The most effective way to deal with your problems with ChexSystems is to get entirely off the list. Remember that this company isn’t perfect. They make mistakes that can keep you from getting a bank account. If your status is a result of an error by ChexSystems, you can get them taken off and clear up your record. Here’s how.
In order to find the error on your ChexSystems record, you’ll need a copy of that record. You can order a copy by calling ChexSystems (800-428-9623) and following their automated instructions. Remember that it takes a few days to get it. You’ll want to bookmark this article so you can return once your copy arrives.
Spend some time reviewing your report. It should include your name and your consumer identifier, as well as a few items of reported information (what ChexSystems is telling banks about you). You’ll also see one or more “Inquiries Initiated By Consumer Action”. These are the things you reportedly did to cause someone to pull your report. There may also be one or more “Retail Information” listings, which are reports from other check writing databases, “Inquiries Not Initiated By Consumer Action”, which are reports that other people have pulled about you without your permission, and a history of checks you’ve ordered and your social security number and drivers license information.
You’ll have to look your report over with a fine toothed comb. Any error or inaccuracy should be remembered. Then think about how you can prove that these items aren’t correct. Focus especially on the items in the reported information section, since that’s what banks are being told. Are there reports of debts owed to banks that you know have been paid? Find proof of payment so that you can dispute the entry.
Once you have your proof, it’s time to go on the offensive. Get the incorrect information taken off your report as quickly as possible. A law called the Fair Credit Reporting Act (FCRA) requires ChexSystems and all other Consumer Reporting Agencies to let you dispute any information that’s inaccurate or incomplete. Start your dispute by sending a letter to ChexSystems detailing the errors on your report. By sending this letter, ChexSystems is required under the FCRA to reinvestigate those errors within thirty days. If you send additional information during that thirty day period, they may take forty-five days. If they can’t verify the information you’ve disputed, ChexSystems must remove it from your record.
If you’re stuck in the limbo of being on the ChexSystems list, unable to open an account, it’s worthwhile to spend a few minutes looking for errors, and writing a letter to dispute them.
The only cost to you is time and a stamp, and if you succeed, your record could be entirely clean. Consider using a letter like the example below. Be sure to clearly point out all errors. If you use the example letter, be sure to replace all the italicized or bracketed comments. Clarity and politeness are important, as is accuracy. Send the letter either via fax, or by postal express mail, and be sure you keep a copy.
Once you’ve mailed your letter, ChexSystems may contact you for more information. Make sure you remember when you sent your letter, and be sure to put a note on your calendar. If you don’t hear back from them within thirty days, you’ll need to follow up. Check back at this website to find sample letters that you can use for the follow up process. It only takes a few minutes to find out what errors are on your ChexSystems report, and the benefits can be huge. Imagine being able to get a bank account again, with a clean record!