Okay, I am new to this board. Chexsystems sucks, but this is my problem. I had no clue that they even existed, till I went with my girlfriend to get a joint account. I had an account with TCF, that was "NSF", not true, but i did leave the account unatended since end of 1998. I didn't like that bank, so I withdrew all my funds then went to another bank. I closed that bank account last month, cause i was going to open this new account. When i got "Denied" they told me to call them and talk to them. So i did the whole ordering of the report. I am still waiting on it as of right now. I did call TCF and i found out i was in collections. called their CA and payed the amount ($168.72). First - Was it bad to pay the ammount in collections? Second - is there a way to get that mark off (would that be with the standard Valadaion letters, so on and so forth) and Third - is paying that amount "Valadation"? Need some help here Thanks!!!!!!
I'm a banker with Wells Fargo, so hopefully I can help you. Paying your collection with your bank was a good thing. They should update your record with Chexsystems to say "paid as agreed" or something like that. However, because you came back 4 years later, that bank may choose to not remove your record with Chex. Your record stays with them for 5 years, so you've only got 1 more year to go. Until your record becomes clean after a year, you might be able to find a smaller bank to open a new account that doesn't use Chexsystems - so at least you'll have some type of account. David Kinder
how long does wells fargo keep the black list going? I was on chex w/ wells but eventually got off chex completely.. am i on wfb forever under blacklist?
ChexSystems is a CRA and have to follow the FCRA for reporting. ChexSystems is also a CA and have to follow the FDCPA for collecting. You can request a copy of your report from ChexSystems. Actually, as you were denied an account you are entitled to a free report from them. You can dispute the items on your report for the same reasons you can dispute items on your consumer reports from the big 3. You didn't have to pay that collection just because they said so. Paying won't get you off their list, but at least make sure it's marked as paid. If it wasn't NSF, why did you pay it? Is the CA sending you your check back? Be sure that you get it! I Some banks will still open accounts even if you have a report as long as it is showing as paid. Chex will continue to report you for 5 years, whether you paid or not. Though what is misleading in the above post is that NOTHING requires anyone to report -- it is a choice that is made by the company. If they CHOOSE to enter something on your report, they can CHOOSE to take something off your report or not respond to a dispute. You could have requested validation -- you still can request validation though I'm not sure they have to provide it now as it is paid. Nonetheless, paid or unpaid, if reported, it still has to be accurate, up-to-date, complete and verifiable under the FCRA. ChexSystem and Telecheck both try to get around giving you your mini-miranda and dispute rights by telling you to call them. You don't have to call them, that's just what they'd like for you to do. They have to play by the same rules as all the other CRA's and CA's -- they just count on us not knowing it! Do a search here on ChexSystems, there are lots of really good previous posts. Please don't settle for being listed with them for 5 years, no matter what they aren't willing to tell you. They already got you to pay a NSF that wasn't, because you were trying to open an account. The time for letting someone know about a collection account is BEFORE it shows up on a report and you are denied an account, says me, so they already aren't playing fair with you. They count on us being denied and paying it in order to get the account, but don't tell you that even if you pay, you still won't get the account as long as you are reported. Here is a link, with letters for tweaking to make your own and links to non-chex banks. You don't have to sign up, just scroll down the page to get the information you are looking for: http://members.tripod.com/~EBAUM/chexsystems.html Sassy The following was previously posted by backspace and details the reporting policies of individual banks which are now mandates via agreement with a consumer advocacy group: Hey about a year ago i was in your shoes, a friend pointed me to a group called greenlining.org and they fought for chexsystem victims. This was email i got from them and bascially it depends on your time in chexsystem. How old is the info? I took this info and went to a few banks they still was hardnosed til i made them aware of the new mandates. I even took a copy of the article that appeared in the Wallstreet Journal. They immediately opened an account (BOFA)...let me know if you need the article Dear XXX, Greenlining has hosted two Chexsystems follow-up meeting since September 28th. I have listed the changes in chexsystems policy by bank as a result of our efforts. If you have any questions, don't hesitate to contact me. Bank of America Oct. 2000: overrode 600 ChexSystems accounts throughout CA Nov. 2000: overrode 1200 ChexSystems accounts throughout CA Now looking at non-customers as potential customers Notifying employees: 10/3 = Emailed banking centers on new policy Maximum time in ChexSystems: 3 years One year if debt is repaid Result: tripling of approval rate Efunds will offer courses in the east, central, and west by January 1st Citibank Notifying employees: All managers can override ChexSystems if necessary Maximum time in ChexSystems: 2 years w/review after one year No penalty for extenuating circumstances such as loss of job or illness Threshold: Was $150, Is now $200 Notice: 30 days, via phone Notice via written correspondence: 60 days Clients can have a review whenever they want at their own request U.S. Bank Maximum time in ChexSystems: Three years One year if debt is repaid Threshold: $100 Notice: overdraft, continuous overdraft (5 days), continuous overdraft (10 days), closed account (30 days), ChexSystems (3 weeks after closed account) Washington Mutual Notifying employees: 12/9 =Announced policies to whole company (8 states) Maximum time in ChexSystems: 3 years One year if debt is repaid and letter from bank Threshold: $200 Sanwa Bank Threshold: $100 (implemented three weeks ago) Business checking and retail checking rely on ChexSystems Using another Efunds system for Retail Checking Bank of the West Maximum time in ChexSystems: 3 years One year if debt is repaid CalFed Threshold: Was $25, is now $100 Removed if paid in 90 days (was 30 days) Clarifying language of overdraft notice Still considering changes in maximum time in ChexSystems City National Notifying employees: end of November = announced to all line people and managers of policy changes Trying to include policy in training procedures and on-line manuals Maximum time in ChexSystems: 3 years One year if repaid debt Threshold: $200 Not a lot of walk-ins, but 79 overrides since September 2000 Union Bank Maximum time in ChexSystems: Piloted 3 year criteria in the past month; attracted 100 customers One year if repaid debt Notice: More disclosure Waiting for Efunds educational courses; looking for community-based groups to educate people in the west Cash N Save units deliver customized products for those in ChexSystems 8,000 customers over the past five years Wells Fargo Will follow the Bank of America model or go beyond it In terms of ways you can become banked, I would advise you to talk with a representative from one the banks named above, and see if your present circumstances fit that bank's new policy. And if you have difficulty opening an account, ask them what you would need to do to open an account with their bank. Greenlining has decided that we will have an annual meeting with banks to determine if they are adhering to their new chexsystems policies. So, we anticipate a meeting this summer.
Thanks for the reply everyone, I just got my Chexsystems report in the mail about 2 days ago, and it says: date reported: 06/25/1999 reported for: NON-SUFFICENT FUNDS (NSF) ACTIVITY now i need to get them to valadate that, since i only wrote 3 checks out on that account before i left that bank, i think they were just pissed at me...LOL Anyway, Thanks again for the advice!
