Internet's first get-out-of-debt community - 196,000 members

a freeman · 11-15-2005, 07:57 PM

As I stated in a previous post, I am climbing out of the payday loan trap. There is one that I can not find any information on, including an email or letter in my files with my account information.

I cant find them on the internet either! I have a feeling it was another name I applied to, but no contact info for Arrowhead.

Teleport · 11-15-2005, 09:31 PM

a freeman

Was this a payday loan company that you applied with?

I did manage to find a company that went out of business with an address located in Minneapolis, MN.

Regards-
Mike

a freeman · 11-15-2005, 09:48 PM

Well, in a round about way, I never applied to Arrowhead - but that's the name on the debits!

I assume that they will contact me as I have put a stop payment on any debits they try to make - I just wish I had a number or address so I can call them instead of waiting for the harrasment.

roxette · 11-16-2005, 09:10 AM

Hi

Welcome to the forums.

Have you checked the status of this account in your credit report?

If the company you mentioned is a payday loan company then this is the address to contact them.

Arrowhead Investments, Inc.
32 W 200 S # 350 PMB
Salt Lake City, UT 84101-1603
(866) 355-7308

Regards
Roxette

Information edited. Arrowhead Investment and Arrowhead Collections are different entity. Address of Arrowhead Collections in response to Original Poster's query on Arrowhead Investment was creating confusion among many viewers. As the information was not pertinent regarding the thread so admin felt its necessity to edit the information - Vikas

a freeman · 11-16-2005, 11:27 AM

This has not been reported on any of my credit reports as of yet. I'm keeping an eye out!

ben · 11-16-2005, 01:42 PM

Be aware of all the scary tricks used by the debt collectors. They will try to intimidate you but as long as you are using your federal rights and willing to pay a debt that is legitimate, they can't do cause harm.

This forum has lots of good information on how to deal at various financial situations. Go through these pages taking some time out from your schedule. It will be worth going through the posts.

11-27-2005, 03:38 PM

I had one too. It took forever to find the information because they mailed a statement once and then I received nothing else. However, I finally found the statement today. The phone number is 1-866-355-7308. fax# 1-866-379-7667. Good Luck!

a freeman · 11-27-2005, 03:53 PM

Oh Lynn, you have made my weekend (aside from the good leftovers). I beleive I have paid my loan off twice over with them - and have not heard from them since I put a stop payment on their debits. I am excited to finally be able to contact them!

a freeman · 11-28-2005, 12:02 PM

I called Arrowhead this morning after going through my records to see how much I've paid them. The original loan was for $200.00 and had paid $1140, until I put a stop payment on them! How embarrasing to not have taken care of this sooner.
Anyhow, I called and spoke with a woman and she told me the orig loan amount, and said because it had just kept refinancing, I still owed $260 dollars. I asked if she would give me the mailing address, & if she would also please send me a debt validation letter. Before I could even explain that I wanted to see the principle, interest and how they'd applied my payments - she asked me to hold.
When she came back on the line, she said that she had just spoken with her supervisior, and they would be able to "settle" my account - stop all debits and mark it as Paid as agreed & just close the loan without incident. I asked for her to please send me a letter, on their letterhead, to that effect via US Mail. She agreed.
Do you think that because I asked for the validation letter, she decided to settle the account? I imagine that would look very, very strange on paper.

ben · 11-30-2005, 09:40 AM

a freeman

Go through the paper very thoroughly. Do not miss a single line stated in it. If everything sounds good, you can plan ahead with the deal.

12-01-2005, 10:08 AM

I paid them over $1,000 in interest payments. I too could not find anything on them. I am stopping all debits to my account as they have gotten more than enough money from me.

ben · 12-01-2005, 12:20 PM

Kim,

It will be better to close the checking account. Later when the company will contact you, request for a statement showing the complete break off of the payment made from your side before you consider paying further.

After they have itemized each and every detail, it will get clear that you have paid much more than the due amount and this will perhaps give you chance to claim for a refund.

12-06-2005, 02:01 PM

I will close the account tomorrow and have all payments stopped. How could I possibly claim a refund from them?? I don't know if I made a mistake, but I called them once I saw the number on the thread. They did send me a copy of all payments made. I still plan on closing the account ASAP.

ben · 12-06-2005, 02:19 PM

Kim,

Go through the agreement contract and see the calculation of interest. Review the payments that you have made and see if you have paid more than what was actually owed after taking all the interests into calculation.

If you think so, write a letter to the company and explain them about your payments. Claim for a refund and wait for their response.

12-08-2005, 07:34 AM

Call me stupid, but can you tell me how to correctly calculate the interest? I would love to get some money back from them.

ben · 12-08-2005, 08:58 AM

Kim, you have to refer the agreement contract that was signed with this company. The rates of interest vary from one company to another.

Calculate the rate of interest on the principal amount and for the period you have taken the loan. Compare this with the payments that you have made so far. Claim for the refund on the additional money you have paid in this account.