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Listings can range from minuscule (cents) all the way up to incredibly large amounts, and typically most people have never even heard of ChexSystems until they end up in that database. Banks report their account holders to ChexSystems for any number of reasons (some fair and some not so fair) and they are ultimately the ones who decide if you stay on the list or not. Reasons for being listed in ChexSystems include but are not limited to: Overdrafts on accounts that are not repaid in a timely fashion Misuse of banking cards Misrepresention at time of bank account application Once a person has been listed in ChexSystems there are very few opportunities for removal. The process to get negative entries removed is almost always arduous and time consuming. And unfortunately, over 80% of US banks utilize the ChexSystems database to verify new accounts, so if you're listed...getting another checking account is next to impossible. The methods for getting your entry removed from ChexSystems are as follows: Wait 5 years from the date of report and the entry will automatically fall off Dispute the entry. ChexSystems acts as a Credit Bureau and if you have been falsely listed you have the legal right to dispute the entry Call the bank that reported you and get someone there to “stop reporting” you While you can get removed from the database, it is rarely easy for anyone. And of course if you are listed, you have little opportunity to obtain a checking account, so you'll have to survive without one. That is...unless you know of Non ChexSystems Banks. They are incredibly hard to locate for even the most resourceful of researchers...but they do exists and can be found if you know exactly where to look. There is only one resource I've found which does offer real value. "You Deserve A Checking Account" is real, and is a safe haven for those that have been blackballed by ChexSystems. Far too many of the other sites out there are designed only to take your money, and offer little in return. In closing, most individuals that find themselves in the ChexSystems database have a few different options for getting themselves “de-listed”. Due to the amount of time this typically takes, it makes sense to locate Non ChexSystems Banks and establish checking privileges there, at least until your record is cleared. Article Source: http://www.articlewheel.com
John Hostler, and his company Internet Renegade, Inc are consumer advocates teaching people how to better themselves financially. You can learn more about getting a checking account by visiting www.youdeserveacheckingaccount.com
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