Hello all: I am about 7 days away from my 5 year mark on Chexsystems (BofA reported me on 1/28/97). I have heard they are a bit slow at removing stuff once the mandatory 5 year removal mark comes... What should I do if these bozos do NOT remove the listing on 1/29? I was blindsided by BofA over a messed up rent check and have been with crappy internet banks ever since (for checking). Cal Fed was the only bank to approve me for a savings account as they only verify credit reports when opening savings. I want to bank at Cal Fed for checking but they have told me not to try until it is officially OFF of chexsystems. I WILL NEVER bank with BofA, WashMu and Union Bank (they not only embarrassed me when I asked the branch manager BUT then referred me to some dumb program they run with their fully owned subsidiary NIX CHECK CASHING... What should I do if Chexsystems does NOT remove this on the 29th so I can get my banking freedom back. Thanks in advance.
1. Make sure you have a printed record of the current issue in case they try to age it or something dumb. 2. Dispute it now, most CRA's will remove items before the term expires. If they re-age the account, see #1 and a lawyer. Good luck, i need to work my chex issues, let us know how it turns out.
This is from chex's home page: http://www.chexhelp.com/english/publik/faq.htm Is ChexSystems a credit bureau? ChexSystems is a consumer-reporting agency governed by the Fair Credit Reporting Act (FCRA) and other laws. ChexSystems Collection Agency is a debt collector subject to the Fair Debt Collection Practices Act (FDCPA) and other laws. The Federal Trade Commission enforces the FCRA and FDCPA. How long does the report stay on file? How do I get it deleted? Each report submitted to ChexSystems remains on our files for five years, unless the bank or credit union that filed the report requests its removal or ChexSystems becomes obligated to remove it under applicable law. The decision to delete a report is entirely up to each bank or credit union and its individual policies. How do I dispute information? Our Consumer Relations Department helps people who believe their file contains misinformation. Visit disputes for more information
From the same chexsystems faq page. They are not a CRA like the Big 3. They are used mainly by banks. What is ChexSystems? ChexSystems provides deposit account verification services to its financial institution members to aid them in identifying account applicants who may have a history of account mishandling (for example, people whose accounts were overdrawn and then closed by them or by their bank). ChexSystems is also licensed to do business as ChexSystems Collection Agency providing debt collection services to members participating in this service.
you can order a report from chexsytems. i requested mine online. you can also dispute items from chex. if you search this board there are a number of posts on chexsytems.
You can dispute them. THats what I did and I was able to get both of them off. However, a month later, BoA verifired and they put in back on. But I was still able to open an account, chekcing and savings and with BoA too. I would try to dipute them