Arrow Financial Services - Are they good to deal with?

hiya chalie--

Arrow issued a 1099-C and now THEY claim you owe THEM? That isnt how it works....they are trying to dupe you into paying if thats the case.

A 1099-C is issued only when the debt is written off, as in forgiven. So, if you had a 3,000 dollar debt, and they offered to settle with you for $1000, they would issue a 1099-C for the $2000 that they forgave. They CANNOT then try to collect that money from you at any time, for any reason. The 1099 gives them a tax break on it because they discharged that amount--if they tried to collect on it from you after issuing a 1099-C to the IRS, then they would be guilty of attempting tax fraud, as well as the FDCPA violation. I would definitely make the IRS aware of what is happening if I understand you right....they cannot have it both ways like that!

Regarding the 1099-C, I'm sure what the poster meant to say is that the IRS is hounding him about the money they say he owes to the IRS. I'm sure what happened is that the poster moved from the time the debt was settled to when the 1099's went out. Because of this it may have never gotten to them. Either way the IRS will get their money, trust me they always do.

I know a lot of you hate AFS but in reality they are doing a job that is unfortunately a necessity in the type of society we live in. I'm not going to point any fingers at anyone and I know that mistakes do happen and fraud by ID thieves is very prevalent, but do you realize that because of people and businesses in America not paying for the debt they owe it costs you an extra $7 for every $100 you spend? That adds up to $1,750 every year if you only make $25,000. I don't know about you but I wouldn't mind a $1,750 raise to go on a nice vacation with my wife. Morale of the story, if you owe the money work out something with your original creditor so that these debt collection companies can go out of business and everything in our lives becomes better. Unfortunately if you are on this site then you are past that point. My advice if you do not want to deal with Arrow is to contact the original creditor and have them repurchase the debt from Arrow so that you can deal with them. I know that I personally helped one person do this while I was working at Arrow. She didn't like the previous reps that she had talked to and contacted the original creditor. She called in and I got her on the line, told her to get the original creditor on the phone and call back 3-way. After I talked with the original creditor and directed them to the right place to get the debt back I felt like a real human being again (and I was the collector!!).

Thats all well and good, but let's face facts here. Regardless of the need for a debt collection industry, there is no excuse for that industry, and more specifically the company you used to work for, continually breaking federal laws in the process.

You need to take a properly produced document for your State, requesting them to produce evidence that you owe them the debt. Listen I said "Them" you need to make your case that you have never entered into an agreement with ARROW FINANCE. Forget about the original creditor. You also need to submit a proper document asking the court to dismiss the case with prejuduce. State that you don't know them and they have failed to properly produce evidence of the debt. Tell the courts you have NEVER done business with them as well as NEVER entered into a contract with them. You to make them produce documentation that you said you would pay THEM back, not the original creditor. Good Luck, this is not legal advice this is just the way I would do this.

I see that this is from 2007 but was wondering what happend. My husband and I recently received papers in the mail for 2,650.00 and its from Arrow Financial Services. We have never borrowed money from a company and don't own any credit cards. I was researching the name and stumbled apon this scam, just wondered what happend! Any suggestions? This letter came from Morgan & Pottinger, P.S.C in Kentucky and we live in IN!

just wondering, i got a call from a lidigation attorney representing arrow financial today, and he threatened to press three charges against me in my county and state, over a $250.oo debt today. Is this possible, and can they put you in jail over this?

This is not legal and an attorney can not "press charges." This is a civil issue and if they have threatened criminal offenses you need to contact an attorney immediatley. Write down what was said so you do not forget. If you have caller id take a picture of the number they called from. You should Google the number, I will bet you its another collection company and they are probaly affilated with Arrow or their parent company. If you find out a name let us know and we can give our advice. Good Luck

His name was Anthony Codero, and he said he was from Carey Law Firm, a litigator there. I had a bank account that i had recieved a pay day loan from, but had to close the account due to excesive overdraft fees after I lost my job. Arrow, in turn, did not get their money for the payday loan. This was two years ago. What excactly can they do?

kinda weird, i looked up the toll free number he called me from, and there is no listing. you'd think that if it was "Carey Law Firm", they would list their number!

You must be talking about Arrowhead, they are a payday lender and usually aren't licensed to lend in most states. If this is what they name of the company actually is, then we would need to know what state you are in, then we can tell you if they are a licensed lender or not.

I am in Oregon

I'm trying to settled my account thats in collections please help me with this matter.#30957083

Hi,

I also received an "out of the blue" notice from a lawer in north Texas on Jan 20 representing Arrow Financial Services for an old WaMu credit account, which apparently was a technical error because I went to WaMu in 2006 to expand a line of credit on a card, when infact, WaMu opened a new card and didn't close the old card. I remember the balance transfered to the new card, but I guess the old card wasn't closed out WaMu closed a long time ago and I paid in full on the newer expanded credit card Even so, I would have paid the older card too, but wasn't aware it still existed. I cut it up.

So, I have 35 days to respond/pay or dispute, but on the letter, it greets me as "Ms." ... I'm male, not female. Could this be an issue of technicality? I haven't been sued yet, but just informed I will be sued if I don't pay up.

My debt is over $1,100 and there's a law firm in my area (Tom M Thomas II), which has won many cases against Arrow Financial (as well as the local law firm representing Arrow; Michael J Scott), but their rates are close to $1,000 - $1,200. Either way, I'd be paying someone. I'm just afraid if I send money to Michael J Scott via their PO Box method, which I DO NOT TRUST, Arrow will not send back a receipt of PAID-IN-FULL. I feel I'll be ripped off. I'd like to simply settle, which is very expensive, but I wish I could settle with the original creditor (which is now Chase Bank).

Any ideas are welcome! Thanks! Congrats, Shazzers!

--Keep your stick on the ice!--

I beat Arrow in court. The debt was outside the SOL limits in my state and told their attorney numerous times....but they took it to court anyway and claimed I had made an electronic payment in the past 3 years....the judge asked for a copy of the payment as did I....the attorney said they had requested a copy numerous times from Arrow with no success...case dismissed....they have to produce proof of payment within your state SOL....you need to request that from the law firm in writing and have a copy for court...Arrow apparently will just make a date up and that doesn't fly in court.

Send them that debt validation asap!! Make sure you send it certified, return receipt requested, and I would also include a copy of the letter of collection they sent to you (which should be dated). Another thing I do, when I take the letter into the post office to be mailed, I write on the green card "1st validation request". I also write in all caps: IMPORTANT POSTMAN-PLEASE DATE!

One more thing, give them about thirty days to reply to the debt validation request, then send out another debt validation letter and do the same thing on the green card only this time write "2nd validation request".