I thought I was.....Chexsystems?

Question

I had an account with a bank and the account was closed due to being overdrawn for a long period of time. They reported me to a collection agency and from there I paid the account in full.

I assumed the bank reported me to chexsystems, but when I recently got my credit report the collection agency was NOT listed nor did it show I was in chexsystems.

So I decided to see if I could open an account at another bank and I was able to open it with no problems- (no chexsystems hit)

Any guess as to what happened, has this happened to anyone where the bank didn't report you to chexsystems as thought

Note: I got my credit report from Experian, the time period between my account being closed and the money being paid was a year and 1 week after it being paid in full to the agency I opened an account at another bank

Answer 1

ChexSystems is NOT part of your credit report, although it functions similarly to a credit report.

ChexSystems (and its competitor TeleCheck) maintain databases of checking accounts that are overdrawn and unpaid.

Most banks that subscribe to one or the other will not open an account for you if you have an outstanding issue with a bank that's reported it to ChexSystem.

If you paid that closed account in full, your adverse information would have been removed from the ChexSystem database at that time.

Answer 2

Sometimes banks or credit card companies only report their delinquent accounts to one agency. Others report to all of them or just a few. Consider yourself lucky that your bank chose not to report it to Chexsystems.

Answer 3

Banks aren't legally required to report to Chexsystems. While most do, there are some that don't. Just count yourself lucky :)

Answer 4

It probably doesn't show because you paid. That looks good to credit agencies and may not on your credit report but it is documented somewhere. Join this free site www.directmatches.com/cashkaz and get advice and support from real life, professional people.

Answer 5

i think of that as quickly as i think of of thinking, i think of that i think of its an exceedingly complicated area of think of think of approximately. i'm now thinking of thinking of ways i think of im going to think of myself out of an exploding head :S