Anyone know how long your name stays in Chexsystems

[Bluvsu2]

Yes I am in there too. Man I really was a mess a few years ago. Do you know how long you stay in Chexsystems.

 

Sorry for all the postings. I have some downtime as I nurse my sick 21 year old back to health. Poor kid had his wisdom teeth pulled yesterday.

[newdirt.org]

This is what I found:

Each report submitted to ChexSystems remains on our files for five years, unless the source of the information requests its removal or ChexSystems becomes obligated to remove it under applicable law.

[Bluvsu2]

thank you

[fontanaman]

I’m not familiar with Chexsystems. What exactly is it Bluvsu2?

[Bluvsu2]

Chexsystems is when you go bad on a bank account or write a bad check to a store. They put it on their system and it stops other stores from taking your check and also won’t let you open a bank account.

[fontanaman]

Makes sense.

Is this system used by all banks? I mean, could you be in a situation where you can’t get a checking account anywhere? Not to mention a credit card…tough spot to be in.

[Bluvsu2]

I have a bank account. I also have a credit card. This is from MANY moons ago. I don’t remember but I think the SOL is almost up. Just want if off my credit report. It is NOT used by the credit card companies. But I know it is used by many banks/credit unions here.

I am not worried about getting a bank account as I have 3.

[fontanaman]

Well that’s good 🙂

I wonder though if there are people in a situation like that, not being able to get either a checking account or a credit card…

So, Chexsystems can show on your report as well or is it the bank account that went to collections?

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