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Can you buy a house if your on ChexSystems Even if the account is paid off?
Wiki User
∙ 15y ago
I would think you would be able to but as far as getting locked in on a good interest rate, you might run into some problems. Check with a local real estate agent to make sure what kind of mortgage programs would be available at your disposal and what would suit your needs best.
Wiki User
∙ 15y ago
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Will you be removed from ChexSystems even if the balance has not been paid off?
After five years. At least that is how long they kept me in and I paid. It makes no difference if you pay or not. You will still be in Chex systems for at least five years. The only way to get out of chexsystems is to wait the 5 years or file a dispute with either chexsystems or the bank that reported you to chexsystems. There is no guarantee for removal. Paying Chexsystems will NOT remove you. They do however have to make sure their records show that no debt is owed. Chexsystems is a CRA and must adhere to the FCRA. All information on your report MUST be accurate or deleted.
What legal actions can you take if a company that sent your account to a collection agency even though you paid in full and closed it 8 months ago?
None if it is indeed your account. However, your credit report should indicate that the account is paid and closed.
How do you get off the Chex System?
Answers: There is no guarantee for removal but since chexsystems is a CRA, everyone has the right to dispute their report with both the banks and chexsystems. The idea is to catch them in an error. Unless the info was reported in error, you can't. You can write them and ask, but if they verify the information with the bank, you will remain on their list for five years, making opening a new bank account difficult. If you pay off the bank that reported you, this info will be reported, and there will be a "paid" status on your record, but you'll still be on there for the full five years
Can your salary be paid into a bank account in a different name?
No. A person's salary can be paid only into a bank account that is held by the person to whom the salary is paid. For ex: if I work ABC company and get a monthly salary of USD $3000, the money can be credited only into a bank account that has my name as the account holder. It cannot be paid into your bank account.
Is it legal for a lender to report a negative paid account as delinquent?
No. A creditor can report a paid derogatory account as delinquent PRIOR to being paid. But if you paid it off, the correct status is "paid" (collection or charge off).
Can you open a savings account if you are on chexsystem?
Answer Most banks that use chexsystems will not allow you to open an a savings or a checking account if you have been reported. There are more credit unions that allow those reported to chexsystems to open a savings if you are eligible for membership even if your chexsystems report is stopping you from having a checking with them.There are some Nationwide banks like ING Direct that will allow anyone to open a savings account. They do not use chexsystems at all. Of course ING requires a person to link to an existing checking account. Chances are a person on ChexSystems doesn't have any kind of bank account nor can they get one. So pursuing opening an account with ING is not possible.Paying the debt owed to the reporting bank will NOT remove you from chexsystems. Many times paying off a debt that is owed to the reporting bank(s) can cause you to be reported even longer. The bank or credit union is allowed to report you 5 years from the last date that the account was paid on/or paid off.AnswerEventually it will just be easier to pay off the bank that put you on chexsystems in the first place. Often people get into trouble with overdraft fees, particularly before the 2010 laws, but they still owe the money, and there is really no way out without settling up with that bank.
Will you be removed from ChexSystems even if the balance has not been paid off?
After five years. At least that is how long they kept me in and I paid. It makes no difference if you pay or not. You will still be in Chex systems for at least five years. The only way to get out of chexsystems is to wait the 5 years or file a dispute with either chexsystems or the bank that reported you to chexsystems. There is no guarantee for removal. Paying Chexsystems will NOT remove you. They do however have to make sure their records show that no debt is owed. Chexsystems is a CRA and must adhere to the FCRA. All information on your report MUST be accurate or deleted.
The bank closed my checking account for excessive returned checks in the past year. They returned excess money to me after freezing the account and closing it. No money is owed. Can they report?
Yes, the bank can report this to ChexSystems. They will show that they had to close your account. Hopefully they will not put account abuse or fraud on your account because this will make it hard to open a new bank account. I recommend contacting them and asking them not to report you to ChexSystems, and get something in writing saying that your account is paid off. That way, if they report you, you can show you have paid it off, and a bank might open an account for you if they happen to still report you and you can show proof it's paid off.
Can I close my bank account if you still owe money?
When you become past due on a credit card or default on a loan, the creditor reports the information to one of three credit agencies (Equifax, Experian or Transunion). When you charge-off a checking account, your bank may report the information to a different agency; this agency is called ChexSystems. Most banks participate in ChexSystems service, by running consumer reports to qualify applicants, as well as reported delinquent accounts. If you owe another bank money and want to open a new bank account, you'll have to be resourceful.Instructions1 Order your ChexSystems consumer report. You are entitled to a free copy annually; visit the ChexSystems website to make your request.2 Receive your free report by mail in seven to 10 business days. Examine the report to determine if the delinquent account is listed; if it's not, you have nothing to worry about; you can open a bank account anywhere.3 Pay off the delinquent account, if possible. It won't remove the delinquent account from ChexSystems, however, it will change the status to paid, which may help you open a new bank account.4 Visit the bank where you want to open an account. Meet with a personal banker to discuss your options. Explain your situation and furnish proof the old account is paid, if possible.5 Apply online for a bank account. Most banks allow you pre-qualify for checking accounts on their website. This will avoid any potential face-to-face embarrassment.6 Consider a credit union, rather than a bank. While most banks use ChexSystems, many credit unions do not. A credit union checking account may offer the same conveniences as a bank checking account.
Would any banks open a checking account even though you are on chex systems but the money was paid?
Yes, some banks may still be willing to open a checking account for individuals who are on ChexSystems but have cleared their outstanding balances. However, this largely depends on the specific policies and discretion of each individual bank. It is advisable to contact different banks and inquire about their specific requirements for opening an account in such circumstances.
What legal actions can you take if a company that sent your account to a collection agency even though you paid in full and closed it 8 months ago?
None if it is indeed your account. However, your credit report should indicate that the account is paid and closed.
Do you have to pay for making an account on app store?
No, but buying Paid apps cost money. Making the account is free
How do you get off the Chex System?
Answers: There is no guarantee for removal but since chexsystems is a CRA, everyone has the right to dispute their report with both the banks and chexsystems. The idea is to catch them in an error. Unless the info was reported in error, you can't. You can write them and ask, but if they verify the information with the bank, you will remain on their list for five years, making opening a new bank account difficult. If you pay off the bank that reported you, this info will be reported, and there will be a "paid" status on your record, but you'll still be on there for the full five years
When a customers account is paid the customers account is?
"credited".
If you are moving to a new state and have two past closed accounts one of which is owing will you be able to open an account in the new state?
Highly UnlikelyBecause of the Patriot Act, banks and credit unions use your SSN#, ID and the ChexSystems reporting to identify you as a person. The likelihood of finding a non-CS bank or credit union is very slim in this day and age. My suggestion would be to pay off the owed balance. Most banks will try to work with you if they see the amount owed was paid off. You may not get a debit or ATM card, but at least you can have a checking account or savings account with some banks.. depending on the severity of what was reported.Yes you would be able to open an account. There are banks and credit unions that do not use chexsystems. Your options depend on where you live.
Can your salary be paid into a bank account in a different name?
No. A person's salary can be paid only into a bank account that is held by the person to whom the salary is paid. For ex: if I work ABC company and get a monthly salary of USD $3000, the money can be credited only into a bank account that has my name as the account holder. It cannot be paid into your bank account.
What is the normal balance of a additional paid-in capital account?
Additional Paid-in Capital is a normal credit balance account.
