I received my credit report today from TU and on it was the collection listing from Arrow Financial. I immediately called and found out the following from the supervisor I spoke with. It can take anywhere from 2-3 months for a CR to be updated. She would not remove the listing because "it shows the item was paid" and "it's company policy to not delete listings." I told her the problem I had was the letter I received with my settlement offer said the listing would be updated upon clearence of my check (which it was not). I explained that it took a letter and a phone call to get them to update the listing. She apologized but said "that usually doesn't happen." I told her that it did and it has had an adverse affect on my credit report and I feel due to your lack of attention the listing should be deleted. She apologized again and said she could not do that. She went on to ask, "the listing shows the bill was paid, how else could you prove it's paid if it were to be questioned?" I told her I was holding the cancelled check in my hand and she was silent for a moment or two then just reiterated her stance that "we do not remove listings from consumer credit reports and that's all I can say." That was it. Do I have any course of action here or do I just ride it out? I hate to pick the latter as it really sticks out on a CR. Any help is appreciated.
Steve- I just sent Arrow Financial a settlement for deletion letter a few days ago for a credit card account that was charged off which they took over. I haven't heard anything back from them yet, though. I requested that they accept my settlement offer, and delete the account. The account is about 3 years old, so I think I may have a chance; however, now I'm not so sure since you said they're so strict regarding deletions. I'll definitly keep you posted. I wish I had better advice for you, but it looks like we're probably in the same situation... -Eric
I regret not using my money as leverage. I have learned so much after this from this and other forums. Hoefully you will have better luck. I don't think there is any recourse for me. I have them on a violation of misrepresentaion/false statements, but that's it. And even that may be stretching it
LOL. Arrow strikes again. They are total pains in the you know what. I have been haggling with them over some debt they REFUSE to validate. I sent an e-mail to Lance Martin, their VP and general counsel. If you want to pursue this any further, e-mail or fax him. lmartin@arrow-financial.com. Fax is 847-982-1562 or 1563. It seems as if they got you on that settlement letter. Now, was this a settlement letter that you sent them or that they sent you? I have been sent that same settlement letter and all it says is that the CRA's will receive a letter stating that the account was settled. Personally, Arrow can kiss my you know what. Their seven years is up next year and I really don't care any more. Do a search on the board for Arrow Financial. There is some really good stuff that might help you out more. Right now, I don't see what could help you in your situation other that the nutcase letter. Do a search for that letter or look in the newbie FAQ section.
I don't know if this will help... I paid off an account w/Arrow Financial 2 1/2 years ago, and I believe we settled. They took off extra interest and I just paid the original charged-off amount. Anyhow, in 05/02 I disputed w/EQ and apparently AF didn't respond because it has now been deleted. I was very happy. I finally felt like I accomplished something. I thought I was doing the 'right' thing by paying my debt to begin with. If only I were that lucky w/Belk & Mervyns when I disputed. Oh well, better luck next go round. Good luck with you situation. HeatherB
I've told this story about a dozen times. The one part I never mentioned is that the bozo collector was from (drum roll please!) Arrow Financial.
