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Chexsystem and paying off old bank account
Posted 23 January 2017 - 08:06 PM
Posted 24 January 2017 - 11:19 AM
Unfortunately, paying will not remove the reported account. Chexsystems would have to update it to a paid status, and some banks will approve if owed amounts show they are paid.
Since you have a year remaining, I suggest finding primary and backup non-Chexsystems accounts. Also, there are several banks that will approve if your negative Chex file info is 3 years or older.
Do you know if you have any negatives in EWS (Early Warning Services)? This is a CRA owned by several of the big banks, and contains "fraud" alert reports. (Many of the reported accounts did not have actual fraud, but I think it is one more way these banks penalize accountholders who owe them money).
Did you have possible banks in mind, or do you need suggestions for your location?
How to check your EWS report:
Edited by tmcgill, 24 January 2017 - 11:20 AM.
Posted 24 January 2017 - 01:48 PM
I spoke with Altra and they told me that if I show proof I paid BOA then I could apply, but I owe BOA alot and wasnt sure If I could just call BOA and see if they would settle with a smaller amount than what I owe.
Posted 24 January 2017 - 04:30 PM
Hope Credit Union
Second Chance Account For Those On Chexsystems. Open to TN residents and those in neighboring states.
**Note: They are in Jackson, TN and you might have to travel to open the account. Once opened, they are members of the Co-Op network.
Once the account is open, you could use a local member credit union for banking. Co-Op members near you are on their website.
Highland Federal Savings and Loan (Crossville, TN)
ID Check only - No Chexsystems
Although you have been looking for a credit union, we have gotten good recommendations for online banking through Chime Bank. You could use that as a backup.
Edited by tmcgill, 24 January 2017 - 04:31 PM.
Posted 24 January 2017 - 10:04 PM
Posted 25 January 2017 - 11:47 AM
I spoke with them last December, and you can apply for the second chance account and membership online.
Note: Let us know if you decide to apply and any updates. Good luck!
Search for Shared Branches (Co-Op Network) in Your Area Here:
Edited by tmcgill, 25 January 2017 - 11:49 AM.
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