I had an overdraft that went unpaid and was reported to check systems. I paid the debt in full, but I'm still unable to open a new checking account with any bank. What can I do?
2007-08-06 16:22:47 · 9 answers · asked by tex 1 in Business & Finance ➔ Credit
Call the former financial institution where the debt incurred and ask to speak to the collections department. Also, do you have some proof that the debt was paid, such as an account number of a copy of a check or receipt of payment? If so, when you speak to the collections department, let them know you have proof and you'd like for them to look up your account and remove your name from check systems. The thing is, this has happened to me too and YOU have to be the one to tell them to remove your name from check systems (which doesn't really make sense if NOONE ever tells you). Once they remove your name, ask them to send a letter to you verifying that they DID remove you and the debt was paid. If you don't receive the letter within 10 days, call them again. You practically have to harass them. After all, they harassed you to get the debt paid, they might as well get their end of the bargained cared for!
2007-08-06 16:29:23 · answer #1 · answered by Orchideye 3 · 0⤊ 0⤋
First verify that it is updated in ChexSystems. They are considred an CRA(Credit Reporting Agency) so they are required to provide you 1 free report every year, just like the big 3, under FACTA. If it is not marked as paid you need to dispute it and have it corrected.
Now, if it is correct it will remain in there for 5 years from date of the event. This is different than your normal consumer credit report that has info remain for 7 years. Several major banks are starting to allow people in ChexSystems to open an account if the debt has been cleared and at least a year old.
2007-08-06 16:49:38 · answer #2 · answered by OC1999 7 · 0⤊ 0⤋
Walmart has a new service where you can open an account for a small fee in a situation like this one. Call another bank some will allow you to open another account with a very small monthly charge. Old National Bank in Evansville, Indiana will for $6.00 a month. I do not know what walmart chargres.
2007-08-06 16:32:52 · answer #3 · answered by Anonymous · 0⤊ 0⤋
It seems like your old bank gave you money when you needed it now you want to tip toe around paying them back by banking at another institution. Pay the old overdraft immmediately even if you need to beg, borrow, and sell stuff. "They have allowed me to take out at least 3 loans, all of which have been paid back early". And you still chose not to pay an outstanding Overdraft though you obviously had the money, i would garnish your wages or file criminal charges but thats just me. Have a great life and i hope karma catches up with you
2016-05-20 02:45:02 · answer #4 · answered by ? 3 · 0⤊ 0⤋
Many people can't get checking accounts because they have abused the privilege. You can buy money orders and cash checks at check cashing places until your checksystem info is old. Try a credit union or maybe someone will open a savings account and let you use it. I let a nephew use mine once because he didn't have a way to cash checks.
2007-08-06 16:50:10 · answer #5 · answered by shipwreck 7 · 0⤊ 0⤋
Once you are on chex systems it is hard to get it taken off even if you have payed it.I dont know where you live but if you have a us bank in your area they will open an account for you even if you are on chex systems try usbank.com
2007-08-06 16:28:27 · answer #6 · answered by scott w 2 · 0⤊ 0⤋
Check the internet. They have a number of 2nd chance banks.
2007-08-06 16:45:31 · answer #7 · answered by Anonymous · 0⤊ 0⤋
tell the bank that you got the draft from and tell them to recheck there information on your account to the collection agency and they would fix it for you.
2007-08-06 16:31:22 · answer #8 · answered by lisa B 2 · 0⤊ 0⤋
contact the check systems and see what they can tell you.
2007-08-06 16:27:57 · answer #9 · answered by ruth4526 7 · 0⤊ 0⤋