Yall aint gonna believe this. I am having a credit nightmare which started at New Years. Let me give you guys a little background info. Some of you who follow creditnet and qualitycreditrepair may know some of this info already because I was a frequent poster there when I was dealing with the dreaded Arrow Financial. Arrow Financial is the scumbag of all collection agencies. They are worse than NCO if can believe that. They put this health club bill on my credit report and when I was cleaning my credit I paid the debt in exchange for deletion. I believed the guy at Arrow(stupid, stupid, stupid, I know and didnot get it in writing). He then dissed me and wouldnot remove it. I had the debt removed from Equifax and Transunion already though Experian wouldnot let it go because I told them the whole story about me actually getting a job at the health club Livingwell Lady and them cancelling my membership etc. They went out of business and couldnot verify any of this. Experian held that over my head and kept the debt there. To make a long story short. I paid $460 to Arrow, they wouldnot remove it,cursed me out on the phone. I got the item removed anyway later by disputing it and they didnot respond. Lesson Learned. That is enough about that. But today, Arrow contacts me via a letter about a debt I owe to Capital One Services. It says " they would accept a settlement of $2,635 ,%50 of the debt. It says I save $2,635. It says I must pay it before 2/22/01 for the offer to still stand. OR I can set up a payment plan until the entire $5270 is paid. Ha! WHERE DID THIS CRAP COME FROM? Capital One? Let me tell you guys, I have owned 3 credit cards in my entire life, before I started rebuilding my credit with FNBM and Capital one in 1999. I stayed new credit free from 1992-1999. I charged off the debts while I was in college. My three bad cards were Discover, which I paid finally paid off in 1996, due to fall off my report late this year. I had HEcht's, a retail card, which I also paid off in full in 1996. Finally, I had a Signet bank mastercard which I never paid a dime on. I was flat broke and busted. I took my little loan check and paid Hecht's and Discover while I was in school. I didnot have the money to pay the signet bank. This stayed on my credit report the 7 years and fell off in 1998. I got that card and charged it off in 1991-2. This has to be what Arrow is talking about. ~Hasn't my SOL passed guys? (Ilived in NC when I opened these accounts) ~Do you think they will try to put this back on my reports as a new debt? (Which is illegal). ~I had 3 accounts with Capital one since then. Is this ironic? I always planned to pay this debt back once I started working. But after reading about credit starting last year and about selling debts, I rethought it. Capital one didnot even have a record of my old debt. My 7 years time has been served anyway. But my biggest BEEF is I wouldnot Pay ARROW anything anyway. The slimbuckets. What are you guys thoughts on this? The End roni
You know what I'll say... Here come the validation letters. Don't ever admit even knowing anything about this one... make them prove it and when they can't... bend them over on this one
RE: hay Was the debt sold to arrow? if not, i'd tell them to kiss my arse, send a cease and desist. Man, i was actually thinking about paying a few old debts, roni, but it sounds like this ARROW place, after getting money from you, may have pulled a fast one. Sounds like they went looking for debts from you, knowing that you might pay them. thats dirty. sorry to hear that..
RE: hay Was the debt sold to arrow? if not, i'd tell them to kiss my arse, send a cease and desist. Man, i was actually thinking about paying a few old debts, roni, but it sounds like this ARROW place, after getting money from you, may have pulled a fast one. Sounds like they went looking for debts from you, knowing that you might pay them. thats dirty. sorry to hear that..
Correction... I aint paying them NADA. Make no mistakes, the Sol is past. BTW, You guys didnot answer my list of questions. They cant verify anything. I behaved very stupid with the healthclub thing. I was just scared about getting a auto loan and wanted not balances owed on anything. The debt is gone now anyway. If they reage this thing and try to put this on my credit report, CAn I get Rich? roni Anybody got a cease and Desist letter. I never needed one until now.
cease and desisit letter I believe you can find a sample letter here http://creditinfocenter.com/forms/
ok... here's what I'm sure of. They will not be able to sue you so they're all bark, no bite. If you do the usual C&D they'll have to stop contacting you. yes that's true. If Cap1 has absolutely no information, I'd send a validaion letter not a C&D. The validation asks for proof, and if they don't have it, they have to back off anyway. Let me guess, they've put it on your reports to try and blackmail you into paying this debt anyway. Look, I'm not a lawyer, but I'd send the set of 2 validation letters and if you get no response I'd go straight to the FTC and to your state's atty general. If it gets to this point, I'd try to find an atty who would take it on contingency. I've heard you can sue them for the "open account" which would be the balance in full. (I am not certain about that, though. I've never done it). I am certain of this. My atty told me that if you ask for validation and they don't give it to you they're violating the FCPA. By continuing to report it to the bureaus they're violating the FCRA. There are 1,000 fines each (pretty easy to prove) and you can try for damages (more difficult). If you're in Ga. I've got a killer lawyer who is the SR counsel for a lawfirm (collection agency) but he also does individual work on the side Hope that helps. they can try to reage it but if you do catch them (and it's not a violation of the new laws) then you might not get rich, but you might get something (and you definitely might get them investigated by the FTC and Atty general)
RE: ok... here's what I'm sure DISPUTE DISPUTE DISPUTE this if on your credit report. If the original creditor cannot provide verification but the collection agency verifies the accuracy to the CRA, your next step is a small claims action. Cite the FDCPA against the Collection agency as they are required to provide you with validity of the debt if you request within 30 days of the notice (if you request this request a copy of the original cardholder agreement). Cite the FCRA against the CRA. It is highly unlikely the CRA will appear and normally they settle this out of court
Hold on guys,......Not on repo This is not on my credit reports. I pulled my experian last night by chance. The original debt fell off my report over 2 years ago. roni
RE: Hold on guys,......Not on Then I would just send a letter to them, cert mail, return receipt, demanding verification...or cease and desist...or simply ignore them. Watch your credit reports, they may try to have it reported again.
RE: Hold on guys,......Not on If they do this, (I wouldnot put anything past them), what do I do then? roni
RE: Hold on guys,......Not on Start the dispute process with the CRA. Be specific and require the CRA provide you with the name, address, and telephone number of the verifying party and ask for proof of a signed agreement. IF the information comes back verified then go the small claims route. CRA can not afford to appear in court for small claims actions in most cases and will often settle out of court and include removal in the settlement.
Put Up Or Shut Up Roni: If there is one thing Iâ??ve confident about in this situation, is that youâ??ll follow through! But here is the dealâ?¦ Just because a statute is stale, doesnâ??t mean a collector canâ??t attempt recoveryâ?¦ Personally, I think theyâ??re sending up a trail-balloon to see if youâ??ll reach for it. I KNOW you know better. Since the statute is stale Iâ??d suggest, not sending a C&D just yet. But rather deliver them a put-up-or-shut-up letter! It will be more therapeutic for ya, and far more fun. Essentially, the letter entails indicating that youâ??re not about to pay and that if they wish to litigate for recoveryâ?¦ (Hereâ??s where it gets good) Offer your address for service of process! Donâ??t get technical, kurt or overly aggressive. In a business-like way, just tell them to take their best shot. Hay who knows..? Maybe these guys will take the bate themselves; send a demand letter or violate FCRA and viola! Youâ??re in the money for your time and troubleâ?¦ Hay, it could happen! [;-) Keep The Faith, Anthony Villaseñor, CreditDefenses.com
RE: Put Up Or Shut Up Now, I like that. Thanks a whole lot. I will use your advise. Thank you, thank you, thank you. roni
RE: Put Up Or Shut Up I agree here. they are just trying to bait you, unfortunately for them you know your rights. Gosh will this crap ever end. Hang in there girl and keep on fighting!! Mom
One More Thingâ?¦ If you send a put-up letter remember that the nicer you come off, the more intimidated the collection agent will likely be. Itâ??s a reverse psych game that subtly puts them on notice, rather than rubbing their noses in the fact (that their paper is competing with Charman)!. And since there is nothing they can â??legallyâ? do. Itâ??s like giving them the FINGER, with a smile on your face. Keep The Faith, Anthony Villaseñor, CreditDefenses.com
RE: One More Thingâ?¦ May I suggest that you quote Dirty Harry in your letter: "Hey, if you wanna shoot, shoot. Don't Talk!" Saar
RE: Roni-Drama...."I NEED You mentioned NCO as being one of the worst Collection Agencies.. why is this? Has anyone else had experience with NCO??
RE: Roni-Drama...."I NEED If anybody puts this back on your credit report, I would like to hear from you. Is this Aarow company a national company? What state are you living in now? mba9999@aol.com February 21, 2001