Best Course of Action for Removal/New Account

[codefreak13]

Hello all, stumbled upon this forum coming from another credit site. I am in the process of cleaning up mistakes made to my credit and bank accounts over the past decade. I have already ordered my ChexSystems and Telecheck reports. My true EQ Fico score is 558, and I currently do not have a banking account. I just got the ChexSystems letter in the mail and (to my surprise) only have one entry on it:

 

JP Morgan Chase

Date Reported; 6/2/2010

Reported For: Non-Sufficient Funds (NSF) Activity

Closure Status: Not Reported

 

This account was closed and went to collections, which I then paid back in late 2010. Is my best course of action to speak to Chase to get them to update the status with ChexSystems, or should I dispute it directly? Regardless of what happens there, will this lone entry prevent me from getting a new account at most banks given my current situation? Lastly, does anyone know if First Midwest Bank uses ChexSystems? Thanks in advance!

[mca]

Hello all, stumbled upon this forum coming from another credit site. I am in the process of cleaning up mistakes made to my credit and bank accounts over the past decade. I have already ordered my ChexSystems and Telecheck reports. My true EQ Fico score is 558, and I currently do not have a banking account. I just got the ChexSystems letter in the mail and (to my surprise) only have one entry on it:

 

JP Morgan Chase

Date Reported; 6/2/2010

Reported For: Non-Sufficient Funds (NSF) Activity

Closure Status: Not Reported

 

This account was closed and went to collections, which I then paid back in late 2010. Is my best course of action to speak to Chase to get them to update the status with ChexSystems, or should I dispute it directly? Regardless of what happens there, will this lone entry prevent me from getting a new account at most banks given my current situation? Lastly, does anyone know if First Midwest Bank uses ChexSystems? Thanks in advance!

You can dispute it but there is no guarantee for removal. Being an older one is a good thing so it might come off easy with a dispute. The record you have could prevent you from getting an account at some banks but my guess is that it should not be too hard. Where exactly do you live? Zip code? And yes from what I know, First Midwest still uses chexsystems

[codefreak13]

Thanks for the reply, I am in zip code 60423.

 

The actual item is not disputed, in that I indeed had an account closed due to NSF, but rather that it shows as Not Reported rather than paid. Do banks see the details of that like a mortgage lender would see unpaid debt on a credit report? Does the closure status affect banks' decisions to grant accounts? Thanks again!

[codefreak13]

I have another question for this. I believe this account was for a Chase account that had three simultaneous overdrafts or something like that. I remember it got sent to their internal collections and I'm pretty sure that I have paid it but I don't have proof. Would it be worth it to go a Chase branch to speak to a manager to see if they will remove it? Or is a dispute with Chex the better way to go? Thanks!

[BRBiz]

I would first dispute with Chex and see if it gets taken car of that way if not contact chase directly.

[codefreak13]

So I disputed with ChexSystems and it was returned as verified. No changes or updates to the report - it is an exact copy of my requested report before initiating the dispute.

 

I have a few banks that will be ok with a Chex entry as long as there is no balance owed, but they are being scared off by the 'Closure Status: NOT REPORTED' and 'Chex Systems has no debt information available' lines (which I don't even know if they are supposed to matter for an NSF entry). I am also afraid that if I get it updated to reflect a status of nothing owed, that they will change the date reported.

 

At this time would it be more beneficial to send Chase a letter of dispute per the chexvictim process, or go into a branch and speak with a manager about possibly getting it removed?

[BRBiz]

So I disputed with ChexSystems and it was returned as verified. No changes or updates to the report - it is an exact copy of my requested report before initiating the dispute.

 

I have a few banks that will be ok with a Chex entry as long as there is no balance owed, but they are being scared off by the 'Closure Status: NOT REPORTED' and 'Chex Systems has no debt information available' lines (which I don't even know if they are supposed to matter for an NSF entry). I am also afraid that if I get it updated to reflect a status of nothing owed, that they will change the date reported.

 

At this time would it be more beneficial to send Chase a letter of dispute per the chexvictim process, or go into a branch and speak with a manager about possibly getting it removed?

 

Don't bother going in branch there is nothing they can do for you.. Honestly I would just look for some other banks.. Anything they do will most likely just hurt you more. Just don't touch it!