If you happen to be on chexsystems but still have good credit, will you have a hard time getting a loan?
Answers:
It depends on if your lender uses Chexsystems to help make lending decisions. Most banks only use Chexsystems to determine if they will let you open a checking account, not to see if they will loan you money. However, the only way to know for sure is to ask the lender if they use Chexsystems in their lending decisionmaking.
Hello,
It depends on the bank although I did read that 80% of banks use ChexSystems. Depends on the relationship with the bank and what the loan is for.
I am assuming you have a checking account still.
Tip: Call ChexSystems and get your report mailed to you. ChexSystems works like the credit agencies do. They allow disputes so dispute it make sure the check is paid. If the check is not paid negotiate it with the person you wrote the check to.
I have had these removed for clients. The person that reported can tell them it was a mistake and they will remove ASAP.
Good Luck
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