How long does a closed bank account take to report to ChexSystems?
kab1234 asked:
Due to a job loss I got in a desperate situation and took advantage of my bank’s courtesy overdraft protection..it overdrew the account big-time and I was not able to pay all of it back in time. The bank closed and charged off my account. This bank uses ChexSystems, so how long does it take the bank to report the account?
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Loading ...Tags: Bank account reported to ChexSystems, bank overdraft protection, charged off bank account, Overdraft Protection
You can use this site to determine if it has been reported to ChexSystems.
It will soon show up on your regular credit reports from the credit bureaus, once the bank charged-off your account it will be sold to a debt collector, and they will report the account on your credit report.
You should make a monthly arrangement with the bank to pay back the funds, remember to agree to what you can afford, and stick with it.
You do not want to damage your credit with a collection account.
It is usually reported within 24 hours of the account closure. At least, that is the way WaMu use to operate in regards to charged off accounts. I highly suggest you go to your bank and pay off the balance because the longer it stays there, the more problems it will cause you. Good luck!