I just went to a credit union to open a checking account, and was told that they could not open one. I defaulted on a loan 7 years ago, and this is reported on telecheck. Is there a time limit for how long this can stay on record? The loan I defaulted on is dropping off of my credit report in August, but the telecheck said that it was reported to the in November of 2004. Does this mean I have to wait until then before I can try to have it removed, or should it drop off at the same time it comes off my credit report?
If I have to wait, is there a list of banks or c.u's that do not use telecheck?