Jump to content

Maybe I shouldn't have done this... Help!


Valkyrine
 Share

Recommended Posts

I needed to settle a JC Penney account; I called JC Penney and they referred me directly to the CA Arrow. I called (I know, just slap me now!!) and spoke with collector dude. I talked him down to the original amount I owed JCP, not the amout Arrow wanted ($100 more).

Here's my question: we argued back and forth about deleting this account from my CR. Arrow is NOT currently on any of my CRs; he didnt know that. He told me I could send a letter to all three CRAs with his contact info, and he would have it removed for me. IS THIS POSSIBLE? Or did he just blow smoke up my a$$ to get my money??

At any rate, I agreed and made payment; this debt is mine and I wanted to settle it. I figured once it was paid I could dispute with "wrong amount" or something along those lines if and when it did show up on my CRs.

Grrrr... did I just set myself up??

Any help/advice/suggestions?? Thanks guys!!!

V.

Link to comment
Share on other sites

I needed to settle a JC Penney account; I called JC Penney and they referred me directly to the CA Arrow. I called (I know, just slap me now!!) and spoke with collector dude. I talked him down to the original amount I owed JCP, not the amout Arrow wanted ($100 more).

Are you sure Arrow doesn't now own the debt? Arrow buys bad debts. And like all JDB (Junk Debt Buyers) probably paid pennies on the dollar for the debt.

If this is the case, you got no deal at all, and he's probably laughing his rear off because you think he did you a favor.

Here's my question: we argued back and forth about deleting this account from my CR. Arrow is NOT currently on any of my CRs; he didnt know that. He told me I could send a letter to all three CRAs with his contact info, and he would have it removed for me. IS THIS POSSIBLE? Or did he just blow smoke up my a$$ to get my money??

If that's how it worked, it would be great. Sadly, it's not. His contact info means nothing to the CRA.

At any rate, I agreed and made payment; this debt is mine and I wanted to settle it. I figured once it was paid I could dispute with "wrong amount" or something along those lines if and when it did show up on my CRs.

Grrrr... did I just set myself up??

Any help/advice/suggestions?? Thanks guys!!!

V.

You can ask Arrow for the amount they paid for it, and all sorts of good information. This case has their name on it:

Coppola v. Arrow Financial Services, 302CV577, 2002 WL 32173704(D.Conn., Oct. 29, 2002) – Information relating to the purchase of a bad debt is not proprietary or burdensome. Debtor must phrase their request clearly to obtain: The source of a debt and the amount a bad debt buyer paid for plaintiff’s debt, how amount sought was calculated, where in issue a list of reports to credit bureaus, and documents conferring authority on defendant to collect debt.

Link to comment
Share on other sites

When did you last make a payment to JC Penny?

If the SOL has expired, or you specifically request what's in Copolla, you can either tell them to go fly a kite, or put some money back in your pocket.

It's up to you. If it's not reporting, and you need to get this cleared up (ie: for a mortgage), then let it fly.

Link to comment
Share on other sites

I'm trying to fix my credit, I'm not applying for anything special. Just trying to get stuff in order for the future.

I was hoping to catch them and pay before they reported to the CRAs, thinking it just might never show up if I did. Wishful thinking, I know.

Thats what I get for thinking!! LOL.

V.

Link to comment
Share on other sites

Correct.... but since they may now own the debt, they could turn that information over to the poster and then list the account after validation was provided. Kinda a step backwards I would think.....

u no i was thinking i had an account in collections and paid it first not knowing then sent dv they deleted it was sherman guess i was lucky

Link to comment
Share on other sites

If it were me, I'd put a stop payment on the check and DV them per Coppola v. Arrow. There's nothing to say they won't report this as a settled account after receiving payment.

If it's found they in fact paid mere pennies on the dollar for the account, I just saved myself some $ to put toward other debts.

That's my personal thought....

Link to comment
Share on other sites

  • 1 month later...

Just an update on this situation for anyone that might benefit...

I did stop payment. I called the collector dude and told him what I had done, and when he asked why, I told him it was because he had lied to me.

We went back and forth for a while; apparently, Arrow had owned this account since Nov. 2004. And never reported. Never sent me anything. So... I talked him down to a lower dollar amount, certainly more than Arrow paid for it but less than the original amount of the debt. I received a statement showing this as paid in full. The payment went through and has not reported to any CRA as yet.

If I had done things differently, I could have paid a far less amount and not had to worry about it possibly being reported to the CRAs. If it shows up now, I assume I can get them on failure to notify reporting.

I feel better for having paid this debt; that was my intention when I set out on my credit repair. I wanted pay-for-deletes. Now, I realize how difficult that can be with certain CAs. I backed myself into a corner on this one.

For anyone that's new at this, the moral of the story is don't call a CA. Do and get everything in writing - upfront.

Val

Link to comment
Share on other sites

Guest
This topic is now closed to further replies.
 Share

×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.. For more information, please see our Privacy Policy and Terms of Use.