How To Dispute A ChexSystems Report
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How To Dispute A ChexSystems Report
Before we even get into the actual subject, we want to make something very clear: we are NOT suggesting that you dispute any information on your Chexsystems report just for the sake of disputing. As soon as you start doing a bit of research, you quickly find out that Chexsystems is required to abide by the same rule the credit reporting bureaus do. As such, you are allowed to dispute any information that you see on your report, and Chexsystems has 30 days to prove the accuracy of the disputed item(s). Anything that can’t be proven must be deleted because the burden of proof rests on the bureaus.
What a lot of websites suggest is that you dispute everything on your report and just hope that some items can’t be proven. This doesn’t qualify as a strategy. In fact when you think about it, it’s downright dishonest. What we are suggesting is that you review your Chexsystems report to spot mistakes. If you do, then we’re happy to provide you with how to go about getting them corrected.
Order your report
To get your Chexsystems report, the simplest way is to go to the company’s website, and go to the tab, “Order Consumer Report.” Once you place your request, they’ll mail you a copy of your report in five business days (here’s a sample Chexsystems report, so you know what to expect). Go over it carefully. If there’s anything more than five years old, it shouldn’t be on there (your information shouldn’t stay on your Chexsystems report for more than five years). Make sure any account that’s paid in full is marked paid, and that all the bank account numbers, dates and amounts are right.
Related: Can I open a bank account if I owe another bank money?
List all the inaccuracies
Inform ChexSystems, in writing, of what information you feel is inaccurate. Include copies of the documentations verifying the credibility of your claim. In addition to your name and address, your letter should clearly, and in detail, itemize each inaccuracy, explaining why you are disputing the information and requesting that it be removed or corrected. You may want to include a copy of your report with the items in question circled or highlighted. ChexSystems contact information and a sample dispute letter are included at the bottom of this article.
You also have the right to request contact information for any company that appears on your report, if not already listed, and Chexsystems is required to provide it. Ask Chexsystems for the contact information and dispute the item with them if you believe it’s inaccurate or need more information.
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 Consumer Financial Protection Bureau.
Sending Your Dispute Letter
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, as well as copies of your dispute letter and enclosures for documentation purposes).
Chexsystems contact information is as follows:
ChexSystems Consumer Relations
7805 Hudson Road
Suite 100
Woodbury, MN 55125
Ph: (800) 428-9623, (800) 513-7125
Sample dispute letter
[DATE]
ChexSystems, Inc.
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: xxx-xx-xxxx
Drivers License: xxxxxxxxx
State: CA
RTN: xxxxxxxxx Account #: xxxxxxxxx
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:
Your Name
SSN: xxx-xx-xxxx
Consumer ID: xxxxxxxxx
Your Address
Sincerely,
Your Name