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HAS ANYONE HERE DELT WITH ARROW FINANCIAL SERVICES?


bigrick
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According to them, they purchased my First Premier acct.

The weird thing is, when they reported to EX, my score went down 1 point, TU, no change, and EQ score went up 5 points. There were no other changes to any of my reports. I went over them letter by letter.

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Probably the bottom of barrel when it comes to bottom feeding 3rd party collections!

Arrow used to buy a lot of "delinquent" and/or "defaulted" gym membership accounts from Bally's Fitness. Based on my personal dealings with Arrow Financial, their historical claim to fame has typically been based on the fact that the company has a habit of purchasing old/very old debts/accounts recievables/charge offs and then aggrssively pursuing collection activity on the accounts. Problem is that except for those states with 10 to 15 year statute of limitations, in most cases (as with me) the debt is close to or has already exceeded the SOL guidelines and is for all intents and purposes legally untenable.

Michael

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Arrow should really be called "Drain Bamaged Financial Services". Let's face it, savants they're not. I got more results talking to a box of rocks. At least "they" listened.

Here's Arrow's corporate mission:

The only good deadbeat is a dumb deadbeat. If it's illegal and beyond the SOL, do it anyway. And dont get caught...or you're fired.

Never responded to any DV requests or the CRA's verification. I washed them away like soap scum.

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  • 4 months later...

I have sent arrow 3 Dv letters (no response). My attorney has sent them a letter (no response). Then I sent a letter of intent to sue (no response). I then typed up my basis for suit and sent them a copy of it with a letter giving them two weeks to respond or I will file the letter in my county small claims court. They have one more week to respond before I file. I will keep all updated.

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They have one more week to respond before I file. I will keep all updated.

I think there is some collector at Arrow who has read your letters and chuckles to himself while saying "go ahead and sue, I double dare ya! What are you chicken or something?" :lol:

High marks for being so patience but lets put this in perspective, you have already given them ample opportunity so now it is time stop playing nice and simply file suit!

Michael

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you have already given them ample opportunity so now it is time stop playing nice and simply file suit!Michael

Yes but my intent is to be able to show the judge that I am not someone trying to avoid a debt but someone who simply wants the debt validated before paying up.

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Yes, I have. It was a fight..a big fight..but they eventually removed after I reported them to Illinois Licensing Bureau (the address I had for them was IL). I sent the bureau a complaint with a copy to Arrow outlining thier violations, state and federal, and about 25 days later it was gone. Hope that helps.

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Arrow bought up an old debt of mine and promptly re-aged it. I sent them a very short, terse letter with ITS and a copy of lawsuit I intended to file and said" ....."in case you're not familiar with the law, a copy of it is attached for your perusal. I suggest you read it" They had only reported to CRA once, in August, and that's how I found out about them. I didn't have an exact DOLA date, but, I knew it had to have been around July 1996 cause that's when my credit life went in the crapper, so, it was due to fall off CR any day in the first place.

Then I faxed a letter to CRA disputing the DOLA and just yesterday called CRA who said account had been deleted. :D

I was reading on a chat forum of CA's and the overall impression I got was that they don't like "law savvy" debtors and if there is any thing shady going on with the account (re-aging, etc) they advise each other to dump the account. Get tough, write them nasty grams and cite the law, or better yet, keep it short, to the point and print specific laws that pertain and send along with letter and ITS and lawsuit.

I am fortunate in that my small claims court forms can be filled out and printed on PC so I don't have to go to the courthouse every other day. Check your state court homepage. This service may be available to you too. :)

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I am dealing with Arrow at the moment. I dv'd them Dec 12, they put a hard inq on my cr on 12-26. On jan 12 i sent them another dv letter stating they had violated the FDCPA(because they sent me another collection leter on 12-30) and the FCRA by not reporting as disputed. I also stated that if they did not stop reporting in 15 days I was giong to file a lawsuit. I also filed a compalint with the BBB in IL, and with the FTC(you can do both of these online) and I stated I was going to file a complaint with the AG of their state and mine(which I am working on). They should have received my letter and we'll see what happens, if not I will file a suit.

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Thanks Nana, just a quick question, though. The IL regulating board, do you know how I can get in touch with them, are they like a licensing board or something? Sorry this is my first experience with this.

Yes, I can help you...please read the link in my sig..that will help you a lot...

The licensing board regulates the CA's in IL...if they violate, they can discipline the CA as they are the state...I'll add the url in a sec..ha

http://www.dpr.state.il.us/ I am having trouble..it looks like the state website is down..when it comes back up I'll give you exact link..:)

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  • 4 weeks later...

Update... Tomorrow I will be talking to a lawyer about my situation with Arrow. They have two violations on two different accounts. I do want to go to court, but I would prefer to have a lawyer do it, I really don't know ANYTHING about court cases, etc. I don't think I could keep up with all those motions, discoveries....whatever all that stuff means....

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Thanks for the update....I'm really excited to see what you can do with Arrow. I have them on several violations, myself, and they are still ignoring me. I'm doing the whole AG/licensing board/bbb reporting when my next 30 days is up (in about a week).

Keep us updated please! And...GOOD LUCK! :D

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Here is an update of my suit against Arrow.

1. I filed suit January 21, 2004 citing FDCPA and Texas Finance Code violations.

2. Arrow hired a Texas Attorney to represent them. In their answer to my suit they made a "General Denial" to my claim and they counter sued me for the alleged debt and attorney expenses.

3. In my answer to their counter suit I claimed protection under the Texas Government code that Prevents a debt collector from filing suit against you in small claims court. and I claimed that the alleged debt is beyond the SOL of four years.

A court date has not been set yet and I have not heard from Arrow. I thought by now they would try to settle out of court. Oh well I am fully prepared to take it as far as they want to go. I will keep everyone posted.

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I received a call at work from them on Tuesday. I advised the lady that I could not receive personal calls at work, the only information provided by this lady was that it was a CapOne account and that she was with a collection agency. No other information regarding balance, OC address, their address, etc.

Then on Friday, within 15 minutes I received 1 message at home and 2 at work from someone else at the company. I called back Saturday and spoke to someone else (apparently she was new - she was too nice and too eager to give out information). I advised this person that I had received a call on Tuesday at work and then I received 3 calls on Friday from the same man. She acknowledged that this man called me three times (FDCPA violation? - attempt to harrass) and even gave me the times that he called (3:58, 4:03, 4:05). I asked her when the documentation was sent out on the account because the 5 day mark from original communication had passed. She said that they have not sent out any letters to me. (another FDCPA violation? - not providing written notice of debt within 5 days of initial contact)

Furthermore, this person did not disclose the "This is an attempt to collect a debt,..." speech until the end of the call. (another FDCPA violation? - shouldn't this speech be disclosed at the beginning of a call. I also think that she was recording the conversation without asking my permission to do so., but I currently have no way to find out, unless this goes to court.)

I am sending Arrow a letter out tomorrow advising that the debt is disputed and requesting a copy of the signed credit application, etc. I disputed this account with CapOne, and they have yet to provide a signed credit application, among other requested items.

Should I start off with a letter to Arrow stating the FDCPA violations and send the copy to my Attorney Generals Office and a file a complaint with the collection agency licensing offices in both my state (MD) and theirs (IL)?

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