I'm hoping for some guidance with a problem. Charter One has reported two checking accounts to ChexSystems for ACCOUNT ABUSE. They both were reported on 12/2005. One item I had outstanding overdraft of $544.76 and it was charged off. I have recently paid off a settlement to RJM Acquisitions who purchased that debt. The other item listed does not show a debt reported. It was an account that I had at the same time as the other but there was no overdraft. My questions is what can I do to get these removed? How does the fact that I paid the settlement to RJM effect the chexsystems entry? Any help would be much appreciated. Thank you in advance.

The account that you did not make a payment on should fall of next year. All reports are removed after 5 years by chexsystems. The account that payment was made on may be reported for an additional 5 years from the date that the payment was made to RJM. From what I have been seeing from other people, RJM is indeed reporting the addictional 5 years. This is why I typically tell people not to bother paying off a bank unless the report is recent. It can hurt you in the long run when it should help you.


You should definitely try a dispute www.chexsystemsdisputes.com There is no guarantee for removal but it never hurts to try.

Paid or NOT paid, they have the right to report you to chexsystems for 5 years from the date the last payment was made on the debt. Paying chexsystems does not remove you

mca,

on www.chexsystemsdisputes.com, when am I sopp to send in letter 4?

If the bank doesnt respond to letter 4 after 30 days do they have to remove my chex entry?

I have already sent letter 2 to chex and awaiting a reply.

no the bank doesn't have to respond technically since they are not a credit reporting agency. It is still good to dispute with the banks since many have been removed this way. You send in letter 4 to the bank if the dispute to chexsystems has failed


If Chexsystems doesn't respond then yes they have to remove you and are in violation

How many days does chex have when i have sent them the 2nd letter (the 15 day one)?

yes 15 days

There are five stages to disputing:

1. Gather the facts and send the initial dispute letter.
2. If the information is not removed, send a procedural request.
3. If the procedural request does not result in removal, dispute with the original creditor.
4. Send the ITS - Intent to Sue Letter
5. File complaints with the bank regulator, the state attorney general - and consider legal remedies.

Step 4 is allowed under FACTA [Amendments to the FCRA]. You can dispute directly with the original creditor if the credit reporting agency does not resolve the situation. The original creditor must investigate and respond within 30 days.

The "procedural request"

This is where Chexsystems must show how they "verified" the information with the bank

NOTE: Neither the FCRA or FACTA require them to produce documents as proof. However, they must indicate how they verified.

If it has been 15 days, send the Intent to Sue letter to a Chexsystems executive
[I like to send to their legal counsel] for their FCRA violation. Send a certified RRR dispute letter to a bank executive, indicating they are in violation of the FCRA for verifying inaccurate information with Chexsystems.

***** It is VERY IMPORTANT that you send everything certified mail and make sure you keep copies of everything sent *****

ell o ell i guess i get to sue chex soon