Monday, December 14, 2015

Welcome to ChexSystemsVictims




Over the years I have helped with removal from Chexsystems, Telecheck, and EWS. I am no longer able to do this because my time will not allow. I do recommend that you go to Credit Boards under the Chexsystems Help area and post any question there for Chexsystems Removal. There are several people there that will be along to help. I do not recommend paying companies for removal. There is no guarantee for removal. It is your right to dispute any report, even those that are accurate. I do however continue to research for non-chexsystems banks and keep my lists as current as possible. I do NOT suggest that you pay any company online for help with finding a bank. The same information that they will provide you can be found here for FREE. Many times the information they will provide you is not as accurate or as good. 

Very important facts to remember: 

1. Applying for lots of accounts that deny you can cause a fraud alert too your account and then you might be denied an account that you would have been approved for otherwise. be sure to do your research before applying for an account to make sure you are applying for the one that is best for you in your individual circumstances. 
2.If you apply for a Credit Union listed on my lists, be certain that you meed the membership eligibility requirements first. All Credit Unions require that you become a member before you can apply for a checking. 

Opening an account with a ChexSystems report

When you apply to open a checking or savings account,most financial institutions will run your name in the ChexSystems database to see if you have a report. Some financial institutions may deny everyone who has a ChexSystems report, while others may only deny people with certain types of activity. ChexSystems itself does not approve or deny applications - it merely provides reports to financial institutions.

If you are denied an account due to having a ChexSystems report, that does not necessarily mean that there are no options available to you.  

As far as finding a bank that does not use Chexsystems, the options vary from state to state. While some states have many that do not, other states have only a few. But regardless of where you live, there are options to help everyone.

Many times paying off the reporting bank can cause you to be reported for a longer period of time than you would have been if you had not paid the debt owed. This is why I sometimes suggest NOT to pay the debt owed to the reporting bank(s) especially on accounts that are older ones. 
Certain actions can restart the debt statute of limitations on a dormant account.

This includes:
acknowledging that you owe the debt

making a payment

entering a payment plan

making an agreement to pay

making a charge on the account

If the clock on the statute of limitations restarts, it starts back at zero. This gives the creditor or collector more time to use the court to force you to pay the debt. 

Ready to look for a bank that is right for you? Start with the Best Banks list. If there is nothing there to help you then try the Better Banks List. The banks on those lists have proven to help most people. I update this list regularly so please feel free to comment or send me an email if you know of a bank that can be added or just want to share your experience. My email is chexvictims.net@gmail.com 
What is Chexsystems?


Chexsystems is a credit reporting agency where banks and credit union report negative activity from checking and savings accounts. Types of activity that may be reported  to ChexSystems include:
Many people believe if they pay any debt owed to a reporting bank, that they will then be removed from chexsystems but this is not true. 
  • Having your account closed involuntarily by the financial institution.

  • Bouncing checks. Financial institutions will typically only report people who fail to pay the non-sufficient fund fees and/or bounce checks habitually, not those that do it once by mistake but some banks do 

  • Overdrawing your account. Being in the red a day or two before depositing funds will not generally get you reported to ChexSystems, but if you fail to add money after a reasonable period of time or you repeatedly overdraw, the chances are good that you will be reported.Some banks report every NSF
  • Committing an act of fraud, such as altering checks or providing false information about your identity.
  • Applying for a checking account, ordering checks, or reporting a check or debit card lost or stolen. Most of the time, these activities are perfectly legitimate and will not be held against you, but they can be a sign of fraudulent activity, which is why financial institutions may report them to ChexSystems. Some check ordering companies will report every check order.. it is important that once you open an account that you keep your information private and only order checks from a safe company 
    Information can stay on your ChexSystems report for five years. If you owe an outstanding debt, paying it does not get it removed from your report early (unless the financial institution voluntarily deletes it), Although your report will show that it was paid. if money was owed to the reporting bank(s) there is a chance that this will also be turned over to a collection agency and may show up on your credit reports as well.

    Positive information is generally not reported to ChexSystems. If you have never had any incidents of mismanagement, you probably do not have a ChexSystems report. 

     Many have objected to ChexSystems reporting practices.  

     -They state the system does not report fairly, and unlike credit bureaus which have both positive and negative information on your credit report;  

    -Chexsystems only contains negative information.  This jeopardizes your reputation as a consumer, when you would otherwise be qualified to open checking accounts.