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Account turned over for collection

Date: Thu, 06/14/2007 - 13:19

Submitted by muddydekes
on Thu, 06/14/2007 - 13:19

Posts: 29 Credits: [Donate]

Total Replies: 11


I found out that an account had bee sold to Arrow Financial and contacted them by phone before recieving a letter. I was asked to wait until recieving a letter which I did and sent a pay for delete/settlement letter. I sent CAjun's sample letter within the 30 day notice that they asked.

They have infomred me that it is not in their power to not list an item or to remive an item once psoted. They are currently not shown on my report and I amy still be able to before they post.

I guess I am going to have to dispute letter them and see if they show up. I woould think it best to wait and see if they do post if I dispute prior to them posting.

I have not acknowledged the debt and in fact have made sure to say I am not acknowledging a debt every time I talk to them as guided.

Any one else have suggestions?

They do have a bad reputationa nd in fact have had to pay fines in the past. I believe perhaps they have in the last few months.


So far you haven't got the debt validated by Arrow Financial, right?

Don't pay or make any agreement until you have the proven information that this company is authorized to collect on your account. Any reporting done on your credit will be based on the fact that they have genuine reasons to collect on your account.


lrhall41

Submitted by Johnson4485 on Thu, 06/14/2007 - 13:40

( Posts: 399 | Credits: )


No they have not validated the debt. They have not posted on my report.

I guess I file a dispute letter for full and complete validation?

I am trying to get them to settle it before reporting it.


lrhall41

Submitted by muddydekes on Thu, 06/14/2007 - 13:43

( Posts: 29 | Credits: )


I have called and talked to them twice ..They have been accepting payments from a debt consolidation company from me on an every 30 day basis for over 18 months, They said they had sold it and could not help. MAybe they still can????

It doesnt cost me anything to keep trying. I can pay them in full.....


lrhall41

Submitted by muddydekes on Thu, 06/14/2007 - 14:39

( Posts: 29 | Credits: )


Quote:

I found out that an account had bee sold to Arrow Financial and contacted them by phone before recieving a letter. I was asked to wait until recieving a letter which I did and sent a pay for delete/settlement letter. I sent CAjun's sample letter within the 30 day notice that they asked.


Maybe just my opinion, but I think you put the cart before the horse by sending a settlement letter first. Before doing this, you always want to make sure that the CA you are sending it to legitimately has authority over this debt.

Quote:
They have infomred me that it is not in their power to not list an item or to remive an item once psoted. They are currently not shown on my report and I amy still be able to before they post.


This is a lie. They lied to you here. Your OC told you that they "sold this debt", as you said elsewhere. That means this CA is not only assigned to collect on the OC's behalf--it means that they own it. They have every right under the law to make entries on your credit file, and they are bound by law to remove entries under certain conditions. Don't let them tell you BA information that serves their purpose. They own the debt, and they can report it anytime they choose.

Quote:
I guess I am going to have to dispute letter them and see if they show up. I woould think it best to wait and see if they do post if I dispute prior to them posting.


Not so much a dispute, since you already sent them a letter off the bat claiming responsibility for this debt. A validation letter is perhaps what will work best for you--you want to ensure that they have the legal right to collect the debt, that is the biggest issue in my eyes, since you say here that the debt is yours.

Quote:
I have not acknowledged the debt and in fact have made sure to say I am not acknowledging a debt every time I talk to them as guided.


yes, but you did send them a settlement letter first. A letter that states "I can pay you this much" clearly shows your belief that you are in fact obligated to pay this debt.

Send out the validation letter, and see what they come back with.


lrhall41

Submitted by skydivr7673 on Fri, 06/15/2007 - 04:41

( Posts: 2036 | Credits: )


I guess you could take it as admitting the debt although I used Bulldogs letter that clearly states that I do not admit the debt as mine and that I will require validation if they do not accept my offer.


lrhall41

Submitted by muddydekes on Fri, 06/15/2007 - 08:45

( Posts: 29 | Credits: )


I see what you are saying about the letter, but the average person is not going to agree to pay off a debt unless they either know it is theirs, or if they are being harassed to the point where they think it is the only option. Neither one is what you are trying to claim. You sent a settlement offer immediately upon hearing from them. Maybe it is just me personally, but there is no way that I myself would send out a payment offer to a company, immediately once they begin trying to collect, and then reiterate that the debt is "questionable" in nature. You just played your hand in front of them--if the debt is so questionable, they would have a hard time collecting on it, but you just offered to hand them money for an unverified debt. Since much of this would rest on the opinion of a judge or jury, if you go to court, this one letter could lose it for you. yes, you said that you are not admitting to the debt, but if this went to court they will go in front of that judge and say "he offered immediately to pay us--why would anyone do that if the debt was not theirs?". And their point will be taken.

Hopefully, they will not try to mess around with you on this. The first step in my opinion with ANY CA that begins trying to collect from you is validation. Even if you know the debt is yours. This is because validation makes them prove that they have the legal right to collect on this debt, which is very important. I hope I didnt come across like a jerk to you--not trying to be one, just stating an opinion. Once you know the debt is yours and you know they are authorized to collect it, then that is the time to try to settle. It is possible that you just got a faster resolution to this account, though. Good luck, and keep us updated.


lrhall41

Submitted by skydivr7673 on Fri, 06/15/2007 - 14:51

( Posts: 2036 | Credits: )