A person who applies for a checking or savings account has to go through a verification and approval process. That process may include the bank checking the ChexSystems database. If the bank retrieves any negative information from the ChexSystems database, then it has the right to deny the person an account with its establishment. The consumer may try to get around the negative ChexSystems information by applying for a joint account with another consumer. Approval is not possible, however, as the bank will still refuse account access to the person who is in the ChexSystems database. Litigo can help if you have questions?
What Is ChexSystems?
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.
ChexSystems is a nationwide database that collects information about banking customers and their activities. Many banks connect to their database, and they use it to make decisions about offering bank accounts to their customers. A person can find himself or herself in the ChexSystems database if that person ever committed poor banking activities. Examples of poor banking activities are closing a bank account with a negative balance, over drafting an account frequently, overdrawing funds from an ATM, writing checks on a closed account and similar activities. If you have issues call Litigo for assistance.
When a customer commits such actions, the bank will close the account. Call Litigo for help if this has happened to you. The bank may also report the activity and the balance to ChexSystems, and it may seek assistance from a debt collector, as well. Additionally, the bank may place the delinquent account on the debtor’s credit report.
How Long Does Information Stay in ChexSystems?
A debtor’s personal information may stay on a ChexSystems report or on a credit report for as long as seven years. The individual will have difficulty opening a new bank account until he or she resolves the issue. Some may claim the easiest way to resolve an issue is to pay the debt that the banks that reported you. This is not a true statement in fact may people are denied an account even after they have paid the bank back what they claim is owed. However, a person may want to try alternative methods of fighting the discrepancy. Don’t wait 7 years call Litigo For help with your issues.
How to Personally Dispute Items In ChexSystems
A person who believes that he or she does not owe a debt that is on ChexSystems may place a personal dispute with the company. The ChexSystems Consumer Relations Department is available to assist a debtor who feels that his or her report has been tarnished in error. Such a person can contact the department by mail or by fax. He or she should have a copy of the most recent ChexSystems consumer report in hand. They must investigate a dispute that they receive. The agency must give the consumer the results of the investigation within 30 days from the date they received the letter of dispute. If you are unsure what to do contact Litigo for help.
The consumer can download a form called a “Request for Reinvestigation.” The person can complete the form and mail it to ChexSystems. Alternatively, the debtor can fax the information so the investigation can start sooner. The fax number for ChexSystems is 602.659.2197. Or call Litigo for help with your issues can get them resolved by assisting you in filing a proper dispute. Get Help from a Litigo representative today.
You have the right to add a statement to a dispute. The statement must be shorter than 100 words, and it must be respectful. Therefore, the statement cannot contain profanity or any other form of vulgar language. ChexSystems is a reporting agency, Just like Early Warning Services, Trans Union, Equifax, and Experian. The banks are the organizations that report their closed bank account to them. Litigo can assist you with them all.
The Fair Credit Reporting Act only allows credit bureaus to hold items on a person’s credit report for seven years. Therefore, a person who is still affected because of a reported item after seven years can have the negative item removed because of the statute of limitations. The person can use the previously stated method for removing the item, and he or she can go straight to one of the three major credit bureaus, as well. The credit bureau must abide by the laws in the act. If you have more questions contact litigo.