Since April I've been dealing with this CA called ARROW FINANCIAL SERVICE I sent them in April a Validation letter Cert. mail return receipt. I never heard anything since then just last week I found this listed on my report. What is my next move? Can I sue? Someone told me I could sue for $1000 Is this True? Do I sue in small claims court? Please help! Thanks! Arrow Financial Services Address: 7301 N LINCOLNWOOD LINCOLNWOOD, IL 60712 Account Number: Original Creditor: A.F.S. ASSIGNEE OF METRIS Status: NO STATUS. Date Opened: 04/2001 Type: Installment Reported Since: 09/2000 Terms: NA Date of Status: 09/2000 Monthly Payment: $0 Last Reported: 07/2001 Responsibility: Individual Credit Limit/Original Amount: $725 High Balance: NA Recent Balance: $757 as of 07/2001 Recent Payment: $0 Your statement : Account in dispute under Fair Credit Billing Act
This is important... Was there an entry from this collector on your credit report *before* your validation request?
I agree, Sofa. This question is huge. Would they really have been dumb enough to put it on the report AFTER the validation without validating it first? Tom
No, They inserted it just last week! But take a look at what they posted it on my report as is above.
According to the post, it has been reported since September of 2000. If that's the case, it is legal. Tom
Yes, If the entry was already there, then reporting to the CRAs it is "disputed" is a requirement of them. However, if they placed the entry *after* you have disputed and *before* they have validated, they are wrong. Here's yet another FTC opinion letter on the point: (see # II and IV) http://www.ftc.gov/os/statutes/fdcpa/letters/cass.htm
They just inserted it last week! I have like 10 reports from Experian from the past few months and it's not on there even though it's been reported since 2000. They put this on after the fact! I have reports from April, May, June, without that entry posted on there. Is that good enough to sue?
Are you saying there was no entry AT ALL before last week? Or are you saying there *was* and entry, but the statement "Account in dispute under Fair Credit Billing Act" just showed up? Have you read the opinion letter?
