schankia

Arrow Financial Letter

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I received a letter from Arrow financial after contacting the BBB stating that they would consider the complaint as a request to validate my debt. The letter went on to say that they will request documentation from the OC. They also said that while they are waiting on this info that they would cease communication, and request that the CRA remove any negative info that they have reported. I have a few questions. First does this mean they will actually remove the debts from all 3 of my reports and if so how long should this take. Second, the debt is from First Premier so what's the chances of them actually getting the documentation from 2001.Finally, this came from a lady who listed her title as corporate counsel so do this mean they may be seeking legal action against me?

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It prob. means they will just go away. There is however a fair to middlin chance that FP may cough up your records. But, considering the age of the debt, it is probably beyond the SoL anyhow.

It is not unusual to have legal counsel answer BBB complaints, because BBB records are essentially public records that can be used aainst them in class action suits.

It looks like you won and Arrow will just go away in the next 30 days or so.

-r

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If they said that they will remove all negative info from your cra's then they should but thank God you have that letter because they still may not which is common. So you are going to have to send a copy of that letter to all cra's!! First Premier owns Arrow in case you didnt know so they should have access to all documentation!! Dont panic this doesnt mean they are taking you to court but if they do they must indeed validate the debt so wait for them to send you validation. But dont panic this sounds like this debt is very old i dont what the statue of limitations are in your state but in most states its 3 to 6 years from the time you were first 30 days late. Now you said they can go back 5 years that means the staue is about to expire thats why there contact you hoping you dont know anything about statue of limitations. But if they take you to court it will be to late. So dont worry even if a court date is set you tell the judge that the debt is out of staue( your credit report is proof) and the case should dismissed and it will be!! But its unlikely it will come to that!

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