ChexAdvisor.com Helps 'Bankless' Americans to Regain their Credibility with the Banking Community

(EstateNewsWire.com, May 28, 2012 ) Elmsford, NJ – For many Americans, a history of bounced check writing or several accounts in default makes opening a new checking account difficult, if not impossible. Too many overdrafts, unpaid stock debt and late payments that led to the closing of the account are considered account mishandling instances and are reported to Chexsystems, a consumer-reporting agency, by its bank members.

Initially implemented as a fraud prevention mechanism that could easily locate perpetrators of identity theft and fraud, Chexsystems is currently used by banks to establish the eligibility status of potential customers for opening a new account. People who, in the past, have made any type of minor banking mistake and ended up being blacklisted by Chexsystems are, in most cases, left ‘bankless’ and prevented from enjoying future financial services from the banking community.

Five years is the standard period during which a blacklisted individual will have tremendous trouble trying to open a new savings account, checking account or any type of account, for that matter, with two exceptions: either the bank or credit union that included your name in the Chexsystems requests for its removal or Chexsystems is forced by law to delete the report. Both of these scenarios are highly unlikely.

“Past banking mishaps should not keep people out of the banking community for so long, there has to be a way for them to regain financial stability and rebuild their reputation”, says Mark Heinrich, the initiator of Chexadvisor.com, a portal containing extensive information about Chexsystems: what it is, how it works, how to dispute the negative entries on the record and have the information removed from the file.

Chexadvisor.com is also offering essential information about un-official routes to eliminate a Chexsystems record. These tips can help any blacklisted individual to have their records erased completely and have a chance to start fresh and be regarded as a low-risk client by the banking community.

While almost 80% of American banks use Chexsystems to determine if applicants for a new account have a history of banking evils, there are still many financial institutions that don’t resort to Chexsystems to validate new accounts. An in-depth compilation of these banks that grant people with Chexsystems records to start an account can be found at Chexadvisor.com.

To get an overview on how Chexsystems works and receive further information on how to request a free Chexsystems report or have your record completely erased, visit http://chexadvisor.com.

About Chexadvisor.com

ChexAdvisor.com provides extensive information to consumers reported to Chexsystems or to those who want to avoid being blacklisted or banned from the banking community. All those who want to open a second chance checking account at one of the non-Chexsystems banks in the US will find Chexadvisor.com a useful resource.

Your Advisor Inc

Taylor Parkinson

888888

admin@youradvisor.com

Source: EmailWire.Com