Chex Dispute Letter

[oneilldn]

Hello All,

I'm having a problem here. I been trying to dispute an account with Chex Systems, I completed their online dispute form. I just got a letter from them stating that the account was verified. Is there any letter I can send them next? By the way, this account in chex shows paid, but they still wont removed. Does anyone have a really good letter I can send them to make them reinvestigate?

Please help.
-N

[Trish]

Hmm....from what I understand, with Chexsystems, it stays on your report for 5 years unless the company reporting it requests it to be removed.

I would try contacting the bank that reported it. You could even try calling them.......but if they do agree to remove it, see if you can get the agreement in writing so that you can send that to Chexsystem.........just in case it doesn't get deleted.

[oneilldn]

Hello, Yes I'm aware of that, but I think Chane posted somewhere here that you could dispute things in Chex as you do with CRAs. Am I correct? And if you do, any letter I could use as a second letter to ivestigate?

Thanks Trish.

[chane]

Chex Systems is a CRA. They report consumer information and therefore are bound by the FCRA. You can get one free report from them every year just like with the big 3. You can also dispute accounts with them and they must verify it with the information provider.

I have never heard of anyone having much luck getting items removed from ChexSystems. I have actually tried myself and they weren't having it.

I think it's because the information they report is not as erroneous and reckless as the big 3's info. They know that they can almost always back up what they are reporting. But, I think it's worth a shot.

However, most people usually just end up finding a bank that doesn't use ChexSystems (there are very few of them.), paying off the account or waiting 5 years.

I don't hate ChexSystems as bad as I do the big 3 because I believe they provide a much more valuable service. Bad check writing is a big problem and completely different from most of the trash that is being reported on our credit reports. A lot of banks will allow you to open a checking account immediately after squaring up with the previous bank, but I dealt with one place that didn't...their loss - I will never try do business with them again.

Another difference is that you can still get a home, car, job, etc even if you are on ChexSystems (in most cases) and you won't end up paying $100k more in interest over a 30 year mortgage because of them. So, they don't end up ruining people's lives as bad as the big 3. In my opinion, they are just not as sleazy as the big 3.

I have heard some nightmare stories about them though and they are definitely a FOR profit business, so don't think for a minute that I am trying to pretend that they are saints.