ChexSystems Disputes
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5 Stages of Disputing

There are five stages to disputing:

1. Gather the facts and send the initial dispute letter.
2.  If the information is not removed, send a procedural request.
3.  If the procedural request does not result in removal, dispute with the original creditor.
4.  Send the ITS - Intent to Sue Letter
5.  File complaints with the bank regulator, the state attorney general - and consider legal remedies.

Step 4 is allowed under FACTA [Amendments to the FCRA].  You can dispute directly with the original creditor if the credit reporting agency does not resolve the situation.  The original creditor must investigate and respond within 30 days.

The "procedural request"

This is where Chexsystems must show how they "verified" the information with the bank

NOTE: Neither the FCRA or FACTA require them to produce documents as proof.  However, they must indicate how they verified.

If it has been 15 days, send the Intent to Sue letter to a Chexsystems executive
[I like to send to their legal counsel] for their FCRA violation.  Send a certified RRR dispute letter to a bank executive, indicating they are in violation of the FCRA for verifying inaccurate information with Chexsystems.

***** It is VERY IMPORTANT that you send everything certified mail and make sure you keep copies of everything sent *****

ChexSystems Dispute

Step1.  INITIAL DISPUTE LETTER

Chexsystems has 30 days from the date they sign for the letter to
respond. 

NOTE: If you got your report by requesting a free annual report, then
the law extends the dispute notification period to 45 days. 


After getting your letter they must:

1) Confirm that they contacted someone to verify the information. 
-The disputed information then stays in your report. 


2) Confirm that they could not verify the information. 
-The information is deleted from your report. 
-You receive an updated report (minus the disputed info). 

Step2.  NO RESPONSE TO DISPUTE LETTER
-You Send a Demand for Removal letter because they did not respond. 
-No response means they did not confirm.  Therefore, the information
must be removed. 

**3.  DISPUTED INFORMATION NOT DELETED
-You send a Procedural Request letter.  If they say they confirmed the
information, the law gives you the right to then verify how they
confirmed.  They must send the Address, and Telephone Number of the
individual or business they contacted within 15 days, so that you can
confirm it. 

**4.  LEGAL ACTION
-Before pursuing legal action, you have to build a "case".  You should
be able to prove there was an error, you notified them, - but they did
not correct it.  You want to also show their failure to remedy the
situation has harmed you financially (unable to open an account,
etc.). 

-If you applied for an account and were declined based on the
information that provides additional documentation.  Fines are
outlined in the Fair Credit Reporting Act.  Most state law conforms to
the FCRA, but there may be a state law where you live that outlines
specific remedies. 


What if the Consumer Reporting Agency Stands by Its Report?

1.You have the right to present your side of the story in a brief statement (100 words

or less), which the credit bureau must attach to your credit file. Your statement should

be used to clarify inaccuracies, not explain reasons for delinquency. Anyone requesting
 
a copy of your credit report would also automatically receive your statement (or a
 
summary of it), unless the credit bureau decides that it is irrelevant or frivolous.

2.WHEN YOU MAKE A COMPLAINT TO THE OCC...GENERALLY THIS WILL GET

THE BANKS ATTENTION VERY FAST !!! THEY DO NOT LIKE COMPLAINTS

FROM THE OCC.


The OCC's Customer Assistance Group is ready to help customers of national
 
banks with questions or complaints they have about their financial institution. 

call: 1-800-613-6743.


If You Have a Problem With a National Bank or its Operating Subsidiary


The OCC Customer Assistance Group was created to answer questions, offer
 
guidance,and assist consumers in resolving complaints about national banks
 
and the subsidiaries.


The first step is to try to resolve a complaint directly with your bank or its
 
operating subsidiary before involving an outside agency. If you are unable to
 
do so or are uncertain about whether your complaint involves an organization
 
that the OCC supervises and regulates, the OCC Customer Assistance Group
 
will try to assist you.

General inquiries about banking laws or practices often can be answered on
 
the phone or through email by a Customer Assistance Specialist. The
 
specialist may all be able to suggest other ways for you to try to resolve your
 
problem directly with the bank or its subsidiary.



ONLINE complaint form


3. File a Complaint with FTC


 

GO HERE for ONLINE complaint form

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