If you are on the ChexSystems make sure you understand your rights under various laws and statutes, particularly the Fair Credit Reporting Act. The most important thing to remember is:

Being on ChexSystems is not the end of the World

The Fair Credit Reporting Act is designed to promote accuracy and privacy of the information contained in consumer credit reports. It is also designed to control how credit reports are used to ensure the files of consumer reporting agencies are complete and correct and.  Under the Fair Credit Reporting Act you have the right to review your credit report and make sure any inaccurate information is corrected.  Although ChexSystems believes they are law to themselves, The Fair Credit Reporting Act applies to ChexSystems as well. So yes, you do have the right to make sure your ChexSystems Report is accurate.

This is a summary of your rights under the Fair Credit Reporting Act.  If you experience problems with ChexSystems, it is important that you understand that you have these rights.  If you want to learn how the Fair Credit Reporting Act can help you get removed from ChexSystems, visit http://www.getoffchex.com.

1. Issuing Credit Reports

Most people do not realize that credit bureaus, are required to help you understand your credit report. Because ChexSystems is a credit bureau it also has this responsibility. Credit reports can only be issued to entities that have a legitimate business reason for pulling your report. These may include employers, creditors, landlords, government agencies, insurers, reviewing your status for benefit purposes, or any other legitimate third party.

2. ChexSystems Errors

If you find an inaccuracy on your ChexSystems report, it is important that you should notify ChexSystems immediately. As identified in the removal from ChexSystems article, ChexSystems is responsible for changing or removing any incorrect data based on any investigation they have carried out at your request. It is therefore the responsibility of the source of the error must to notify all of the credit bureaus where they sent information. If this is not carried out to your satisfaction, you have the right to add a statement on your ChexSystems report. You should make sure that this statement is e a clarification, not an explanation. You want to make sure if anyone sees your report it shows you in a good light.

3. Denied Credit

If any bank account application you have made is declined because of an error on your ChexSystems report, the bank is legally obliged to give you the name and address of the credit bureau that issued the report. It is likely that ChexSystems will likely be listed as the bureau if you were denied a checking account. You then have 30 days to request a free copy from ChexSystems. Bear in mind that it is the responsibility of ChexSystems to disclose all pf the information in the report to you. This includes its source, and also who has received the report recently.

You also have the legal right to instruct ChexSystems to re-issue any corrected reports to any of the banks that received any reports within the last six months. You can also instruct them to send the corrected reports to any employer or other third party who received a report in the past two years.

4. Disclosure

Credit Bureaus must provide you with access to the your credit report, including information as to those who recently requested the information. There will be a charge for each report, except in the case where you have been denied a bank account or credit.

You are entitled to one free credit report per year if you are prepared to certify that: (1) you are unemployed and commit to look for a job, (2) you are on social welfare , or (3) due to fraud your report is inaccurate.

5. Limiting Access

Sometimes, you may want request credit bureaus not to distribute your name on any lists used by creditors and insurers to make random offers. These requests can be made by filling out a form available from each bureau. You can also make telephone requests by, calling (888) 5 OPT OUT. his will get you excluded from the main agencies, including Experian, Trans Union and Equifax. You should note that telephone requests will only last two years whereas written requests will be permanent. 

As a final note consumers do have a right to sue agencies (such as ChexSystems) in federal and State court for any breaches of the Fair Credit Reporting Act.

If you follow these dispute rights you will be well on your way to being removed from ChexSystems and being able to secure a second chance checking account 

Click Here To Apply for our Recommended 2nd Chance Checking Account