Would my bank reserve line go into ChexSystems after I file a Ch7 BK?

[aimhighlow]

I have a checking account that is attached to a reserve credit line (automatic payments are made to the reserve line and they both have the same account number). I have used up $2500 of my reserve line so I would have to put the $2500 debt in my BK. My Chex currently is clean with no negatives.

If I were to file BK, would my bank account go into Chex? And if so, how can I prevent this from happening?


Thank you in advance

[IamOld]

THAT is a really good question - make sure that first - you have and begin to use an account at a bank where you owe NOTHING - in other words a new bank acct (some to avoid anyway are Wells Fargo, for example)

MAKE SURE that your checking a/c balance ITSELF is not negative - the credit line will not (should not) be reported to Chex as that is NOT your checking account but a credit product - it's NOT the same thing as an overdrawn checking a/c.

BEST WISHES TO YOU!!!!

[HHM]

I doubt it, I think if this were an issue, we would be hearing more about it.

Also, a reserve line of credit is just that, a line of credit. Chex Systems is more about tracking bad checks and overdrafts (when there is no line of credit).

[DesdemonaB]

My checking and saving accounts did go to ChexSystem becuase it was overdrawn on the day of filing. In April I applied and was delinced for a checking account with PerkStreet due to the ChexSystem entry.

I faxed over the dispute form and my discharge with my bank highlighted as being included in the BK, and they removed both accounts and they even delete a overdrawn that was paid from 2008. Bonus

It took forever, as ChexSystem does not have follow the 30 day rule, it's 45 and everything was resolved closer to the 45 day mark but I was to reappy with PerkStreet no problem. I even followed the process for disputing inquiries, and had 4 out 9 inquiries removed.

So if it does go to ChexSystem just dispute and it should be removed easily.

I did find out there is a other check/banking service called Certegy Check Services - Wal-Mart uses them, I was trying to cash my first child support check and I was declined. So now I have to request that report and find out what going on there.

[IamOld]

desdemona, if you google Cetergy, you find a LOOOOONG list of massive complaints - Cetergy is an extortion scheme, essentially, they want you to sign up for their "gold" service, etc. Cetergy is a joke - they supposedly decide whether your checks is "good" based on some "proprietary" algorithm. I guess the bank where your support check is drawn on isn't reachable by you?

[DesdemonaB]

IamOld

I currently bank with PerkStreet - cash back yeah - no brick and mortar bank which means I need to mail my deposits - boo.

I received my first child support check (yeah) and I need the money to pay for school supplies so I need the check cashed so the plan was to cash at Wal-Mart (3.00) and load to a Money Card (4.95) and use to it to get everything from school. Went to Wal-Mart and they wouldn't cash it and gave me Cetergy info. I then realized that the bank the check was drawn from is local so I just went there and cashed it there (they didn't charge me) I then load it to my UpSide card and went on my way.

I never heard of them either so I too Googled, doesn't look good - just like ChexSystem but the paper that I received says I have the right to request my "file" - which I bet has my two overdrafts on there - I just dispute like I did with ChexSystem.

While I am not huge Wal-Mart shopper, it would be my luck that I need to shop there only to be declined at the check out.

Clean-up from years of bad credit and a BK is hard work and will not happen overnight but the only person who can fix it is me, as it's me that put myself in the situation.

I'll call on Monday and start the process - maybe I learn something I can share.

[IamOld]

Thanks DesdemonaB!! Cetergy is a racket - you'll read about the inane Indian "customer service," people with "perfect" credit getting declined, etc. It sucks. And they have their tentacles spread far and wide...

IamOld

I currently bank with PerkStreet - cash back yeah - no brick and mortar bank which means I need to mail my deposits - boo.

I received my first child support check (yeah) and I need the money to pay for school supplies so I need the check cashed so the plan was to cash at Wal-Mart (3.00) and load to a Money Card (4.95) and use to it to get everything from school. Went to Wal-Mart and they wouldn't cash it and gave me Cetergy info. I then realized that the bank the check was drawn from is local so I just went there and cashed it there (they didn't charge me) I then load it to my UpSide card and went on my way.

I never heard of them either so I too Googled, doesn't look good - just like ChexSystem but the paper that I received says I have the right to request my "file" - which I bet has my two overdrafts on there - I just dispute like I did with ChexSystem.

While I am not huge Wal-Mart shopper, it would be my luck that I need to shop there only to be declined at the check out.

Clean-up from years of bad credit and a BK is hard work and will not happen overnight but the only person who can fix it is me, as it's me that put myself in the situation.

I'll call on Monday and start the process - maybe I learn something I can share.

[aimhighlow]

Does anyone know if there was any way I could keep that particular checking account after filing BK? (It is my fave bank and checking account)

[Freddy03]

Does anyone know if there was any way I could keep that particular checking account after filing BK? (It is my fave bank and checking account)

As long as there isn't any cross collateral and not over drawn you should be able to keep it open.