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Subject:
Being in the "check system" worse than bankruptcy?
Category: Business and Money Asked by: abisuz-ga List Price: $10.00 |
Posted:
13 Apr 2006 13:59 PDT
Expires: 13 May 2006 13:59 PDT Question ID: 718630 |
My boyfriend was toldby his old bank that because he mishandled a checking account years back, he has been placed in a "check system" that won't allow him to open another checking account until he pays off the debt created from the first checking account. He was then told today by a bank where he was cashing a check that being in this "check system" (something I've never heard of and can't find any info. on with an Internet search) is worse than bankruptcy and will keep him from getting an account of any kind for years. Has anyone heard of this "check system"? How can he get off of it so he can open an account? And hoe, if it is so bad to be in this system, is he able to get credit cards and car loans, as he has done over the past few years since the checking account mishap? |
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There is no answer at this time. |
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Subject:
Re: Being in the "check system" worse than bankruptcy?
From: pinkfreud-ga on 13 Apr 2006 14:11 PDT |
There are certainly databases of people who have a history of writing bad checks. Whether being in such a database is worse than bankruptcy probably depends upon the circumstances and the amount of time that has passed. |
Subject:
Re: Being in the "check system" worse than bankruptcy?
From: pinkfreud-ga on 13 Apr 2006 14:14 PDT |
I suspect that your boyfriend was told that his name is in "ChexSystems," rather than "the check system." There's some info here that may be useful: http://www.creditinfocenter.com/FeaturedArticles/ChexSystems.shtml |
Subject:
Re: Being in the "check system" worse than bankruptcy?
From: daniel2d-ga on 13 Apr 2006 15:19 PDT |
First, pay off any old debts and get receipts. Second, get a free copy of his credit reports (do a search "free credit reports"). THe whole idear about extending someone credit is that they will pay it back - if you have a history of not paying credit cards, loans or passing bad checks, how can you expect a lender to extend you credit or a merchant to cash your checks? |
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