shootingfor700 Posted January 16, 2008 Report Share Posted January 16, 2008 Good evening all. I just received a collection letter from Arrow Financial in the mail for a very old online school debt that I forgot all about. I believe that when I went to be preapproved for a mortgage 2 weeks ago, it started to bring colletors out of the wood work. Anyway...I have been looking and looking on the site for detailed directions on where to start with this issue, and even though I know I have read them before, I can not seem to find them. Can someone please assist me? This account does not show on my credit report and I would like to do everything necessary to keep it that way. Thanks in advance. Link to comment Share on other sites More sharing options...
isislc Posted January 16, 2008 Report Share Posted January 16, 2008 My fiance just received a letter from them which will allow him to rehabilitate his loans. If this is a federally backed loan, I would recommend you try to clear it up as soon as you can. Link to comment Share on other sites More sharing options...
shootingfor700 Posted January 16, 2008 Author Report Share Posted January 16, 2008 Thanks for the replies. It is not a federally backed loan. I signed up for a online college class about 3-5 years ago (guessing) and it is now catching up with me. I will following the flow chart and keep you all updated. Link to comment Share on other sites More sharing options...
shootingfor700 Posted January 16, 2008 Author Report Share Posted January 16, 2008 Sorry, I prematurely posted the last reply before asking a question. I seen this flow chart and didnt use it because it seems that it is for dealing with the CA AND the CRA. Do I contact the CRA right now, even though they know nothing about this account? Here is were I get confused. I have had so many baddies removed from my credit report....but I do not know where to start if they have not hit my report yet. Thank you Link to comment Share on other sites More sharing options...
shootingfor700 Posted January 17, 2008 Author Report Share Posted January 17, 2008 Thanks for all of your help. Link to comment Share on other sites More sharing options...
ShortBus Posted January 17, 2008 Report Share Posted January 17, 2008 FYI... Arrow is a JDB, not a CA. They wouldn't pursuing anything that was a federally-backed student loan. Link to comment Share on other sites More sharing options...
Jason Posted March 15, 2008 Report Share Posted March 15, 2008 Sallie Mae acquires majority interest in Arrow Financial Services Transaction marks continued expansion of company's debt management operations RESTON, Va., Sept. 17, 2004—SLM Corp. (NYSE: SLM ), commonly known as Sallie Mae, today announced that it has acquired a majority interest in Arrow Financial Services, a full-service accounts receivable management company that purchases charged-off debt, conducts contingency collection work and performs third-party receivables servicing across a number of consumer asset classes. “Arrow Financial brings a wealth of assets to our debt management organization, including experienced management and a highly successful modeling capability,” said Thomas J. (Tim) Fitzpatrick, president and chief operating officer, Sallie Mae. “The acquisition extends our reach in the debt recovery industry and expands the services we can offer our customers.” The purchase price was not disclosed. The transaction is expected to be immediately accretive to 2004 earnings, and the company expects it to contribute between $.05 and $.07 per diluted share in 2005. Under the terms of the agreement, Sallie Mae has the option to purchase the remaining interest in Arrow Financial Services over a three-year period. “We are proud and excited to be joining the Sallie Mae family,” said Jack Lavin, president and chief executive officer, Arrow Financial. “This relationship will open doors to new customers for our growing business.” Arrow Financial employs nearly 1,400 individuals at locations in Niles , Ill. , Gaithersburg , Md. , San Diego , Calif. , Whitewater , Wis. , and Rockville Centre , N.Y. The company was founded in 1961 and has been under the continuous ownership and management of the Lavin family. It will retain its brand, successful strategy and senior management team. http://www.arrow-financial.com/index.asphttp://www.arrow-financial.com/html/News/index.asp#1If you look at the career section of the web site it switches to Salli Mae.Just some interesting info. Link to comment Share on other sites More sharing options...
BTO429 Posted March 15, 2008 Report Share Posted March 15, 2008 Cal Sallie Mae they are real easy to deal with and will help you.I have had to call them more than once and they corrected my CR to show I have paid on time. Link to comment Share on other sites More sharing options...
carol Posted March 15, 2008 Report Share Posted March 15, 2008 Must share this.A few years i have been dealing with Arrow. Sent all needed letters to Arrow and credit bureaus and was always coming back verified. Arrow had never responded and would not remove me from Credit bureaus.Finally with the advice from this board i had made a complaint with the BBB.Sent them copies of all letters and green cards.Yes, finally got a letter from Arrow that the account for 300$ is closed and will be removed from the Credit bureaus. May I say thanks to all, CarolOh, credit report was a mess,wonderful people on this board helped me Link to comment Share on other sites More sharing options...
Magdalen77 Posted March 15, 2008 Report Share Posted March 15, 2008 Must share this.A few years i have been dealing with Arrow. Sent all needed letters to Arrow and credit bureaus and was always coming back verified. Arrow had never responded and would not remove me from Credit bureaus.Finally with the advice from this board i had made a complaint with the BBB.Sent them copies of all letters and green cards.Yes, finally got a letter from Arrow that the account for 300$ is closed and will be removed from the Credit bureaus. May I say thanks to all, CarolOh, credit report was a mess,wonderful people on this board helped meYeah, I did the same thing. I reported Arrow to the BBB and the IL Attorney General. I don't know which worked, but I got the letter saying that they acknowledged it was not my account and it would be removed from my CRs. I'm saving that letter in case Arrow was sneaky and sold the account to another JDB.I have to say, though, Sallie Mae and Arrow, wow, that's a match made in hell. Link to comment Share on other sites More sharing options...
ABaldbrotha Posted March 15, 2008 Report Share Posted March 15, 2008 (edited) I too had a long battle iwth them. I got them off my reports after hitting them from every direction. Thanks to all on this site who helped.________BEST BATTERIES FOR MFLB Edited May 15, 2011 by ABaldbrotha Link to comment Share on other sites More sharing options...
ScrewedinWV Posted March 15, 2008 Report Share Posted March 15, 2008 I have also experienced Arrow. They came after me on a settled debt. They insisted they were not a JDB, but after I specifically said I knew they were a JDB and that they'd bought a debt that was settled previously, they got MAD!!!! I sent them (and the OC) my copies of my finalized paperwork and Arrow disappeared. The thing is, though, that when I told them to not call me and they had to DV for me to believe they held the rights to this settled debt, they told me all this jazz about how they didn't have to DV since I hadn't talked with them on the phone before that date. They also threatened lawsuit. I believe they are strongarming a lot of people out there, but if you ask for DV and discuss the JDB angle, they seemed to back off and almost hit reverse on me. I haven't heard from them again for quite some time. Funny thing is, I think they bought a paid off debt. That makes me happy inside. Link to comment Share on other sites More sharing options...
carol Posted March 16, 2008 Report Share Posted March 16, 2008 As I had said, Arrow will be removed but the OC was on credit report as well. Will the OC come off as well ? I guess I have to deal with the OC next. Just thought of this today. Thanks, Carol Link to comment Share on other sites More sharing options...
NASCAR_Devil Posted March 17, 2008 Report Share Posted March 17, 2008 As I had said, Arrow will be removed but the OC was on credit report as well. Will the OC come off as well ? I guess I have to deal with the OC next. Just thought of this today. Thanks, CarolThe OC does not have to remove their TL until reporting period has expired - 7.5 years from DOFD Link to comment Share on other sites More sharing options...
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