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Spoke to a CA and really messed up, HELP ME


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I found and joined this forum yesterday (Saturday)

Friday, I spoke to a CA regarding an old Household Bank card. The CA assignee is First Financial/Arrow. Anyway, I promised to pay them 600 dollars TUESDAY 6/13---I even gave them my checking account number so they can withdraw it. After reading some of these post this really scares me.

It'is not that I don't want to pay, I do I just want the CA deleted from my report because Household Bank the OC is reported on my CR. I also know that if I go ahead and pay them that the CA will never come off of my report. I obviously am going to have to call them tomorrow and see if I can make some other arrangement.

What can I say or what can I do?????????????

Please help

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Call and tell them you have to make a different date for the payment and then Close your bank account!

Never speak to another CA on the phone ever.

I think all are scumbags, they make you feel as tho you are the lowest person on earth for not paying.

Must have gotten you emotional to give up your bank account number.

I tell you right now that, if you owe more than $600 they'll most likely take all that you owe.

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I have been dealing with Arrow/ HSBC for awhile. I requested Debt validation in April. In May they sent a computer printout (not Legal validation) Someone will be along to your post soon that can guide you... DO NOT panic... everything is fixable. Be patient, help is on the way... Buy a copy of Kristy's book... read it, then read it again. Layout some more info on your situation... when was the Date of Last Activity? Statue of limitations? If you pay Arrow anything, even a dollar, you will restart the clock on youe state's sol. What state are you in? You told them to debit on Tuesday... ? They may try (underhanded) to debit on Monday. How long has Arrow had the account? Put out a little more info so the Pros can assist you quicker. Looks like your'e searching for Damage Control... I would be too. To panic though, is counter productive... stay focused and stay calm... btw... you did not sign a contract w/ Arrow to collect this debt or to debit your account. (Maybe verbal? Was this call, by your knowledge being tape recorded?)

If you cannot close your bank account Monday early A.M. and they debit, if you have a Visa or MC logo you might be able to dispute the debit (?) and get your $600 back... if so, get it back and take a deep breath... then begin. Sorry to have written so much... Just Do Not panic...

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I bought the book the same day that I joined, should be here Tuesday.

I did not sign a contract for this but I do believe that it was tape recorded. I live in the state of KY and I looked up tape recording laws and it said that I had to consent which I did not........but I knew it was being done.

A little more background. I have been speaking with a rep since the end of May. I promised that I would pay 500 dollars as long as the account reflected paid in full and I got written documentation to verify our agreement.

When I got the letter/documentation in the mail I called my rep to let him know that I received the letter as promised. I asked my rep if I could get the account deleted, he didn't know and put his supervisor on the phone, this was Friday. (hadn't found this board yet---extremely naive and wanting a house) His supervisor gets on the phone and takes all kinds of personal information, which did throw up some red flags but he told me that in order to get the paid in full status he needed to know my monthly bills (somewhere in my shock and confusion I forgot about the deletion). Finally he said 600 dollars would get the account the paid in full status and asked for my bank account and a check number which I gave.

My letter that I referenced earlier had said that I only had to pay 500 dollars. So the next day (Saturday), I find this board, start freaking and called Mr. Graham and left a message on his answering machine to call me back.

This is an old HSBC account my credit report reads as:

Balance 925

Date updated 05/06

High Balance 925

credit limit 0

past due 925

pay status: CO/bad dbt

Date open 12/03

Date closed 12/04

Arrow financial collector for this account reads

Balance 906

Date updated 05/06

Original Amount 543

OC: A F S Assignee of First Pre Mi

past due 906

pay status: collection amount

date closed 05/06

*I disputed the HSBC account on my own in May.

I do not know KY's SOL nor where to find it.

Does this Help any................How reputable do you think they are. Will I have to close my account or can I just stop the check?

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If you did not consent to the taping there's no evidence RE that.., you have more immediate fish to fry right now anyway... Monday AM go to your bank and speak with your Banker... not a teller... explain what is going on. Bankers will be compassionate because they don't want you to pull your $. False compassion but compassion none the less. Ask them to close your Account and place your funds in a savings account till this immediate storm blows over. You are under no obligation to call Arrow... again NEVER speak w/ a collector. these people are genetically geared to aggrivate. Arrow ( I hate to even capitolize their name...) will call you soon enough. You can by law (Fair Debt Collection Act) tell them not to contact you by phone... only by letter. Then send off the letter found on page 369 of Kristy's book.

RE: Statute of Limitations... you are under an open ended account (Page 331) "G.C.I. SEXY". KY SOL is 5 years from the date of last activity. HSBC is reporting date closed as 12/04. This is not neccessarily the date of last activity... but as it stands, 12/04 to 12/09 plus or minus.

Now if you entered correctly the date Arrow is reporting as "Closed" , Arrow may be attempting to break FEDERAL LAW (geez, would they do that?) by re-aging your debt... (basically changing your SOL.)

That is a violation on their part which can PAY you... You really need to read Ms. Kristy's book AND sit up late nights studing this site.

So your action plan to stop the bleeding, as it were...

Monday AM go to your bank (not a call) and speak to your Banker... not a teller. Humbly explain your position ( although you are under no obligation to say a word about anything personal) and ask to transfer your funds, temporarily, to a savings account and Close your current checking acct. If you simply bring your "availible amount" below $600. you could face issues regarding insuff funds. Just close the dog gone thing... and if you leave your funds in your account, timbuckthree was right... Arrow could suck the entire ammount right of your accunt. Would that be moral? Remeber, these are CA's. If there's an availible turnip, it will be a CA's mission to start the bloodsucking.

Then go back to your car and take a deep breath... inhale... exhale.

When you get Ms. Kristy's book RUN to Chapter 21: Negotiating Yor Debts For less Than you Owe... Remember, what Arrow is offering, " A paid in full status" is as worthless on your Credit Report as a charge off. The reason the "manager" (boy, that gags me) wanted to know about your "Monthly bills" (gags me again) He was evaluating your ability to pay... My goodness, your 'personal bills'. chica una, is your business ONLY... Geez, I'm gettin nausus... He figured he'd hit you @ $600 to see if you'd dance... stop the music.

I was shocked to learn collection agencies pay, on average, 6 cents on the dollar.... Ie: your $600.00 "Debt" (that even has NOT been legally validated to begin with) cost Arrow approx $36.00... I hope this isn't too much reality for you. My guess is Arrow bought your acct. from HSBC...

I say this because HSBC sent me a letter (upon my request) informing me that the acct. had been sold to Arrow and that I could "Kindly forward my payment to Arrow." (GAG, GAG) If I had sent Arrow one dollar, this would have started the SOL clock ticking anew... another 7 years under these creeps thumbs... I'm cool.

Again, I do know a little but am no expert as many here are... I am merely trying to calm you and buy you some time. Again, take a deep breath... You have more legal power than you reolize right now. DO NOT be intimidated by Arrow or any CA. When they reolize a consumer knows their rights, they back down and go searching for another turnip, Victim... remember... You are NO victim... you'll be fine.

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You have two issues, it seems:

1. You owe the money and want to pay it off. That is positive

2. You want the Arrow mark to be removed from your CR.

You are not going to get a PFD from Arrow, imo, particularly now where there is history between you and them. Read teh book, try to get the Arrow item removed . Keep that money handy!

By now, you have talked to your bank and did something with teh account. if they have already pulled it, DISPUTE the trasnfer with your bank under the EFT law as well as thw FCBA. Call, see your banker, but do not forget to send thema letter by certified mail immediately when you find out the money has been taken. That should stop the payment, or at least suspend it.

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Thanks for all of your help, I closed the account this morning. I think I may have gotten myself out of a bad situation. FINGERS CRSOSSED My next step is to dispute and verify the account.

I just got the book in today (ordered it Saturday--really fast delivery) and I will be studying a while.

Again, thanks so much for the help!

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That's great news... (closed acct.) FYI... Recovering Attorney is VERY knowledgable... That is what's so awsome about the people here... They freely give their time and energy... and quickly... you'll learn though they expect us newbies (to the forum) to self educate, as it should be... But if you get stuck... help is usually a post away. Recieving Ms. Kristy's book is a giant step forward... Breathing room is a good thing... helps with rational clarity... best of luck Got FICO?

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Great to hear you got it closed. CA will be PO'd that you did :lol: , but it's your money.

Dispute ASAP. If you get it in writing that they'll delete upon payment send them a money order or cashier's check.

If and when you send payment, send it certified mail, return receipt requested. Send all correspondence this way to them if needed.

Also like I said before don't talk to them on the phone just letters only.

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