Q re: the "five year rule"

[moonwife]

So, I'm new to this whole chexsystem thing because I never had a problem. Well, I went in to get on my local CU and I was turned down because of Chexsystem.

 

I had an old (about 8 years old now) Wamu account on there. Apparently they have put it back on as of March. How does that work, is this similar to a regular CRA dispute? Is the 5 year rule for every state? If so, do I simply then just dispute it as too old?

 

thanks.

[mca]

Did you make a payment on it in march or anytime since the account went to chexsystems originally? Was it reported before March?

[moonwife]

Nope no payment. I suspect that maybe all my credit repair activity somehow triggered them to see I was doing stuff?? I don't know. But yes it was reported before March. I never knew the rules about chexsystems, but in hindsite it stopped being a problem for me a few years later, so it may have fallen off at the five year mark, not sure. When I went to get a CU account the lady said "This WAMU account was reported in March".

[mca]

get a new copy of your chexsystems report so you can see exactly what is reported.. if they have updated the age of it, that is illegal. For free report www.chexhelp.com