Question by Harol R: If I pay my debt, will the Chexsystems 5 year clock start over?
I have a debt in collections that Washington Mutual was charged off to a collections company.

I’ve been told that if I pay my debt, the “5 year” Chexsystems clock will start all over on the day I pay off the entire debt. Is this true?

Best answer:

Answer by sophieb
“many years ago” I had that problem, paid the bill and was able to have good credit with my checks immediately and could get another checking account. I never heard of the “five year clock” before. Why not call Chexsystems and ask them so you get a correct answer.

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