How to Dispute ChexSystems on a Credit Report

ChexSystems is composed of a group of banks that supply each other with information relating to its accounts holders, such as how often a customer's account has nonsufficient funds, as well as whether a bank account was closed involuntarily. There are instances where errors are made regarding accounts and this is when a dispute is required to erase an item from ChexSystems, as well as your credit report.

Instructions

1

Request a copy of your ChexSystems report if you don't already have one (see Reference 2). The fastest way to get your own ChexSystems report is to visit the consumerdebit.com website and make a request by clicking on the Facta Free Report tab and following the instructions. The report usually will arrive by mail within five business days.

2

Request a free copy of your personal credit report at annualcreditreport.com. Each person is allowed one free credit report per year from all three of the major credit bureaus (Equifax, Experian, Trans-Union).

3

Review your reports. Look for obvious errors such as incorrect addresses, closed bank accounts that were paid, yet still show as overdrawn, and other errors that can be rectified with a bit of patience. On your credit report, the accounts may show as charged off. ChexSystems is not a credit reporting agency, although it does act as a collection agency. Due to this, your ChexSystems accounts will most likely show up as collection accounts on your personal credit report.

4

Locate the accounts to dispute on both your personal credit report and your ChexSystems report. Though the accounts may not have the same account numbers, the accounts will have the same bank name or collection account name. Be sure to verify the amount in question. An account with Bank of America on your credit report may show as an owed balance of $100 while your ChexSystems report could show as $120. This is usually caused by collection fees that were added after ChexSystems began collection on your account.

5

Go to ChexSystems to print a copy of your ChexSystems dispute form (see Reference 3). Fill out the form completely and mail it to the address as shown on the form. Be sure to dispute the same items on your personal credit report by filing an online dispute at each of the credit reporting agencies that show the erroneous accounts. Filing a dispute with the credit agency can be completed by simply locating the report number on the top of your credit report page. This number can be used to file an online dispute at whichever reporting agency issued your report.

6

Allow both entities (credit reporting agencies and ChexSystems) to review your disputes. A response is issued either online or by mail within 30 days.