Chexsystems Common Questions

>>Who is Chex Systems Inc.?
ChexSystems, Inc. is a verification service used by financial institutions such as banks and credit unions. This is simply a tool, used within the banking industry, to aid in the application process of new accounts. The purpose of using ChexSystems is to identify any account mishandlings by potential applicants. Litigo can help you if you have questions.

>>What is account mishandling?
Account mishandlings are causes for your bank to close your deposit account. This may include: excessive overdrafts, fraud, debts owed to a financial institution, or false information given on an application. Each bank has its own policy for defining account mishandling justifying closure of an account. If you feel you didn’t mishandle your account contact Litigo for assistance.

Litigo Inc. is not owned, operated, or affiliated in any way with Chex Systems Inc. or its parent Fidelity National Information Services (also known as FIS). Litigo cannot remove, update, or verify a consumer’s file in the CHEXSYSTEMS database, which is owned and operated by Chex Systems, Inc. Litigo can assist you in filing a dispute against the negative information that banks have reported to Chex Systems. Contact Litigo for assistance 1(877) 432-4818.

>What is on a ChexSystems report?
ChexSystems reports contain a variety of information used for determining qualification of a checking or savings account. If you are unsure about the information or have questions contact Litigo for help.

This includes:
•If the applicant has an account closure on file
•Whether outstanding debts have been paid
•Validation of applicant’s social security information
•Validation and verification of applicant’s drivers license information
•Banks owed money by applicant (usually due to overdraft fees, ATM transactions, or automatic payments that were honored on insufficient funds)
•Multiple overdrafts
•Savings account, debit card or ATM abuse
•If the applicant has checks outstanding on the SCAN database (SCAN is a service used by retailers that keeps track of bank accounts and identification numbers from checks that have bounced)
•How many accounts the consumer has applied for in the past 90 days
•History of checks ordered in the past 3 years

If you are unsure how to get your report contact Litigo and we can guide you.

>>Do ChexSystems reports contain any positive information?
No. ChexSystems reports only contain negative information unlike other Consumer Reporting Agencies (CRA) who will report positive and negative activity in a consumer’s history.
>>What if ChexSystems does not have a report on me?
If you are not indicated on ChexSystems, you either have no deposit account history or you are in good standings with current or previously used financial institutions.

>>How do I get a copy of my ChexSystems report?
ChexSystems reports can be ordered by visiting the website www.consumerdebit.com. It will be delivered to you in 5-7 business days. If you have been denied an account in the last 60 days, it is possible to obtain a report online. You are able to request this report once every 12 months. If you are not sure where to go contact Litigo for help.

>>Will my report stay on ChexSystems forever?
No. Each report submitted to ChexSystems can be kept in their records for up to 7 years based on the laws of the fair credit reporting act. Don’t wait 7 years contact Litigo.

>>Can I dispute a report with ChexSystems?
Yes. Disputes regarding a report can also be filed with ChexSystems. When a dispute is received by ChexSystems, they must respond back to you 30 days after receiving your dispute, ChexSystems must verify your claim with the financial institution that submitted the report. If the disputed information can not be verified by ChexSystems, the information must be deleted from your report. You can also contact Litigo for help.

If you were reported to ChexSystems by a previous bank that has closed your account, you do have options to restore your banking privileges. Contact a specialist at Litigo today to discuss the options you have in this matter. You can reach Litigo’s Dispute Assistance Department directly at 1-(877) 432-4818 call us today for guidance in resolving your issues.

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