ChexSystems Report
What You Need to Know About Your ChexSystems Reports
Second Chance Checking |
ChexSystems Reports
To understand ChexSystems reports, you first need to
understand who ChexSystems is and what they
do. As we reported here, ChexSystems is a
company that collects and reports data on your banking history. They are a
consumer reporting agency like Equifax or Trans Unions, but they do not
affect your credit score unless your unpaid nsf fees or bad checks go
unpaid and are reported to collections. This may change in the future, but
for now they are separate.
Now that you have an understanding of ChexSystems and
what they do, we will talk about your ChexSystems report.
Your ChexSystems report is made up of your banking
history and lists any negative information such as bad checks, atm fraud,
savings fraud, etc. Fortunately most consumers are listed for relatively
minor reasons and have nothing to do with fraud. Unfortunately, no matter
how minor the action your listed for 5 years per infraction. So as you can
see, once your listed your on there for a while, unless you have been
listed by a reporting error or you can successfully get your information
cleared through performing ChexSystems removal steps.
If you have recently been denied an account, it is more
than likely due to a negative ChexSystems report and you need to take a
look at your report and find out what is being said and make sure it is
completely accurate.
You can get a free copy of your ChexSystems report by
clicking here or by using the ChexSystems contact information below
Mail: Chex Systems, Inc.
Attn: Consumer Relations
7805 Hudson Road, Suite 100
Woodbury, MN 55125
Fax: 602.659.2197
Telephone: 800.428.9623
One thing you should know is that since ChexSystems is
considered a credit reporting agency, they have to abide by the FCRA and
other federal and state credit laws. Make sure you are fully aware of your
rights when dealing with them and do not give up any un-needed information
such as your employment information or drivers license number, they do not
need this information and will only use it against you.
© 2011 Second Chance Checking Banks
Blog | Disclaimer |
Privacy Policy | Contact Us | Site Map
Unsecured Credit Cards | Bad Credit Checking
| Unsecured Credit Card for Bad Credit
|
