Chexsystems - when will they go?

Many times paying off the reporting bank can cause you to be reported for a longer period of time than you would have been if you had not paid the debt owed. For example: a report that is from 2006 will be removed in 2011. If it is paid the bank can choose to report it 5 years from the date last paid. So for example a debt on a report from 2006 is paid in 2010, the report would not be removed until 2015.

This is why I sometimes suggest NOT to pay the debt owed to the reporting bank(s) especially on accounts that are older ones. -Chexsystems does remove you after 5 yrs automatically. Yes even if a balance is owed, they will still remove you after the 5 year mark. Again as long as payment on the debt has not been made. Some banks may allow removal even if payment has been made but there is no guarantee unless you get something in writing.

Most of what the last post was true except for the fact that chexsystems does not reage debts like credit reports does.I ask this question to chexsystems myself. If you decide to pay off the debt,it does not get reaged for another 5 years it stays on for the remaining time left till the 5 years has ended.Thats why i am willing to pay chexsystems rather then cleaning up my credit reports.Payments on chexsystems does not impact your 5 year status in any way and can not be put on there any longer than 5 years, or can they readd you for another 5 years.5 years is the max that chexsystems can report you weither or not you pay off that debt.

Thank you so much this info was so helpful questions is after the 5 year mark am i to contact Chex Systems to inquire that my account is removed. Also if anyone has any helpful info to what banks would be best for me to apply for lines of credit to help re establish credit 

Thank you so much this info was so helpful questions is after the 5 year mark am i to contact Chex Systems to inquire that my account is removed. Also if anyone has any helpful info to what banks would be best for me to apply for lines of credit to help re establish credit