Second Chance Checking Accounts In Iowa

Aug. 10, 2013 - PRLog -- Chexsystems can protect consumers from thieves cashing stolen checks and fraudsters opening up bank accounts in another person's name, but it can also prevent honest people from opening up a new checking account.

While the Chexsystems can deter criminals it can also affect consumers that had a previous minor banking infraction. For example, a consumer could have been reported to the Chexsystems by a bank in which they unknowingly had a negative checking account balance causing the account to be closed. This negative balance could have been caused by a monthly service fee or other account charge that went unpaid.

Each infraaction that is submitted to Chexsystems by a bank or credit union will remain on the consumer's Chexsystems report for five years, unless the financial institutution that reported the item request that it be removed or Chexsystems becomes obligated by law to remove it. A reporting Chexsystems member is under no obligation to remove a accurate item of a account mishandling due to payment of money that was owed. However, if a collection amount is reported, the Chexsytems member is obligated to mark the account as paid.

Under the Fair and Accurate Credit Transaction Act (FACTA) amendments to the Fair Credit Reporting Act (FCRA), a person is entitled to obtain a free copy of their Chexsystems report, at the consumer's request, once every 12-months.

The free consumer organization "Bad Credit MD" is helping consumers in Iowa that are unable to open a new checking account because of their Chexsystems file by providing them with a detailed list of banks and credit unions that offer "second chance" and "fresh start" checking programs along with providing them the necessary information to receive a free copy of their yearly Chexsystems file to make sure that all the information contained within their report is accurate. This useful information for consumers can be found at http://www.badcreditmd.com/second-chance-checking-account/.

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Bad Credit MD, is a free nationwide On-line consumer information guide that helps people across the United States, including the cities of Des Moines,Cedar Rapids, Davenport, Sioux, Waterloo, Iowa, Council Bluffs, Ames, Dubuque, West Des Moines, Ankeny, Urbandale, Cedar Falls, Marion, Bettendorf, Mason, Marshalltown, Clinton, Burlington, Fort Dodge, Ottumwa, Muscatine, Coralville, Johnston, Clive, Newton, Indianola, Altoona, Waukee, North Liberty, Boone, Oskaloosa, Spencer, Fort Madison, Keokuk, Storm Lake, Pella, Carroll, Waverly, Le Mars, Fairfield, Grinnell, Norwalk, Pleasant Hill, Mount Pleasant, Denison, Grimes, Decorah, Webster, Creston, Clear Lake, Perry, Charles, Knoxville, Washington, Atlantic, Sioux Center, Hiawatha, Nevada, Oelwein, Estherville, Maquoketa, Orange, Independence, Red Oak, Eldridge, Clarinda, Algona, Anamosa, Centerville, De Witt and Glenwood in Iowa.

Bad Credit MD has been in business helping consumers with bad credit since April of 2007 and is a subsidiary of Enticing Designs Publishing. The staff has various backgrounds in the financial and mortgage industry. This self-help site has over 500 pages of credit advice and articles. Its staff has researched its information with various governments around the world to provide the most comprehensive and accurate information free of charge.