I have an entry with Chex from BOFA. I've previously disputed it without any luck of getting removal. Apparently, the debt was sold. Does it fall off 5 years from the date reported in chex? Or 5 years from the date the debt was sold?
Date Reported: 09/01/2005
Reported For: ANY AMOUNTS OWED HAVE BEEN PAID
ACCOUNT ABUSE
ACCOUNT/DEBT SOLD
Paid in Full/Settled in Full Date: 11/06/2008
Full Version: When will this Chex entry fall off?
It is possible to be reported 5 years from the date of the last payment made. It looks as if you are being reported from 2008 if that is what the report says. This is why I recommed to those that have older reports NOT to pay them until the 5 years is up. Most banks will not update from the time of the last payment but lately we are seeing this more and more. Here is a case where it was updated and never should have been:
QUOTE
I went to US bank today and got denied because they said the report has Fraud, but the report I recieved doesnt say anything about fraud, Not sure what to do and on top of it I found out that the account was closed back in 2000. How can they report it again in 2007 when I paid it. The only reason I paid it was because it showed on my credit, talk about a catch 22. Is there anyway to atleast get the fraud thing of the report. Please help!!!
QUOTE (mca @ Sep 30 2009, 11:00 PM) 
It is possible to be reported 5 years from the date of the last payment made. It looks as if you are being reported from 2008 if that is what the report says. This is why I recommed to those that have older reports NOT to pay them until the 5 years is up. Most banks will not update from the time of the last payment but lately we are seeing this more and more. Here is a case where it was updated and never should have been:
QUOTE
I went to US bank today and got denied because they said the report has Fraud, but the report I recieved doesnt say anything about fraud, Not sure what to do and on top of it I found out that the account was closed back in 2000. How can they report it again in 2007 when I paid it. The only reason I paid it was because it showed on my credit, talk about a catch 22. Is there anyway to atleast get the fraud thing of the report. Please help!!!
Does it matter that it was not paid by the consumer? What if they Transferred\sold the debt?
If they sold the debt it should still fall off in 5 years from the date that they last payment was made on the account
Can you be reported twice? Say if you had an account close in 06 then another closed in 2009? would it then drop off in 2014, or 2011?
yes, you can be reported twice. It would be best for you to get a free copy of your report to see exactly what it says http://www.chexsystemsvictims.com/Free_Che...ems_Report.html
QUOTE (mca @ Oct 7 2009, 11:46 PM)
yes, you can be reported twice. It would be best for you to get a free copy of your report to see exactly what it says http://www.chexsystemsvictims.com/Free_Che...ems_Report.html
Thank you. I order it on wed. I'm anxious too see it.
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