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I currently have a negative item on my chex systems report from a checking account that i defaulted on a couple years ago. The amount I owe is around $200. This is keeping me from opening new lines of credit and Id like to get it taken care of. I've ordered a copy of my chex system report and once i get it how should i take care of the debt?
Can I do it in the same way i would a CA? Can I contact the bank and offer a settlement or a PFD? What are my options so I'm able to open new lines of credit?
I do believe with the chex system you have to pay the full amount, if it was turned over to a collection agency then you could deal with them at that time, but as it stands if the money is still payable to the bank then it would require the whole amount to get it cleared up.
Chex systems
Hi JJ,
Yes, you can talk to the bank for making the payments, and then request the bank to agree to the "Pay for delete" agreement. After you make the payments, they will report this to the Chex systems, and your account will get updated. However, remember to get the agreements in writing. Also keep proof of your payments.
You can refer to the sample "Pay for delete" letter available with this community.
If the collection agency does not update the account status, you can dispute this item with Chex systems. Send them dispute letter at:
ChexSystems
Attn: Consumer Relations
7805 Hudson Road, Suite 100.
Woodbury, MN 55125
Thanks,
Aaron
great advice Aaron
Is the bank a local one? Can you go in and have a sit down with the management about the issue?
ok so i got my chex report and the account is listed by the bank as being sold, and then it is listed again by the CA that purchased it. so if i pay the CA, will the listing from the bank still keep me from opening up accounts? or will paying it remove both listings?
by the way, i went into the local branch to try and settle this and that is when they told me it was sold off and id have to deal with the CA. I didn't ask them if it was possible for them to pull it back so I could deal with only the bank.
credit
Well, JJ..you need to call the CA and explain the situation. Since the CA 'owns' this account now, they are the only ones that can make arrangements with you. Also...there are alot of banks who check Chex Systems before you're able to open an account with them. (I believe?) it's out of the hands of the bank now.
At this point the bank has probably washed their hands of it and will not deal with it. Do you have the collection agencies name and contact information? Have you tried to contact them? Have they tried to contact you? If you have the name of the collection agency and you put it in a post here someone will come along and help you out with the contact information for it.
I do believe at this point you will have to deal directly with the collection agency.
I do have the contact info. its a company by the name of rjb:wells fargo debt (this is what chexsystems report says). they are not licensed by my state to collect so i don't know how i feel about dealing with them. i mean i want this off my report but the CA should be legit.
I'm also wondering if say i do pay them, will the original listing from the bank still haunt me?