FROM: Your ame
Your Address
City, State Zip Code Social Security umber
SUBJECT: Dispute of Report
I have obtained a copy of my ChexSystems report. This letter is to serve as notification to you of a formal complaint that the following information is incorrect:
Bank Name Date
[ List the disputed information here: example - amount is incorrect, wrong date, this is not your credit line, you’ve never had an account with this bank, the amount was paid and not updated on report, the dates are wrong, or any other reasons you are disputing the record]
The above listed items are inaccurate and/or incomplete. This is a very serious error in ChexSystems reporting.I am aware that Credit reporting laws ensure credit-reporting agencies only report 100% accurate credit information. Every step must be taken to assure the information reported is completely accurate and correct.
This is a violation of the FCRA, and therefore needs to be investigated. I respectfully request that, within 30 days of the receipt date of this letter, I be provided proof of these alleged items, specifically the contract, note or other instrument bearing my signature.
If this is not provided to me with in this period I am formally requesting that these item must be deleted and removed from my report.Thank you for your assistance in this matter.
Your ame and Signature
Make copies of all documents before mailing
You should send this letter certified mail, which would require someone to sign for it, it will get their attention, plus you will have a name and date your letter was received, as evidence.
This may be the only letter you will need to send. This letter alone has gotten numerous people removed from ChexSystems.
However… if you DO OT receive an answer or any kind of response after more than 30 days from the time they received your dispute (request for investigation letter) then send following second letter along with another copy of the first dispute letter, and a copy of the register mail receipt that shows the date it was delivered and the name of ChexSystems employee that signed for it.
Also send this letter by certified mail: ChexSystems - Second LetterDate
FROM: Your ame
Your Address
City, State Zip Code Social Security umber
SUBJECT: Dispute of Report 2ndRequest
In a letter dated [List date of first letter], sent certified mail and signed by [ ame of ChexSystems employee that signed for the letter], I formally disputed information on my report and requested that you investigate correct, or remove the following information in my ChexSystems report:
[ Re-List the disputed information here, exactly as on the first letter: example - amount is incorrect, wrong date, this is not your credit line, you’ve never had an account with this bank, the amount was paid and not updated on report, the dates are wrong, or any other reasons you are disputing the record]
To date, I have not received confirmation that you have done so. I have not received any communication from ChexSystems at all regarding this matter.I am maintaining a careful record of my communications with you on this matter, including the name and date received of my certified letters, for the purpose of filing a complaint with the FTC should you continue in your non-compliance.
As 30 days have now passed, this letter is my formal demand to be removed from the ChexSystems database. Please note violations of the Fair Credit Reporting Act have already occurred by the inaccuracy of my report, and your failure to respond to my formal dispute.
I have already obtained consultation regarding this matter, including information on precedence set by the court ruling in Wenger v. Trans Union Corp., No. 95-6445 (C.D.Cal. Nov. 14, 1995); it is with their assistance that this letter prepared to you.
Willful non-compliance is a very serious matter. Please immediately send confirmation of the deletion of my record to the address above.If I do not hear from you within ten business days, I am prepared to take legal action to remedy the situation.
Your ame and Signature
(Wenger versus Trans Union was a court ruling imposed against Trans Union, one of the big 3 Credit Bureaus, involving thousands of dollars in fines because they failed to respond in a timely manner after repeated notifications when Wenger was a victim of identity fraud. The issue being Trans Union’s failure to respond after repeated contacts by Wenger! It cost them thousands of dollars. All Credit Reporting agencies are well aware of Wenger v Trans Union.)
This second letter (if necessary) is very effective to challenge, correct and/or get items removed from your ChexSystems report, or your regular Credit Report for that matter.Even if the information reported is absolutely correct they may not respond in the required time frame, and it may just not be worth the hassle to them. It may just be easier to simply delete the information.
Again… if that bank does eventually responds… even long after the 30 days, ChexSystems can place the information right back on the report.What if ChexSystems does respond within 30 days?
If ChexSystems fails to respond to the first, or the second letter and in addition they never corrected of deleted your report, you will have some very powerful ammunition on your side. You can again consider sending another certified letter in even stronger language demanding that the items be deleted. Or perhaps you should truly considered taking the copies of the letters, & the certified mail receipts and having a consultation with an attorney that has experience with the credit agencies. At this point the law is on your side, and they are clearly in violation.
But what if ChexSystems does respond within the time period, and informs you that the bank did verify the information as correct?Well often times all ChexSystems did was pick up the phone… call the bank… and a bank employee looks in the computer and says yes we do show a record for this person. This is NOT evidence whether the information is correct, or incorrect. This is NOT providing you with copies of documentation bearing your signature as you originally requested.
If ChexSystems replies with just a simple letter stating they contacted the bank, and the information was verified, and… they’ve provided no supporting documentation. You can continue the process using the format of this next letter:
FROM: Your ame
Your Address
City, State Zip Code Social Security umber
RE: [Enter the case ID number on the ChexSystems letter you received]
I am writing in response to your claim that [ ame of Bank] has confirmed my unpaid debt. Please note that you have failed to provide me a copy of the evidence submitted to you by this bank.
In my dispute I requested a complete investigation to include copies of any documents by [ ame of Bank] which contains my signature to validate their clam.Be aware that this is my final goodwill attempt to have this matter resolved. As it now stands, the information you have presented to me continues to be inaccurate and incomplete. It continues to represents a serious error in your reporting, and a violation of the FCRA.
In addition I am requesting that you provide me a description of the procedure you used to determine the accuracy and completeness of the bank's information. Please send this information to me within fifteen (15) days of the completion of your re-investigation. In addition, please provide the name, address, and telephone number of each person you contacted at [ ame of Bank] regarding my alleged account.
It is my understanding that your continued failure to comply with federal regulations can be investigated by the Federal Trade Commission. For this reason, I am maintaining a careful record of all of communications with you by certified mail, should I need to file a complaint with the FTC and my state of [enter your state] Attorney General's office.
This is my [second/third] letter to you regarding this matter! If you do not respond within 15 business days, I am prepared to take legal action against your company for causes of action including, but not limited to, defamation, fraud and violations under the Fair Credit Reporting Act
Be sure to enclose copies of the certified mail receipt of Letter 1 and Letter 2 if applicable. Also include copies of any and all evidence that can help support your dispute, such as all communication and letters, (including the Bank Letter, above) that you have sent to the directly the bank that reported you.
Glossary Of Terms
Account Condition
Indicates the present state of the account, but does not indicate the payment history of the account that led to the current state. (i.e. open, paid, charge off, repossession, settled, foreclosed, etc).
Account number
The unique number assigned by a creditor to identify your account with them. Experian removes several digits of each account number on the credit report as a fraud prevention measure.
Credit items that have a positive status and should reflect favorably on your creditworthiness.
Adjustment
Percentage of the debt that is to be repaid to the credit grantors in a Chapter 13 bankruptcy.
AKA
Also Known As
Annual fee
Credit card issuers often (but not always) require you to pay a special charge once a year for the use of their service, usually between $15 and $55.
A measure of how much interest credit will cost you, expressed as an annual percentage.
Authorized User
Person permitted by a credit cardholder to charge goods and services on the cardholder's account but who is not responsible for repayment of the debt. The account displays on the credit reports of the cardholder as well as the authorized user. If you wish to have your name permanently removed as an authorized user on an account, you will need to notify the credit grantor.
Balloon Payments
A loan with a balloon payment requires that a single, lump-sum payment be made at the end of the loan.
Bankruptcy Code
Federal laws governing the conditions and procedures under which persons claiming inability to repay their debts can seek relief.
Capacity
Factor in determining creditworthiness. Capacity is assessed by weighing a borrower's earning ability and the likelihood of continuing income against the amount of debt the borrower carries at the time the application for credit is made. While capacity may be considered in a credit decision, the credit report does not contain information about earning ability or the likelihood of continuing income.
Chapter 7 Bankruptcy
Chapter of the Bankruptcy Code that provides for court administered liquidation of the assets of a financially troubled individual or business.
Chapter 11 Bankruptcy
Chapter of the Bankruptcy Code that is usually used for the reorganization of a financially troubled business. Used as an alternative to liquidation under Chapter 7. The U.S. Supreme Court has held that an individual may also use Chapter 11.
Chapter 12 Bankruptcy
Chapter of the Bankruptcy Code adopted to address the financial crisis of the nation's farming community. Cases under this chapter are administered like Chapter 11 cases, but with special protections to meet the special conditions of family farm operations.
Chapter 13 Bankruptcy
Chapter of the Bankruptcy Code in which debtors repay debts according to a plan accepted by the debtor, the creditors and the court. Plan payments usually come from the debtor's future income and are paid to creditors through the court system and the bankruptcy trustee.
Charge-Off
Action of transferring accounts deemed uncollectible to a category such as bad debt or loss. Collectors will usually continue to solicit payments, but the accounts are no longer considered part of a company's receivable or profit picture.
Civil Action
Any court action against a consumer to regain money for someone else. Usually, it will be a wage assignment, child support judgment, small claims judgment or a civil judgment.
The amount awarded in a court action.
Closed Date
The date an account was closed.
Co-maker
A creditworthy co-maker is sometimes required in situations where an applicant's qualifications are marginal. A co-maker is legally responsible to repay the charges in the joint account agreement.
Consumer Credit Counseling Service
A non-profit organization that assists consumers in dealing with their credit problems. Consumer Credit Counseling Service has offices throughout the United States that can be located by calling 800 388 CCCS (2227).
Co signer
Person who pledges in writing as part of a credit contract to repay the debt if the borrower fails to do so. The account displays on both the borrower's and the co-signer's credit reports.
Credit Limit/Line of Credit
In open-end credit, the maximum amount a borrower can draw upon or the maximum that an account can show as outstanding.
Information reported by current or past creditors.
Credit Report
Confidential report on a consumer's payment habits as reported by their creditors to a consumer credit reporting agency. The agency provides the information to credit grantors who have a permissible purpose under the law to review the report.
Credit Scoring
Tool used by credit grantors to provide an objective means of determining risks in granting credit. Credit scoring increases efficiency and timely response in the credit granting process. Credit scoring criteria is set by the credit grantor.
Creditworthiness
The ability of a consumer to receive favorable consideration and approval for the use of credit from an establishment to which they applied.
Date filed
The date that a public record was awarded.
Date of Status
On the credit report, date the creditor last reported information about the account.
Date Opened
On the credit report, indicates the date an account was opened.
Date resolved
The completion date or satisfaction date of a public record item.
Delinquent
Accounts classified into categories according to the time past due. Common classifications are 30, 60, 90 and 120 days past due. Special classifications also include charge-off, repossession, transferred, etc.
Discharge
Granted by the court to release a debtor from most of his debts that were included in a bankruptcy. Any debts not included in the bankruptcy – alimony, child support, liability for willful and malicious conduct and certain student loans – cannot be discharged.
Disclosure
Providing the consumer with his or her credit history as required by the FCRA. Experian provides consumer credit report disclosures via the Internet, by U.S. Mail or in person at our office location in Santa Ana, CA.
Dismissed
When a consumer files a bankruptcy, the judge may decide to not allow the consumer to continue with the bankruptcy. If the judge rules against the petition, the bankruptcy is known as dismissed.
Dispute
If a consumer believes an item of information on their credit report is inaccurate or incomplete, they may challenge, or dispute the item. Experian will investigate and correct or remove any inaccurate information or information that cannot be verified. Experian gives consumers the option of disputing onlineor they may call the telephone number on their credit report for assistance.
ECOA
Standard abbreviation for Equal Credit Opportunity Act.
End-user
The business that receives the report for decision making purposes that meet the permissible purpose requirements of the FCRA.
Equal Credit Opportunity Act (ECOA)
Federal law, which prohibits creditors from discriminating against credit applicants on the basis of sex, marital status, race, color, religion, age, and/or receipt of public assistance.
Equifax
One of the three national credit reporting agencies, headquartered in Atlanta, Ga. The other two are Experian and TransUnion.
Experian
One of the three national credit reporting agencies, with U.S. headquarters in Costa Mesa, CA. The other two are Equifax and TransUnion.
F Fair Credit and Charge Card Disclosure Act
Amendments to the Truth In Lending Act that require the disclosure of the costs involved in credit card plans that are offered by mail, telephone or applications distributed to the general public.
Fair Credit Billing Act
Federal legislation that provides a specific error resolution procedure to protect credit card customers from making payments on inaccurate billings.
Federal legislation governing the actions of credit reporting agencies.
Fair Debt Collection Practices Act (FDCPA)
Federal legislation prohibiting abusive and unfair debt collection practices.
Finance Charge
Amount of interest. Finance charges are usually included in the monthly payment total.
Fixed Rate
An annual percentage rate that does not change.
G
Generation Identifier
Generation identifiers are Jr., Sr., II, III, IV, etc.
Geographical code
This information is received from the Census Bureau and represents the state, Metropolitan Statistical Area, county, tract and block group of the reported address. This code is similar to a ZIP CodeTM.
The time period you have to pay a bill in full and avoid interest charges.
Guarantor
Person responsible for paying a bill.
H
High balance
The highest amount that you have owed on an account to date. I
Installment Credit
Credit accounts in which the debt is divided into amounts to be paid successively at specified intervals.
Investigation
The process a consumer credit reporting agency goes through in order to verify credit report information disputed by a consumer. The credit grantor who supplied the information is contacted and asked to review the information and report back; they will tell the credit reporting agency that the information is accurate as it appears, or they will give us corrected information to update the report.
Investigative Consumer Reports
These are consumer reports that are usually done for background checks, security clearances and other sensitive jobs. An investigative consumer report might contain information obtained from a credit report, but it is more comprehensive than a credit report. It contains subjective material on an individual's character, habits and mode of living, which is obtained through interviews of associates. Experian does not provide investigative consumer reports.
Involuntary Bankruptcy
A petition filed by certain credit grantors to have a debtor judged bankrupt. If the bankruptcy is granted, it is known as an involuntary bankruptcy.
Item-specific Statement
Offers an explanation about a particular trade or public record item on your report, and it displays with that item on the credit report.
Judgment Granted
The determination of a court upon matters submitted to it. A final determination of the rights of the parties involved in the lawsuit.
Last Reported
On the credit report, the date the creditor last reported information about the account. Liability amount
Amount for which you are legally obligated to a creditor.
Lien
Legal document used to create a security interest in another's property. A lien is often given as a security for the payment of a debt. A lien can be placed against a consumer for failure to pay the city, county, state or federal government money that is owed. It means that the consumer's property is being used as collateral during repayment of the money that is owed.
Line of Credit
In open-end credit, the maximum amount a borrower can draw upon or the maximum that an account can show as outstanding.
The book and page number on which the item is filed in the court records.
M
Mortgage Identification umber (MI )
Indicates that a loan is registered with Mortgage Electronic Registration Systems Inc., which tracks the ownership of mortgage rights. This number will follow the homeowner throughout the mortgage.
The date of the recent account condition or payment status. This date is also the balance date.
otice of Results
If your investigation results in information being updated or deleted, you may request that we send the corrected information in your credit history to eligible credit grantors and employers who reviewed your information within a specific period of time. If your investigation does not result in a change to your credit history, results will not be sent to other lenders.
Obsolescence
A term used to describe how long negative information should stay in a credit file before it's not relevant to the credit granting decision. The FCRA has determined the obsolescence period to be 10 years in the case of bankruptcy and 7 years in all other instances. Unpaid tax liens may remain indefinitely, although Experian removes them after 15 years.
Opt In
The ability of a consumer who has opted out to have their name re-added to prescreened credit and insurance offer lists, direct marketing lists and individual reference service lists. Consumers who have previously opted out of receiving prescreened offers may have their names added to prescreened lists for credit and insurance offers by calling 1 888 5OPTOUT (1 888 567 8688).
Opt Out
The ability of the consumer to notify credit reporting agencies, direct marketers and list compilers to remove their name from all future lists. Consumers may opt out of prescreened credit and insurance offer lists by calling 1 888 5OPTOUT (1 888 567 8688).
The original amount owed to a creditor.
P
Payment Status
Reflects the previous history of the account, including any delinquencies or derogatory conditions occurring during the previous seven years (i.e., Current account, delinquent 30, current was 60, redeemed repossession, charge-off – now paying, etc.)
Permissible Purposes
There are legally defined permissible purposes for a credit report to be issued to a third party. Permissible purposes include credit transactions, employment purposes, insurance underwriting, government financial responsibility laws, court orders, subpoenas, written instructions of the consumer, legitimate business needs, etc.
Personal Information
Information on your personal credit report associated with your records that has been reported to us by you, your creditors and other sources. It may include name variations, your driver's license number, Social Security number variations, your date or year of birth, your spouse's name, your employers, your telephone numbers, and information about your residence.
Personal Statement
You may request that a general explanation about the information on your report be added to your report. The statement remains for two years and displays to anyone who reviews your credit information.
Petition
If a consumer files a bankruptcy, but a judge has not yet ruled that it can proceed, it is known as bankruptcy petitioned.
Plaintiff
One who initially brings legal action against another (defendant) seeking a court decision. Potentially egative Items
Any potentially negative credit items or public records that may have an effect on your creditworthiness as viewed by creditors.
Public Record Data
Included as part of the credit report, this information is limited to tax liens, lawsuits and judgments that relate to the consumer's debt obligations.
Recent balance
The most recent balance owed on an account as reported by the creditor.
Recent payment
The most recent amount paid on an account as reported by the creditor.
Released
This means that a lien has been satisfied in full.
Report umber
A number that uniquely identifies each personal Experian credit report. This number displays on your personal credit report and should always be referenced when you contact us.
On the credit report, the date the creditor started reporting the account to Experian.
Repossession
A creditor's taking possession of property pledged as collateral on a loan contract on which a borrower has fallen significantly behind in payments.
Request an Investigation
If you believe that information on your report is inaccurate, we will ask the sources of the information to check their records at no cost to you. Incorrect information will be corrected; information that cannot be verified will be deleted. Experian cannot remove accurate information. An investigation may take up to 30 days. When it is complete, we'll send you the results.
Request for Your Credit History
When a credit grantor, direct marketer or potential employer makes a re
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