Find out if you are on the list by reading How to See if You Are on ChexSystems List. To order the report, visit: https://www. consumerdebit. com/consumerinfo/us/en/chexsystems/report/index. htm You will need to provide personal information to obtain the report. Once you do, your report will be mailed to you within five business days.
To dispute the error, visit the following link: https://www. consumerdebit. com/consumerinfo/us/en/chexsystems/disputes. htm You will need to fill out the “Request for Consumer Reinvestigation Form” (which can be found on the website), and mail it to the address indicated. On this form you will indicate the account in question, the date, and a brief description indicating the nature of the problem. You will receive notice of the investigation results within 30 business days.
For example, if you noticed a bounced check on your form, but that check bounce was an accident, or if there is an overdraft that was accidental or a one-time occurrence, you can explain this to ChexSystems. Also, if you owe money to the bank and it listed on your ChexSystems report, but you have paid it, you can indicate this to ChexSystems in your statement and have it removed. Remember to be professional and businesslike in your statement. This statement will likely be seen by banks in the future, and you need calmly and factually state why you believe the information on the report is unfair and poorly represents you as a banking user. Do not include profanity, or the names of other businesses or people.
If the owed amount is large and is outside of your current means to pay, contact your creditor. Creditors are extremely negotiable, and are often willing to accept a smaller amount back, rather than no amount at all. If you owe $1,000 and are only able to pay $700, contact your creditors and say you would like to make yourself right with the bank, and are able to pay $700.
Many major banks do not have second chance checking accounts (although some do), but there are plenty of credit unions and community banks that do. If you are looking for institutions in your region that offer second chance checking accounts, NerdWallet. com offers an exhaustive list of providers by state. You can locate the list at: http://www. nerdwallet. com/blog/checking/second-chance-checking/
If there is, contact them and inquire about what banking products and resources are available in your region to help you get a checking account. A local BankOn program will likely have innovative and local solutions to help you regain access to an account.
Not all states offer this program. Search on Google for “CheckWi$e” plus the name of your state to see what’s available. If you don’t have any luck, contact your local municipality, BankOn program, or even financial institution to learn if there are similar programs available.
If you present yourself, in person, as someone who is decent, with an honest reason for your past performance and evidence that you’re not liable to be a problem in the future, they’ll be much more receptive to working with you. Make sure to clearly explain why you have had financial issues with previous checking accounts, what steps you have taken to rectify those issues, and why those issues are unlikely to happen in the future. If you went through a bout of unemployment for example, indicate this. Also indicate if you have taken any actions to pay back previously owed bank debt.
Monitor your accounts frequently. If you see your account balance approaching zero it is important to reduce spending you can easily control. If you have essential bills coming due, consider using your credit card or line of credit so your account does not go into overdraft. It is very important to note that using credit to pay bills should only be done in emergency situations. If you regularly are running out of money in your checking account and needing to rely on credit, it means that your expenses are exceeding your income. If this is the case, it is absolutely essential that you look at options to increase your income (if possible), and if not, that you reduce your expenses so they are equal to or less than your income.
Consider opening two checking accounts. One for your day-today transactions,and another specifically for check writing. When you need to write a check, transfer the amount into the checking-only account, and do not touch the money at all costs until the recipient cashes the check. Only write checks for amounts that you either currently have, or that you are 100% certain you will have. If you are writing a $100 check, and know you are getting paid $500 in the next week, do not write the check unless you are absolutely certain you can afford to use $100 of that $500 to cover the check.
Look for budgeting software like Mint. Mint, as just one example, allows you to sync your bank accounts with the software, and can closely track your expenses each month to ensure you stay within your income. When you create a budget, you will often need to reduce your expenses. When doing this, it is helpful to think of what you want versus what you need. Reducing wants can be an excellent way to find savings. For example, a cable package may be a want, but it is likely not a need especially if you already have internet. As another example, eating is certainly a need, but eating out once a week is a want and can likely be reduced to once a month (or even less frequently depending on your particular situation).
