Hello everyone!
As you might have already guessed from the topic title, I've gone through financial problems and they've left their marks on my records (and my life, too).
Here's what I need to fix right now:
- Chexsystems:
1. Reported for "overdrafts" by TD Bank ($770) in 2010.
2. Reported for "suspected fraud activity" by BofA in 2008.
I am mostly concerned about my inability to open a real checking account, I have been using GreenDot prepaid cards and recently Bluebird by AMEX as checking accounts since my TDBank account was closed.
- I am certain that BofA's report is completely false, and I would like to dispute that entry but I'm afraid that the entry will be updated to this year (2013). Since the entry was reported in 13/2008 it will be less than a year since that entry completely disappears off the record. What Should I do? Dispute, or wait?
- Since the TDBank overdraft entry was reported in 2010, I do not wish to wait until 2015 to have it automatically removed. I think it would be better to call the bank, and reach an agreement and demand a letter -in writing- promising to remove the entry from chexsystems AND all my credit reports AND guaranteeing to open a checking account once the amount has been paid off. Is this something I can do? If so, should I just pay the full amount or negotiate for a lesser amount?
My current credit score is around 630 and I'm ready to start raising it up so I applied for a CapitalOne secured credit card, deposited $300, was given $401 CL.
My goal is to be able to open a real checking account at a real bank and be able to transfer money from and to paypal and use a a debit card to charge for purchases without having to pay deposit fees for prepaid cards.
Your best bet might be a credit union. I will pm you some info about chexsystems.
Starting Score: 11/29/12 TU 527; EQ 565; EX 564 fako - bk7 dc'd 2/15/13
New goal 675
Yes, there is a TDBank nearby (the same one I opened my bank account with a long time ago).
I will try calling them now and see what happens.. (will update here)
BofA's report is really what's hindering me psychologically..
What I keep thinking is, suspected fraud?? me??? They're using "street" tactics against me! How can a financial institution act that way?!
Thank you!
I just spoke with the local TDBank branch manager. While he sounded completely -flat/nuetral- he asked me to "come into the branch and make the payment and we'll open a bank account for you".
I'm good with that, honestly. But.. is the report on chexsystems and other credit agencies going to disappear? I doubt it.. They'll just remark it (paid in full) and it'll stay on there for another 5-7 years 
(I'm calling their regular customer support number in a bit)
Plus, what if -after I make the payment- they run a chexsystems on me and discover the report of BankofAmerica on there? with "Suspected fraud activity"..?
I've read here and elsewhere on the internet to "have something in writing proving they WILL completely delete the entries off the credit reports".
Mission, incomplete.. yet
BofA's report is really what's hindering me psychologically..
What I keep thinking is, suspected fraud?? me??? They're using "street" tactics against me! How can a financial institution act that way?!
When items are purchased and later amounts are disputed and credited back to the account saying some one else did it,, or some one must have got my card and charged stuff, and they kicked it back and or I lost my card and some one did it and they issued you a new card etc. They will put a possible fraud alert on the account. I know some one who plays this game and it bit him in the butt. when his credit was pulled for a CC they seen it and wouldnt give him credit until he had that resolved.
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That person is not me
The person you know personally who plays that game should be reported to his bank and maybe to the police because that's real fraud.