Hi,

I am new to this forum and wanted to gain some valuable information from fellow members.

My Wells Fargo account went into NSF/overdraft after they accepted an automatic check which I did not authorize from my student loan company. They had my information on file for 5 payments, but they sent an e-check for the 5th one as well. Anyways, now the account is in collections and I would like to settle. My problem is that they (WF) kept the account opened until it racked up $1,648 in fees, when the original NSF fee was at $24. There is no way I can pay $1,648 as a student. I want to get this paid off, but with my income I can afford a few hundred dollars. I wanted to get this done asap so I can open a bank account, as the "chex" is killing me.

What are my options when settling with WF in terms of dollar amount?

Thanks in advance!

You can send them a letter and try to negotiate payment but I doubt they will settle for much less. Even if you pay it all off, it will not remove you from chexsystems. There are banks that will approve those on chex..it really depends on where you live as to what options are best for you

mca,

Thanks for your response. I remeber when I went to Wescom Credit Union in Orange County, CA, they had told me as long as I paid off my Chex-system items I should be able to open an account. I believe that is what the list on the chexvictims website says as well.

So if I pay WF right now, that will not take me off of the Chex system, meaning I am basically screwed opening a regular bank account for 5 years? If that is the case, I really hate myself.

Wescom makes those on chexsystems attend a " Get Checking" class. In order to be eligible for this class, your report must not indicate fraud and your debt must be paid in full. But yes you are correct , if you pay off WF they will not remove you from chexsystems. If you are going to try to pay for deletion, make sure you get everything in writing.

In CA ..your best options are US bank and BOA at this time. There are many " in store locations" of US bank that will open accounts for those on chexsystems. Bank of America is pretty much giving anyone and everyone and account at this time regardless of chexsystems. Just apply online.

Here is another bank that would help you as well.

Mirae Bank
-use chexsystems but it has been reported that you can still get an account here

Post from chexvictims board …………

One of the many Korean-owned financial institutions in LA does have a "Chexsystems" sign at their New Accounts desk but approved me without so much as a blink! 3 branches in and around downtown, but I opened one at their Mid-Wilshire office because it's right next to my work.

Mirae Bank
3265 Wilshire Blvd.
Los Angeles, CA 90010

Look for Ms. Park at New Accounts. $100 for checking, $100 for savings.