How long does an unpaid debt last on check system?

sorry that was me. I thought I was logged in

Good luck

Chexsystems is also subject to the FCRA. This means that in most cases they cannot report negative info over 7 years or bankruptcies that are over 10 years old.

FYI this is from Chexsystems paperwork. I just ordered a copy of my report.

I would think that you would want to pay it off to get rid of it, it will haunt you for a long time to come. YOu should consider paying it and moving on with your life.

crystal17,

Just approach this the way you would nayother type of debt. Make a payment arangemt with the bank and keep to it. Just out of curiosity, how old is this debt?

When my ex and I were together, we had the same Checking Account. To make a long story short, he bounced ALOT of checks (I never knew about this until the bank called me). The bank reported the negative account to Chexsystems. When we seperated, I paid off the account, closed it and opened another in my name ONLY. The bank was VERY helpful with this. They took MY name off of CS and left my ex's name on it. NOW......it's a mess for him ( 'LIKE' I really care!!).

It will always be alive just after a certain period of myears you are protected byt the SOL in your state. What state are you from/ This will help us tell you if your in SOL time period. (Statute of Limitations). Most debt falls off a person credit report in 7 unless it is a judgement or bankruptsy. Give a little more info and we can answer your question better.

Hi John Bond
Since the last payment on your debt has been made in 1999, the Statute of Limitation on the debt may or may not have expired. This is because, the SOL varies from 3 years to 15 years depending upon the state you signed the loan agreement. However, the negative listing should go out of your credit report after seven years and six months, from the date you first missed your payment. I think you should directly dispute the listing with the credit bureaus and ask them to remove the listing.

Hi John
Although the negative listing stays on your report for seven years and 180 days from the date you first missed your payment as Mary said, you are liable for the debt till the time the SOL in your state expires. Statute of Limitation gives the creditor the time limit within which they can initiate a suit against you in the Federal courts to collect the outstanding debt. Once the SOL has expired, the creditor cannot collect the debt from you any more.

What exactly is a chex system as referred to by the original poster? Is it like some kind of banl account. John, what state are you froma nd maybe we can help you out a little more. We can tell you whet the SOl is and if the debt was in 1999 it should have fallen off your report by now so definately dispute it with the credit bureaus.

Chex system is a reporting agency are they not???

chex will have a file on you if you bounce a check, they will notify you and you will pay the money directly to them, once you pay it you are very quickly off the list.
This system is very connected, if you go to write a check while you are on the list you will be denied. You are better off getting it cleared up as soon as possible.

I have this when I go to walmart but have never bounced a check. It happened years ago and when I tried to use a check but when I called the number on the register reciept they had no information on me and didn;t know why I was listed. I asked how I cvould clear this matter and they were unsure because there was no one to clear it with since there was no bounced check. To my knowledge it is still like this. After a second attempt years ago I just used my checking acount MAC card.
I wanted to try it again ans see what I could do, maybe something has been set up since then to clarify these types of mistakes but do not want the embarrassment at the register. Is there a number you can call and just check?

Are TeleChex and Check System the same thing? I was gonna make a comment, I DID ( accidently) bounce a check, through Telechex. However....as soon as I cleared it up, about a few weeks later, my 'account' at Telechex was cleared up.

...wanna add a queation to this, too. Is there an actually SOL for something like this?

Hi goodgrace
The SOL does not necessarily depend on the state you live in. It depends on the state where you have signed in the loan agreement with the creditor. If you have signed the loan agreement with the creditor in Indiana, then the SOL on the loan would be 6 years and not 3 years. Now, even if your account has been charged off, you need to repay off the existing debt because charge off does not mean that you are exempted from paying off the debt and since the SOL on the debt has not expired, the creditor can sue you to the court to recover the outstanding debt by bringing judgment against you.

The statute of limitations is 100 PERCENT dependent on the state in which you CURRENTLY reside.... It doesn't matter if you lived on Mars when you signed a contract........

I PROMISE!!!

Now here is a big question and I would really like to know the answer on this. Everything I have read on debt validation insists that it is actually the state you signed the contract in and NOT the state you most recently reside in. How can this be Doc? If this were the fact wouldn't people who have lassive debt move to a state with a really small statute of limitiations if they thought they could get rid of the debt. Is there actually a trick to getting around the rule or is the rule misstated in what I have read on this subject?

Every atty I have ever talked to about it has told me that if they intend to file a suit, they have to do it in your state, and as such, the applicable statutes of THAT state are what matters...

I suppose, if people (O.J. Simpson, for example) can move to Florida to take advantage of more lax bankruptcy laws, so to could a consumer move to take advantage of the SOL issue....

Theres an idea. LOL. I guess some where along the line someone got this confused. Thanks for clarifying the matter. Have you had a lot of visits to your site. I have stopped in a couple times. Hopefully after proving and posting here your site traffic has at least picked up some.

It's kind of funny you said something about OJ Simpson, DOC. Seems like he gets away with everything!! LOL

This probaly boils down to having a lawyer that knows all the ins and outs of law. We could have the same thing but most who are being hounded by debt collectors are in that situation because they do not have the money to pay an atty to get them out of trouble with their debt. Also you can imagine if the debt is not high then ot really would be worthless to get an atty because their fees would probaly be alot higher than the actual debts theirselves.

I don't think an Att or a CA will send anything to you if the bill is a very small amount. However......I really don't know that, for a fact, because I've always had very HIGH amounts. LOL

I have had two collection agencies send me letters over tiny debts. One was for a doctor who charged me for a covered service I should have gotten for free. He was not in net work but when I called to schedule my appt. the secretary told me he was in net work. After getting collection notices I called and they were suppose to dismaiss the bill and never did. the other was for a small hospitol bill..thats another story.

The CA's sure waste ALOT of paper writing up bills, for very small debts. I ACTUALLY got a bill, from a CA, for $45.00. What kind of crap is that??

Well, they probably paid about $.45 for it, so, virtually anything they make is profit... That's why they're so eager to settle...

Doc is right on that on SD. The older the debt the less and less they pay for it so some are willing to except a small amount to settle the debt. Usually it is already past the statute of limitartions at this point and a few cents made is more than they paid so they would not be out anything.

If you are already in debt and your credit score has already been reduced, you should start repairing your credit. It is a time taking process and you should have patience if you want to repair your credit by yourself. You can also go for credit repair companies, but it is very difficult to find one that offer good service. Most credit repair companies are scams. Even if you go through the Federal Trade Commission site, you will find that even the FTC recommends repair your credit by yourself.

Yes, payday lenders can even sue you to the court and bring judgment against you to recover the debt. Now since payday loans have a very high interest rate, you should always pay it off first since you may fall in debt trap. Next, you should pull out your credit report to find out the creditors to whom you owe the debt. Send them DV letters to find out whether you actually owe the debt or not. If they can validate your debt, come to a repayment agreement and repay it off. However, before coming to a repayment agreement, you should make the creditor agree to PFD. This will help you to improve your score.

If the payday loans are illegal (some are) and it goes to court could the poster get a better deal from the judge? Would the ddebt still be legal to collect?

If the creditor sue you to the court, it can get judgment against you to recover the outstanding debt including his attorney fees and other charges and the judgment amount would include all these charges along with the outstanding debt amount. So it is always advisable that whenever you get a summon, first file a response to the summon and then try to settle the debt outside the court by coming to a repayment agreement with the creditor.

You can contact the Chex Systems, Inc. at any of the following addresses
- 12005 Ford Road, Suite 600, Dallas, TX 75234
- 8501 N. Scottsdale Rd., #300, Paradise Valley, AZ 85253
- 7805 Hudson Road Suite 100, Saint Paul, MN 55125
- 400 West Deluxe Parkway, PO Box 12536, Milwaukee, WI 53212

You can also call them at (414) 341-5000 or (800) 517-7125 or 1-800-428-9623

Try annualcreditreport.com Check out your credit report and see how much you have. Not all Collection Agencies report to all 3 bureaus. So make a comparison and see that no debts are overlapping.

Hi Alan,

It can continue till you pay the off the debt. If you really owe the debt, and the company is offering a settlement, you should go with the settlement. Settlement lowers the amount by 40-60%. They can even sue you for non payment of the dues.

Yes! ChexSystems (Consumer Relations) is a reporting agency; however, they only report mishandled bank accounts and in some cases bad checks.

If you do not pay the debt, I have seen accounts repost even after 7 years. What they do is keep reselling the debt to other collection agencies.

If you have a savings account with the bank in which you owe money... you may as well kiss that money goodbye. They can take what you owe without any notice.

IMPORTANT! Just because you pay the bank back the money DOES NOT remove you from ChexSystems. You will still remain in it for 5 years prohibiting you from having a future bank account.

They are programs you can sign up for that can substantially improve your chance to get the information removed/updated and into a new bank account.

Yes! ChexSystems (Consumer Relations) is a reporting agency; however, they only report mishandled bank accounts and in some cases bad checks.

If you do not pay the debt, I have seen accounts repost even after 7 years. What they do is keep reselling the debt to other collection agencies.

If you have a savings account with the bank in which you owe money... you may as well kiss that money goodbye. They can take what you owe without any notice.

IMPORTANT! Just because you pay the bank back the money DOES NOT remove you from ChexSystems. You will still remain in it for 5 years prohibiting you from having a future bank account.

They are programs you can sign up for that can substantially improve your chance to get the information removed/updated and into a new bank account.

www.amgconsultinggroup.com

NO! They are not the same thing. You can be out of ChexSystems, but UNABLE to write a check. ChexSystems can block you from a new account. TeleCheck can red flag you and prevent a grocery store from accepting your check.

Both have separate reports and provide completely different information.