The most effective way to deal with your ChexSystems problems is to get your name removed from their list (or at least get some of the negative information removed). Remember, credit reporting companies are not perfect. They make mistakes. Unfortunately, a mistake on your ChexSystems bank report can be devastating to you. If you have an error or inaccurate information on your ChexSystems report, you are entitled to have it removed. Learn how in this article.
In order to dispute information on your ChexSystems record, you’ll need a copy of that record. You can order a copy by calling them at (800)428-9623 and following their automated instructions. Remember that it takes a few days to get it. You’ll want to bookmark this article so you can return once your copy arrives.
Once you receive a copy of your report, spend some time and review it with a fine toothed comb. Any error or inaccuracy should be noted. Then, consider how you can prove that these items aren’t correct. Focus especially on the items in the reported information section, since that’s what banks are being told. Are there reports of debts owed to banks that you know have been paid? Find proof of payment so that you can dispute the entry. Is there information that makes you think you may have been a victim of identity theft? Make sure to let ChexSystems know that it should be removed.
Once you have your proof, it’s time to go on the offensive. Get the incorrect information taken off your report as quickly as possible. A law called the Fair Credit Reporting Act (FCRA) requires ChexSystems and all other Consumer Reporting Agencies to let you dispute any information that’s inaccurate or incomplete. Start your dispute by sending a letter to ChexSystems detailing the errors on your report. By sending this letter, ChexSystems is required under the FCRA to reinvestigate those errors within thirty days. If you send additional information during that thirty day period, they may take forty-five days. If they can’t verify the information you’ve disputed, ChexSystems must remove it from your record.
If you’re stuck in the limbo of being on the ChexSystems bank list, unable to open an account, it’s worthwhile to spend a few minutes looking for errors, and writing a letter to dispute them. The only cost to you is time and a stamp, and if you succeed, your record could be entirely clean. Consider using a letter like example letters on the Website listed below. Be sure to clearly point out all errors. If you use the example letter, be sure to replace all the italicized or bracketed comments. Clarity and politeness are important, as is accuracy. Send the letter either via fax, or by Express Mail, and be sure you keep a copy.
Once you’ve mailed your letter, ChexSystems may contact you for more information. Make sure you remember when you sent your letter, and be sure to put a note on your calendar. If you don’t hear back from them within thirty days, you’ll need to follow up. Check back at this website to find sample letters that you can use for the follow up process. It only takes a few minutes to find out what errors are on your ChexSystems bank report, and the benefits can be huge. Imagine being able to get a bank account again, with a clean record!
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