Old WAMU on Chexsystems - should I settle?

[abduljabbar]

My DW and I both had accounts from 07 which went negative and were closed. We both have multiple accounts now with no problems. Today I tried to open an account at a CU (need a low auto loan rate) and was denied due to WAMU on chexsystems. WAMU's stuff is all at Chase now. Chase told me its a chargeoff and that CA owns it and I have to pay them, once I pay them in full they will notify chexsystems within 30 days and they can't guarantee any sooner. I called the CA and they are willing to settle for 50% of both debts. Is this a smart move? Will Chase report the debt as paid or can they say it wasnt satisfied? I'm just trying to get chex to clear that asap. What's the best move? Time is important.

[abduljabbar]

I settled DW's account.

 

Can I get a CA repping or who owns an account to agree to a PFD/Not report to chex/confirm to chex etc in a settlement? Will it be binding for Chase who has to call/deal with Chexsystems?

 

Chase told me CA owns the account but also said it was a chargeoff and they expected payment in full- weird circular bs from the person I spoke to. I really want to ask the CA for a PFD etc in the settlement statement - will that be worth anything if Chase refuses or tries to list a remaining amount?

 

Any tips MCA?

[abduljabbar]

bump

[mca]

The CA can not remove you from chexsystems, only the reporting bank/CU can do that.

 

I pay them in full they will notify chexsystems within 30 days and they can't guarantee any sooner.

 

WAMU/ Chase will not remove you from chexsystems even after you pay off this debt. They only have to show that it is paid/settled. They will not remove you, I can assure you of that. If you are going to pay for deletion, get it in writing. If they tell you they will remove you, they are not being honest. These banks and credit unions will not allow you to open an account even if it shows paid. There are some out there that make excpetions and some that do not use chexsystems. options really depend on where you live