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LT
Joined: 30 Jan 2009
LT's page
Posts: 64
2178 Magic Points
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Subject: Has anyone ever sued this company?
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Wed May 13, 2009 2:07 am
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| Has anyone ever sued Arrow Financial? What results did you get from it? And what were your bases for the suit? |
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rachael
Joined: 11 May 2009
rachael's page
Posts: 244
6581 Magic Points
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Thu May 14, 2009 5:16 am
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Hi LT,
There have been instances where Arrow Financial Services have been charged for violation of the Fair Debt Collection Practices Act. Though i have not dealt with them personally, i have heard that Arrow Financial Services has been fined for using illegal debt collection methods. Let me know your case in details for any further help.
_________________
Looking forward to a debt-free life. |
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LT
Joined: 30 Jan 2009
LT's page
Posts: 64
2178 Magic Points
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Thu May 14, 2009 4:30 pm
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| The problem I have is I found them on my credit report and they will not validate the debt. They have verified it with the credit agencies after I dispuited it. I sent them a letter referencing estoppel by silence, Engelhardt v Gravens (Mo) 281 SW 715, 719 to see if they will respond to that. My biggest issue is they won't acknowledge me or the debt. can I sue them under that case law, for not saying anything and not removing the debt. |
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rachael
Joined: 11 May 2009
rachael's page
Posts: 244
6581 Magic Points
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Subject: Arrow Financial Services
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Fri May 15, 2009 3:58 am
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Hi LT,
Under the Fair Debt Collection Practice Act, the collection agency cannot report any debt to the credit reporting agencies, if they have not been able to validate the debt. File a complaint with the FTC. You should also send copies of the debt validation letter you have sent to the CA and any receipts that you have as a proof, with your complaint.
For more information on how to file a complaint with the FTC visit the following link"http://www.ftc.gov/"or call the number 1-877-FTC-HELP (1-877-382-4357) |
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Firang
Joined: 28 Apr 2009
Firang's page
Posts: 58
-25 Magic Points
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toby tyler
Joined: 11 Sep 2009
tobytyler's page
Posts: 2
50 Magic Points
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Subject: Has anyone ever sued this company?
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Fri Sep 11, 2009 3:24 am
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If people invested as much time and effort into settling and/or making arrangements to pay these debts as they did running or hiding from them, they'd be surprised what kind of arrangements they could get out of these guys.
Contrary to popular belief, the most common approach taken by most third party credit collection agencies is to MAKE AFFORDABLE ARRANGEMENTS with the debtors from which they are paid to collect defaulted loans.
The most profitable file to have in your office is the one that pays you every month. It is not uncommon for an agency to agree to payments of 50-75.00 per month on a 5000.00 debt. This practice is encouraged with open arms in most agencies that are binded by the FDCPA in the US. For every 25 "uncollectable" or "skip" files in a third party collection agency's database, there may be one or two that are being paid.
The Creditor most likely will waive or freeze the interest on an account for the debtor if requested, just make sure you get it in writing. The idea is that if a debtor pays 6-12 months of minimal monthly payments, odds are their luck will turn around, and they will offer a lump sum settlement within the next year. |
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Wasco_Kid
Joined: 11 Feb 2010
Wasco_Kid's page
Posts: 32
737 Magic Points
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Subject: arrow financial services
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Wed Feb 17, 2010 6:53 pm
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Hi LT,
I am more than familiar with your situation with Arrow Financial Services. Unfortunately, you will not get anything from them unless you keep putting pressure on them to validate the debt. DO not call them. I had 8 different accounts on my credit from them. I sent them DV letter (CMESR). No answer. I sent a following DV letter (CMESR). Still no answer. I disputed with CRA. Investigation came back as verified. I disputed again with CRA and submitted copies of the 1st and 2nd DV letters and asked for 623 with 15 U.S.C. ยง 1681i to support the re-investigation.
I am still waiting to hear back on 3 of the accounts. 5 of out the 8 have been deleted from my credit profile. I spoke with Equifax today because 2 of the 3 remaining account now show a change in account status. The accounts now read "RENEWED OR REFINANCED". According to equifax, there are zero balances showing, no reporting data except when it was opened and the current reporting time. It seems to be their opinion that the OC has now sold (or re-sold) this account to another CA.
I am awaiting for the conclusion of the Equifax re-inestigation and will post the results as soon as I have them. I already have the ammunition I need to sue Arrow Financial. I know that the Attorney General of Illinois has filed suit against AFS for some 650+ consumer rights violations.
any comments are appreciated. Any questions are welcome. Midland Credit Management is on the ropes as well with me. They are harder to deal with but they will back down before Arrow. |
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