Disputing Your ChexSystems Report
As you may already know, ChexSystems is regulated by the Fair Credit Reporting Act (FCRA); the same laws that govern the 3 major credit bureaus: Equifax, Experian, and TransUnion. Like your credit report, your ChexSystems report must also contain correct and verifiable information. If your ChexSystems report is accurate and contains no flaws, there isn't much you can do. Only the passage of time, can ensure the removal of your name from ChexSystems, unless the reporting bank requests for the removal of your name. On the other hand, if your report does contain errors, you may file a dispute directly with ChexSystems.
Follow these steps to dispute your ChexSystems report:
- Order a free copy of your ChexSystems report, online or offline. Look over your report, and make notes of all incorrect information.
- Type up your dispute letter. (Remember to keep a copy for yourself)
Sample Dispute Letter to ChexSystems:
December 25, 2005
Attn: Consumer Relations
7805 Hudson Road, Suite 100
Woodbury, MN 55125
To Whom It May Concern:
I was recently denied a bank account based on the information that ChexSystems maintains under my name and Social Security Number. Upon ordering a copy of my ChexSystems report, I noticed the following entry reported by Wells Fargo Bank:
Source of Information: Wells Fargo Bank - Los Angeles, CA
Reported Name: John Smith
Reported Address: 123 ABC Street, CA 54321
Reported SSN/ID: ???-??-????
Drivers License: ?????????
RTN: ????????? Account #: ?????????
Date Reported: 01/01/2005
Reported For: Non-Sufficient Funds (NSF) Activity
Original Charge Off Amount: $150.00
I have no knowledge of such an account, and it may have been reported due to error or identity theft.
Please validate this information with Wells Fargo Bank and provide me with copies of any documentation associated with this bank account bearing my signature. In the absence of any such documentation bearing my signature, I ask that this information be immediately deleted from the file you maintain under my name and Social Security Number.
Here is my contact information:
Consumer ID: ?????????
- Mail out your dispute letter via certified postal mail. Certifying your mail is vital to disputing any
ChexSystems or credit report because it keeps a documented paper-trail of important dates. ChexSystems
is allowed 30 days to respond to your dispute letter from the date they receive it. If you do not receive a
response within that allotted time period, ChexSystems is under grounds to remove your record altogether.
(Remember to keep all receipts from the post office)
- If ChexSystems responds, and they claim to have correct and verifiable information about you, you can
respond with another dispute letter. In the letter, ask them about the procedures involved in obtaining your
personal information. Also, request the name, title, and phone number of the person they contacted in order
to verify your information. By law, they must disclose this information to you. Afterall, you do have the right to know who reported you, and under what conditions.
- If the response comes back with all the information you've requested, verify the information yourself. Make sure everything checks out with the source of the information. Ask them for documented evidence that bears your signature. You may be able to prove your innocence if there are signs of foul play or identity theft.
If ChexSystems responds with no disclosed information, you may have to take matters to a higher authority. You can file a complaint with the Federal Trade Commission (FTC) by using this form.