people far away might still remember Henry as the embezzler and be surprised when they look up the records.