Chexsystems?

[Anonymous]

How long do you stay in chexsystems? I applied for an account with CCCU they declined me because I had some old payday loans in chexsystems they are about 4 yrs old.

[Anonymous]

If I am not mistaken, if you are on Chexsystems you will stay on until the debt is paid off, or 10 years...I think...I am pretty sure it stays on there until it is paid off though. Don't quote me.

[Anonymous]

no, it is 5 years whether the debt is paid or not then it drops off.  however, you can dispute anything on chexsystems just like you do the credit bureus if you find anything inaccurate.

[Anonymous]

This is incorrect. Items will stay in chexsystems whether they are paid or not for no more than 5 years.

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@Anonymous wrote:

If I am not mistaken, if you are on Chexsystems you will stay on until the debt is paid off, or 10 years...I think...I am pretty sure it stays on there until it is paid off though. Don't quote me.

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[Anonymous]

BOFA doesn't use chexsystem. Open new account there and forget this ever happened.

[Anonymous]

The account will stay on chexsystems for 5 years unless the banking institution that reported the entry requests the entry to be removed.

Like the other posters have said, I believe that you can dispute entries in chexsystems like you can dispute entries on your CR.

If the entry is on chexsystems, and you paid the amount, perhaps you can send a GW letter to the banking institution requesting that they remove the entry from chexsystems.   Banking institutions are allowed to request the entry to be removed.

[Anonymous]

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montana wrote:

BOFA doesn't use chexsystem. Open new account there and forget this ever happened.

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Bank of America reports to Chex Systems, so I imagine they pull reports from there also.

[Anonymous]

BOFA DOES NOT USE CHEXSYSTEM!!!

Sure they will report if you are runnung a mock of your account at BOFA, but they don't use it to open your account or grant you a loan or give you a credit card!

Good luck

Message Edited by montana on 09-11-2007 01:55 PM

[Anonymous]

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@Anonymous wrote:
This is incorrect. Items will stay in chexsystems whether they are paid or not for no more than 5 years.

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@Anonymous wrote:

If I am not mistaken, if you are on Chexsystems you will stay on until the debt is paid off, or 10 years...I think...I am pretty sure it stays on there until it is paid off though. Don't quote me.

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My bad, I was wrong! That's sad...I work at a bank--I should know that, haha.

[2b2rich]

BoA might not check chexsystems, but that doesn't mean they are easy to get a checking account.  They pulled my Experian when I applied for a checking account.  I'm not sure what they were looking for (score, payday advances, bad checks, etc), but I did get approved with a score of only about 596 back then.

Good luck!