cj39

Collection agencies lie all the time...Many people believe if they pay any debt owed to a reporting bank, that they will then be removed from chexsystems but this is not true. Many times paying off the reporting bank can cause you to be reported for a longer period of time than you would have been if you had not paid the debt owed. For example: a report that is from 2006 will be removed in 2011. If it is paid the bank can choose to report it 5 years from the date last paid. So for example a debt on a report from 2006 is paid in 2010, the report would not be removed until 2015. This is why I sometimes suggest NOT to pay the debt owed to the reporting bank(s) especially on accounts that are older ones. I would suggest that you call and ask the bank to have the report removed since the debt has been settled. I am guessing that they won't but it is worth a try. The debt hasn't been settled yet. I'm trying to determine what my approach should be. I've just received a letter from the agency. I would like to pay the full amount. I'm just wondering if the agency would really be able to remove me from ChexSystems.

Hello, I had a bank account that went into overdraft and was eventually sold off. I would like to ultimately negotiate a "Pay for Delete" and pay what is owed in full. The question I have is whether getting the collection agency to agree to a Pay for Delete would also remove me from ChexSystems. I called the main bank number, and the representative claimed that they no longer had anything to do with the account as it had been sold (although, when I went into a local branch they offered to essentially send the amount to the collection agency); the representative also claimed that the collection agency could remove me from ChexSystems. Am I right in believing that a collection agency really wouldn't be able to do that ? Is there any way to get both the Pay for Delete and the ChexSystems removal, and should I try to deal with the bank or the collection agency ? It seems like at this point I'm limited to the collection agency, so perhaps I already have my answer. Also, if I am able to get the Pay for Delete from the collection agency, can I use that to dispute the ChexSystems report ? Thank you in advance.