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tmcgill

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About tmcgill

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    Chexsystem Black Belt Guru
  • Birthday 10/24/1953

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    Dallas, Texas

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  1. Thank you for the update. Keep us posted on any operational or service issues - both positive and negative.
  2. You violated your account agreement with the negative balance. It was reported to Chexsystems - and possibly Earning Warning Services (EWS). Since it was paid, Chex should update it to a paid status. Many banks and credit unions will approve with a paid indicator for negative entries. Each bank or credit union has their own internal policies. During the five year negative reporting period, use non-Chexsystems - non-EWS financial institutions. Let us know if you need help locating a bank or CU in your area. As for legal action, there is no basis.
  3. I haven't heard of a brokerage account closure in this instance. **This is why we advise finding out what is used for approvals first. Those inquiries can negatively affect future applications.
  4. **Paying amounts does not guarantee removal.** The accounts will still report for five years from the charge off date. However, some banks and credit unions will approve if charged off accounts are paid. Each financial institution has their own internal approval system. The key is to identify where you want to bank, and contact them to find out their approval process. Call and ask them what they use. You can also post on this forum for feedback from others who may use that bank, or got denied. This minimizes inquiries which can affect approvals. When You Have Negatives On Chex/EWS: 1) Have a primary bank account for household bills. 2) Maintain a non-Chex, non-EWS account as backup for monthly bills. 3) Keep a debit card for point-of-sale, internet purchases only. 4) Optionally, keep a savings account for emergencies only. **Never keep funds in a single account only. If possible, split payroll direct deposits between accounts. Here is my setup. 1) Local credit union for monthly bills. 2) Non-Chex/EWS online backup bank account. 3) Chime card for POS/Internet. 4) Ally Money Market for savings. **I use cash apps like GPay and Venmo to move funds between accounts.
  5. They have been known to still run Chexsystems.
  6. YOUR ACCOUNT AGREEMENT: Generally states you will be responsible for ALL deposits. Without a goodwill removal by the bank, you are SOL. Banks take a hard line on those types of deposits. **Even though you did not know the checks were fraudulent, you are still responsible for keeping the account in good standing. The best move is to deal with nonChex, non-EWS banks. There are many options available while you are in Chex-EWS "jail" for the next five (5) years. As mentioned above, you could go into the bank and explain your situation, asking for removal. You contact the branch manager when trying a goodwill approach. However, it may be a longshot and there are never guarantees. What do you think a lawyer could accomplish?
  7. No, but they do report new account applications.
  8. Disputing with Chex may help you legally. If the bank "verifies" with Chexsystems, you can do a procedural request. The bank has 15 days to respond and show how they verified. This entails checking and verifying records and account documentation. For consumer complaints, file with a regulator. Legally the bank has to respond in 30 days with documentation to support their actions. NOTE: You have to supply accurate details and documentation to support the complaint. National Banks: https://appsec.helpwithmybank.gov/olcc_form/
  9. 1) Dispute with Chexsystems as inaccurate information. 2) If no removal, send a goodwill letter to a Key Bank executive. Explain the circumstances and ask for removal. If you send a letter to Key Bank, include dates and proof where you reported the fraud.
  10. Excessive inquiries are probably a major factor. They factor in when going through Chexsystems. Chex will throw in a lot of jargon, when the inquiries are really the reason. Stop applying for 6-12 months for new accounts using Chexsystems. There are many other options for credit unions and banks that won't look at those.
  11. The law requires periodic statements. The legal language is geared in favor of the banks, but I would try the complaint first before paying. https://www.helpwithmybank.gov/get-answers/bank-accounts/general-account-questions/faq-bank-accounts-gen-account-01.html
  12. Before you try to pay: (Having paid accounts on Chexsystems can often make a difference. Some banks and credit unions will approve a new account if it shows no money is owed. Each financial institution has their own guidelines. Try This First: Your account with the bank was governed by the account agreement your wife agreed to when she opened the account. Some have language that allows them to reopen the account if automatic or electronic payments are presented in a certain time period. If the account was reopened, they were required by law to send you periodic statements. 1) If it was a large national bank, file a consumer complaint with the Office of the Comptroller. 2) If it is a small, local bank, the complaint should be filed with the state agency that regulates state-chartered banks. **Your complaint should be that you have not received statements or communications indicating there were fees or activity on the closed account to trigger a reopen. 3) Pull your Chexsystems and Early Warning Services reports to see if the account was reported.
  13. Wasn't able to get my Equifax report in 2013. Never found out why. Sent copies of license, SSN and proof of residence. No response. Called about 3 or 4 times. No response. Filed a consumer complaint with my state attorney general and the Consumer Financial Protection Bureau, and faxed their legal counsel copies of the complaints. Got my report in less than 7 days.
  14. Not sure, I'll double check my list.
  15. You can verify with the attorney, but I don't think it would affect the arbitration.

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