Chexksystems when does Negative item fall off? Last payment or Charge-off date.

[harveyc7890]

Had an account I thought I had closed in January 2019. But before 30 days were up a charge came through for $5 that ended up overdrawing the account and Santander ended up charging overdraft all the way until November 2019 when they decided to charge it off. The negative balance is almost $1200 so I don't want to pay it off and on principal just them keeping the account open so they can collect these fees sounds like a shady practice. Since we are 5 years plus from the last payment and it is still being reported on my account I wonder if its worth disputing it or just wait it out until November?

[CreditPoor]

ChexSystems typically retains negative information on your banking history for up to five years. This includes information about bounced checks, overdrafts, and instances of account misuse. After five years, the negative information should automatically be removed from your ChexSystems report.

[JoeRockhead]

I'm sure you're aware that although it's due to come off ChexSystems at the 5 year mark later this year, the debt doesn't go away. Be aware of the possibility of a collection still being initiated and placed on your CRs as well as what the SOL is where you are. A judgement could be a whole lot more of a headache, not to mention more costly.

[harveyc7890]

I have actually debated suing them myself for unjust enrichment and a myriad of others so if they sue me I wholeheartedly welcome it. No judge in their right mind would let them collect $1200 in fees on a $1 negative balance. 

[harveyc7890]

Yeah I am aware of 5 years but it doesnt specify when the 5 years begin. From the last payment or from the charge off. Because in credit card last payment is considered last activity on the account not the day it was charged off.