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Quick Question ABout to Settle


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I sent a AGREEMENT TO COMPROMISE DEBT to Forster & Garbus who is the a law firm representing Arrow Fincancial.

Here is my letter:

This letter is being sent to you in response to a recent letter received by your office on, October 25, 2006. Be advised that this is not a refusal to pay, but a notice sent pursuant to the Fair Debt Collection Practices Act, 15 USC 1692g Sec. 809 (B) that your claim is disputed and validation is requested.

I would like to thank you for your quick response to my concerns. However you have not validated this debt. You provided me with details on this account I have already seen with no specifics on how the balances was computed.


• What the money you say I owe is for;

• Explain and show me how you calculated what you say I owe;

• Provide me with copies of any papers that show I agreed to pay what you say I owe (Receipts, Signatures);

• Identify the original creditor & Date’ of when the account was opened, and closed; PROVIDED

• Prove the Statute of Limitations has not expired on this account

• Show me that you are licensed to collect in my state PROVIDED

• Provide me with your license numbers and Registered Agent PRIVODED

I have disputed this account with Arrow financial Services a total of three (3) times, and will furnish the USPS green cards if need be.

I do not have the time or resources to continue on in this manner and have included an agreement to compromise debt; we hope to get this issue resolve quickly and smoothly. Please review and forward this Agreement to Compromise Debt to Arrow Financial Services.

I used a AGREEMENT TO COMPROMISE DEBT and offered them 500.00 on an account they say i owed 2390.05. I offered such a low amount because they dont seem to beable to send me validation. I dont want to fight this any longer and I have the money now.

In my comprimise i stated i wanted all credit info deleted.

This is the letter i received from Forster.

"This will acknowledge that the above referenced account will be considered settled in full in the amount of 500.00 due in our office on or before 1/5/07. No legal action has been taken."

Should i respond back with requests for additions to there letter, or just pay the amount, then dispute with the CRA?. Also does there letter provide me with any comfort that the remaining balance will be sold, or be tried to collected apon?.

In my AGREEMENT TO COMPROMISE DEBT i asked them to sign and return a copy to me, but they didnt sign they sent me there own letter!! I think there letter cover everything, i just want to make sure with you guys first.

Thanks for the help


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Chris, why are you offering to settle and still looking for DV at the same time?

If the account is NOT yours, pick up the phone and call the original creditor and ask them to help you. They're not the ones who are after you.

Regarding Arrow and the attorney, the internet DV letter you are sending will not affect these guys one bit. They've seen that letter a million times.

Get the info you need to prove the debt isn't yours, then proceed accordingly. If it is yours and you want to settle, just make sure you know who owns the debt before you start throwing money around.

Good luck!

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Well the debt is mine, and offering to pay 500 rather then 2300 is hard to resist. How do i make sure these lawyersare the ones to pay. I am under the understanding they are representing arrow.

The way i see it is, they cant completly validate, they have accecpting my settlement offer for much less then the fill amount. I would keep fighting this, but like i said the debt is mine so this gives me some peace of mind to make good on it.


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1. It does state something to the effect of "full settlement" so legally you would be covered if they do try and sell the remainder to another CA for further attempted collection. In which case, you can send proof of final settlement (copies of-documentation of offer, your acceptance, and your fulfillment) along with a C&D - shouldn't hear from them (or others) again. I have had to do this.

2. This letter does not commit to any specific CRA reporting; in which case they'll probably report as "Paid charge off"

3. If it's yours...whether you settle now is your call...trying to get them to change reporting afterwards can be a nightmare...my experience with those that I "just paid" (and those that agreed to delete!) is that they reported as a "Paid charge off" and seem unwilling to get the reporting right...

Best of luck

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It does say "This will acknowlege that the above referenced account will be considered settled in full in the amount of 500.00"

So this protects me from them reselling and if it does it would be easy to fight. I think i am going to settle now and try to get it cleaned off later.

Thanks For the help


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