CHEX SYSTEMS

click here and check out the banking/chexsystems forum that MCA maintains

Chexsystems I believe reports for 5 years, but if they are reporting on your actual credit bureau report, things might be different. MCA should see this soon and post to help answer your questions. In the meantime you might find the answer on the above forum I linked.

Either way.. the 5 or 7 years is up if it's 2002. I would dispute it. Paying it could bring it current, and could stay on your report for an additional 5 years.

Can someone clarify this, as i hear mixed things. If you have had something on Chexsystems for 4 years and then pay it off, are you saying the clock starts again? that does not seem very fair

If Payment is made to a debt that has been reported to chexsystems, can the 5 year period start all over?

The most common bank to update entries is WAMU. So yes it does happen, but it is not a common practice. Legally they could. But, I have found their practice is to adhere somewhat to their 5 year range. You don't see many banks updating entries to extend the reporting period once you pay. ***I have seen collection agencies update reporting on the big three credit bureaus if the debtor begins making account payments. It gives them more leverage to make the consumer continue to pay.

And once if falls off, if they would choose to pay it at that time, would it be updated and possible be able to be added back to the report?

If there are payments and activity after the 5 year period expires, it does not matter. It must fall off.