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Settling on closed bank accounts


Wannabedebtfree
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If its a bank checking account that was overdrawn and written off and then placed on Telecheck and the Bank is Wells Fargo don't waste your time. they won't remove the Telecheck entry for love nor money, literally.

Anymore specifics on the type of account you've got here?

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Funny thing about banks. They lose information. I wrote a bank that was closed in 1996 after having a checking account with them for 23 years. Of course, the original bank was bought by another bigger bank sometime in 2000. I gave them the correct account number and routing, and they have no record I ever had an account with the bank! I guess I just don't exist. I'm sure that someone with a brain could find the account files, but that will not happen too soon.

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ok, since this is overdraft, I would say no. That is charges specifically applied for overdrafts. I have never seen a bank nego. on anything like that. I'm not in a area where any banks report checking/savings accounts to the CRA's either..

My first reponse would be.. why pay it off?? (unless the obvious - its on your CR). Banks literally steal our money from us as it is, with charges for everything from deposits, tellers, conversations, overdrafts and research...it just drives me up the wall!

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Listen up! I removed a derog from ChexSystems from B of A that was haunting me for over 3 years.

Banks that get gobbled up usually assign new account numbers for their customers and allow 6-12 months transition time for any outstanding checks on the old account number. Most checks become stale after 6 months unless otherwise stated and will not be honored after the written date on the check.

For ChexSystems, it's a bitch because they will only remove on the subscriber's (Bank) order. You will get the run-around unless you do it this way. My method described here worked because the account was from 1996 and it was legit and I don't believe the bank had any record showing NSF activity, which there wasn't any to begin with.

This process will have the item off in about 60 days. Less if you FAX!

Send them this letter, stating the following:

---------------------------------------------------------------------------

ChexSystems

Customer Relations

12005 Ford Road Suite 600

Dallas, TX 75234

RE: [TAB]Consumer ID 1234567890, IronMan [TAB]SSN# 987-65-4321

To Whom It May Concern:

My bank has informed me that there is negative information reported by Bank Of America – California, Cerritos, CA in the file ChexSystems maintains under my Social Security number. Upon ordering a copy of the report, I see an entry from this bank listing “Non-Sufficient Funds (NSF) Activity” in December 1997.

I do not recall having any NSF activity or using a Bank of America account to write checks or deposit funds in December 1997. In fact, I held an American Savings Bank account upon which I used to write checks and make deposits to in December 1997.

Bank of America has been unhelpful at both the branch and headquarters level to rectify this matter.

Please validate this information with Bank of America-California and provide me with copies of any documentation associated with this bank account bearing my signature. In the absence of any such documentation bearing my signature I ask that this information be immediately deleted from the file you maintain under my Social Security number as required under the Fair Credit Reporting Act.

My contact information is as follows: [TAB]

Ironman - 1234 Somecity - Somestate - Zip FAX#: (xxx) xxx-xxxx

Sincerely,

IronMan

-------------------------------------------------------------------------

You'll get a response by mail in 5 days after they receive it to let you know they are working it.

In about 15-20 days you'll get results....without the requested documentation in paragraph 4.

Now send this one:

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December 15, 2002

ChexSystems

Customer Relations

12005 Ford Road Suite 600

Dallas, TX 75234

RE: [TAB]Consumer ID 1234567890, IronMan [TAB]SSN# 987-65-4321

Dear Sir or Madam:

After a re-investigation into the item reported from Bank of America-California, you have failed to provide me with the requested documents that contain my signature or ANY empirical evidence to show that I, in fact, am responsible for this item and the activity which you are reporting. Copies of documentation and communication from Bank of America was supposed to be provided by you upon completion of this re-investigation. You have failed to provide that documentation which is supposed to support reporting of the item.

Therefore, you will have 10 days to remove this item or I will initiate civil action under the FCRA section 809(B) in the Southwest District of the Superior Court of Los Angeles County, in the state of California. Your response are not valid as the language of the FCRA dictates and this item has caused me delay in opening a new business venture for over 3 months.

I will no longer tolerate the indifference and failure to provide adequate evidence to validate this reported item. For quicker and reliable response, I will accept faxed documents. Please fax a PROPER response (as REQUIRED by the FCRA), to this letter or the supporting documentation in your possession to (xxx) xxx-xxxx. Postal mail address is 1234 Somestreet - Somecity - State - Zip.

This will be my final removal request. It will be assumed that no response will mean a desire to pursue litigation. Any court or attorney fees incurred upon filing due your non-response will be sought through the court irregardless of your response after such filing. You, and the subscriber reporting this inaccurate and unvalidated item have had well beyond the statutory time to act properly within the guidelines of the FCRA.

Respectfully,

IronMan

--------------------------------------------------------------------------

There are other credit statutes that are more powerful in California, but I didn't use them in this instance.

This finally lit the fire under their asses!! I had initiated a telephone re-investigation in Novemeber after they "verified" the item from my October letter too, so I don't know if that helped.

I faxed this last one on Dec 16, the item was deleted on Dec 20, and updated report in my mailbox on Dec 22.

This leads me to believe that they don't actually do a damn thing to verify anything. All they do is probably wait and match your name, DOB, address, and other identity, say it's verified, and don't even contact the damn creditor / reporting party. I wonder if this goes on more than we know.

GOOD LUCK!

[Edit by IronMan on Wednesday, January 15, 2003 @ 03:43 PM]

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