No credit card required
Browse credit cards from a variety of issuers to see if there's a better card for you.
A couple years ago my BofA checking account went in the red for a few months and was closed by BofA. They reported me to Chexsystems. Ugh. Soon thereafter, I opened up another checking and savings account with them and I've been very much in the black and use the account often.
I'd like to start a relationship with a local credit union and I'm afraid they'd check and deny me. So, I'd like to get CheckSystems cleared, but how do I proceed??
Please advise.
DId you ever pay BofA for the overdraft of the original checking account ? If so then you should be fine, I think ChexSystems only dings you if you have an unpaid account.
ChexSystems could still show the account as paid. I've seen branches that will deny based on past "dings" even if the account as paid. It's a per-judgment situation where the branch manager might feel that the delinquency was too recent, too much, etc... and decides against opening it.
The good thing about it, is that you can get BoA to remove it. They're supposed to remove it.
Even if they don't remove it, you need to get documentation from BoA that the debt was fully paid and for most institutions, that is good enough since it proves that you no longer have delinquent accounts. That, and I'd explain what happened. Usually sob stories get the best reaction... complaining about the bank and their policies, usually gets very little sympathy...
Follow my financial journey: http://www.frugalrican.com
It was paid in full in 5/10/2010 *and it's showing as PIF on the CheckSystems report.
Are you implying that I can apply for a new checking account with a credit union and they WON'T deny me because of ths report with CheckSystems?
That would be great news!
*Edited to include PIF detail
FrugalRican,
How do I get BofA to remove it? I'm in CT and I'm not sure what route to go: Phone call? Email? Branch visit? Postal mail?
Which will be most effective?
I'd try all of those, in those steps you listed yourself.
Preferrably though, branch visit to the branch you were delinquent at, seems to be the most effective, specially since they can provide you with a notice that you paid the account in question, in full.
Phone call might get whisked away and forgotten by the branch manager. Specially if its BoA.
Follow my financial journey: http://www.frugalrican.com
UPDATE:
I called the recovery services number at BofA and spoke to someone who told me that they can't delete it (apparently they only delete if it's a bank error). HOWEVER, the closure staus date was inaccurate (6 months later than actual) and he obliged in making the correction in reporting. December 2009 is the correct date and it'll fall off December 2014.
One of the reasons I blatantly hate BoA.
Most banks will oblige with removing it from ChexSystems.
I say go to the credit union and explain before hand what happened, and that you paid in full and asked for removal but they won't budge.
The honesty alone will help you.
Follow my financial journey: http://www.frugalrican.com
I was in a similar situation with one of my BoA accounts. I have been a customer of BoA for over 10 years and one of my accounts went into the red and was closed while I was out of the country. When I came back I paid the account and BoA said they could not re-open that account. I went to a credit union here in Atlanta and they refused to open my account because Chexsystems reflected that I still owed Boa Money even though I had paid. It took about Two months trying to get Bank of America to report tha the account was Paid to Check Systems. I tried to get BoA and Chexsystems to remove the entry in total but that was not possible. I took a printout of my report back to the credit union and they open an account for me. I think based on my experience you should be fine as long as the amount owed was paid. Credit unions give people chances that the big banks refuse to offer, and I believe most of them dont mind that one's has a record in chex systems as long as the account is paid and there is no money owed.
I thought chexsyystems removed remarks upon payment or after 5 years. Contact Chexsystems and see if they will remove it