There is a heading that says: Reported Information (refers to reports of accounts that have been mishandled, reported for cause, and/or outstanding debts. Reported information is submitted directly to ChexSystems by members of our service which consists mainly of financial institutions.)
I have two listings under this heading, both of them banks. Both were reported for Non-sufficient funds (NSF) activity.
The first was reported 8-20-2008 for $997.10, closure status as PAID IN FULL/SETTLED IN FULL with a closure date of 10/23/2008.
The second has a reported date of 8-8-2008 for $536.96, closure status as PAID IN FULL/SETTLED IN FULL with a closure date of 10/23/2008.
The rest of the items in my report are "Inquiries Initiated by Consumer Action", such as when I tried to open bank accounts, as well as Teletrack inquiries.
My question is this: since both of these accounts have been paid, almost three years ago, would it do me any good to contact the banks and see if they will remove me from the system? Or should I just wait it out two years and start clean. Will the TeleTrack inquiries hurt me as well?
By signing up a debt counseling session, your provided details (Name, Email ID and Phone No.) will be forwarded to the company advertising on the DebtCC. However, you have no obligation to use their services.
Some creditors and collection agencies refuse to lower the payoff amount, interest rate, and fees owed by the consumer.
Creditors/collection agencies can make collection calls and file lawsuits against the consumers represented by the debt relief companies.
Debt relief services may have a negative impact on the consumer's creditworthiness and his overall debt amount may increase due to the accumulation of extra fees.
The amount which the consumer saves with the use of debt relief services can be regarded as taxable income.