I just got off the phone with a ChexSystems rep. He told me that I shouldn't be concerned with an item that should have been removed by SCAN, since it is marked as PAID. He said ChexSystems only discloses UNPAID retail items. Is he wrong? I was turned down for UmbrellaBank in May, six months after the item was changed. Umbrella finally told me it was definately the ChexSystems report and NOT Experian. Why would I be denied if that item wasn't revealed? If he is correct, I could open an account at Principal Bank and get $50 free. If he's wrong I'll just get another inquiry...
Was looking over the FAQ at chexhelp.com and found the following info: 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. I paid the bank. Why wasnâ??t the report removed? A reporting member is under no obligation to remove an accurate report of account mishandling due to payment of monies owed. However, if a collection amount is reported, the member is obligated to mark the account as paid.
