MCA

[CTSMOM01]

I have a Wachovia entry on my Chex dated from 08.2004. I'm ready to send a letter to Chex but would like to know which letter I should use. The letter on here is straight to the point and the letter listed on your website is detailed. Just wanted to know which one has gotten more results. I also had a question about your sample letter. Why does the 1st dispute letter have "cc for attorneys name" or is that just for people who have an attorney?

Thanks for all your help.

[mca]

The attorney part is just a scare tactic and don’t hesitate to forward a copy to your attorney general and their AG if they deny your 1st request.

 

As far as which letter is best. I could not answer that...I have never seen any other letter. There is no guarantee for removal. Many times the older reports are the easier ones to get removed. Also many times it depends on what bank is reporting you. Some banks are easier than others

 

 

This is the information needed before recommending a Chexsystems

dispute:

 

1) What does your Chexsystems report say . . . does it indicate a specific

dollar amount is owed, or does it list NSF Activity, Account Abuse,

etc. ** The objective is to catch them reporting incorrect information

or an inaccurate amount.

If the report says NSF Activity or Abuse, was there a negative balance

on the account? Has it been paid?

 

2) When was the entry added to your Chexsystems report? If the account became negative - when was the first month it was negative? What month was it closed and when did the bank report it to Chexsystems? **This helps determine when the five year clock should start ticking - and when the account should have been reported by the bank.

 

 

Again, you are looking for any type of inaccuracy you can hold them

accountable for. The FCRA specifies that only accurate information can

be reported, and it provides a time requirement for reporting negative

information. Banks cannot wait and report negative accounts when they

want to.

 

3) Did you receive a collection notice from Chexsystems?

**THIS IS VERY IMPORTANT! If you receive a collection notice, then it is a different ballgame. Chexsystems then must adhere to the Fair Debt Collection Practices Act. The FDCPA says they MUST validate -- provide a full account history of all statements, signature forms, etc.

 

4) Were you the primary account holder? **If not, did you ever sign a

signature form or use the account? Yes Chexsystems is subject to the

same rules/regulations as set forth by the FCRA. You should first

"dispute" the item with Chexsystems and if it comes back "verified"

within the 30 day time frame, you should request "validation" of the

debt. BE SPECIFIC if you request validation.

 

Ask for original copies of your signature, etc. If you don’t , they

will send you some bogus documents and call it validated and then call

it a day. Most people on here have dug their own grave with the

reporting bank, and are hoping the bank does not verify the chexsystems item within the allotted time frame. This can and does happen. Especially if

you are dealing with a BIG bank (BofA, Wells Fargo).

 

There are several methods you can use for deletion. Some go for the method that essentially catches Chexsystems in a FCRA violation.

Oftentimes they use the "violation" as leverage for deletion.

 

Another avenue to go if you can’t get your item removed. Being listed

in Chexsystems SEVERELY (if not completely) restricts your banking

abilities. They can be held liable for multiple FCRA violations if the

information they have on you is not correct..the inforamtion must be 100% correct.

Edited April 1, 2008 by mca