Is there any ways to remove from Chexsystems?

goals^n^dreams

goals^n^dreams

Level 2 Member
I am on Chexsystem for negative balance on my Bank of America. In May 2014, I deposited MOs and then I withdrew. I forgot to check MOs if they were clear before I withdrew. The MOs was not clear until 7 days later. My account was shut down and I had negative balance. Then BOA closed my account. After my account was closed, my MOs was clear. After that, I found out that I had a mark on Chexsystem from BOA. It is described as "suspected fraud activity."

What should I do in this situation? Will I have a chance to remove it?
Thank you for your help!
 
loves2fly

loves2fly

Gold Member
your situation seems to be like happy9xx on FT, is that you? if you are him/her, and have already tried to resolve it with BoA with no success, I don't know what other options you have. afaik, it is only the FI that made the report that can also request it to be removed if the issue with them has been resolved.

Is this negative Chexsystem report giving you a lot of trouble MSing?
 
loves2fly

loves2fly

Gold Member
goals^n^dreams said:
Yes, it is m:). I cant open any reward checking or saving right now until 5 years later. I really hate it.


Nope, my MS was still very high until my OBC was shutdown 4 days ago.
Click to expand...
afaik, that's what Zgirl also said about 5 years.

I'm sorry to hear your OBC got shutdown. I hope you can continue to do AoR.
 
cocobird

cocobird

Level 2 Member
You cannot "withdraw" from Chex Systems, since it is a database similar to that of the credit reporting agencies, which collects information on your past financial history. The database is a collection of information voluntarily reported by financial organizations.

In the case of Chex systems, it relates to deposit account activities, but is still subject to the same rules of the Fair Credit Reporting Act. All the consumer rights of the FCRA can be applied to Chex Systems, which means that you can dispute the report, place information in the Chex Systems that has to be included in any reports pulled by financial institutions, etc.

YMMV whether this will help you going forward, since the financial institution pulling the report decides what to consider and how much weight it will give in its consideration.
 
D

DebentureBoy

Level 2 Member
You can dispute, dispute and dispute. Each time you submit, you get a chance at getting the record removed.

You can also include a personal note on your report - something like: "I made a deposit and then subsequently removed the money prior to the deposit clearing. This resulted in a temporary negative balance, which I have since corrected. I have tried unsuccessfully to have this record removed from my Chex file. " You can wordsmith this -- I suggest fewer words. This may help you get new accounts in some cases and may help upon phone calling to reconsideration.

You can also bring in the CFPB. Tell them your story clearly and ask for the resolution you want from BOA. I have found them quite prompt in their action and have found some success in getting neg info straightened out.
 
D

DebentureBoy

Level 2 Member
Here are the links for Chex. Delete the spaces so we don't get tracked back...

https://www. consumerdebit.com/consumerinfo/us/en/index.htm

https://www. consumerdebit.com/consumerinfo/us/en/Printable%20Order%20Form.pdf

Get your report -- free once per year and free for every account you are denied. Follow the info to dispute. You may or may not get success with Chex, you may or may not get success with the FI. Just keep trying.


And here for the CFPB:

http://www. consumerfinance.gov/complaint/

A complaint with them seems to get the FIs attention.

I hope this all helps...

DB
 
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