Hey all. Here's a new scenario that has just come up. I got a letter from Arrow Financial Services, trying to settle for an old account they claim to be representing (Capitol One). They want to settle for half of the balance. I ain't paying one dime. Here is how this account came into being. Back around 1993, I financed a set of tires and wheels for my vehicle. I made payments, life happened, and the truck got repo'd. Repo has since long gone off CBR's. Back in 2000, when I moved to NC, I got this nifty credit card in the mail from Crapital One, who said that they had purchased the charge-off account from the OC, Hurley State Bank. They said I could "repair my credit, yadda yadda" if I make low monthly payments. I have since learned that this was done probably WAY outside the SOL for the original debt. Being naieve, I took them up on this offer. Well, I lost my job back in 2000, and hadn't heard from them since. It's been on my CBR's, but I decided to let the sleeping dog lie (pun intended). Enter the letter I get this week. Arrow Financial Services (yes, I know they are scummy CA's; I read the posts on them) sent me a dunning letter stating that their "client is willing to settle your past due account for 50% of the full balance". My CBR shows the account with Crap 1 went 30 days late on 8/2000. In NC, where I got the offer from Crap 1, and sent them a payment (I think) which obligated me to this situation where they bought the out of SOL debt in the first place, does the Open Account SOL apply? If that's the case, then it's only 3 yrs on open accounts. In GA, where I currently reside, the SOL is 4 years. Which states statutes apply? I figure that in a couple of weeks, GA would be outside the SOL anyways, but I'd like to hammer Arrow with a suit. Ideas and suggestions?
Either SOL can apply, since they can file in either jurisdiction, under the FDCPA. You will want to check if GA has a borrowing statute, if they have a borrowing statute. (Basically then GA would borrow the SOL of the state which the debt was defaulted in, if it is shorter than GA's SOL.) Chances are that if they would file, they would file in GA, and not SC, because then they would have to file again in GA to enforce the judgement. Since it is close to the SOL, I would probably send the validation letter as close to the end of the 30 day window as possible, that way it is unquestionable whether or not you were subject to the cease of collection activity under 809(b). It'll probably take a few months for any validation to be provided, unless they try to provide a print-out of what they claim that the OC already provided to them (which doesn't conform to the Wollman Opinion) Or you could sit on your hands until the month you are sure that the SOL has tolled (remember since the CRA don't do dates, if they say the DOLA is AUGUST, it could be AUGUST 1 or AUGUST 30, the first missed payment would then be SEPTEMBER, so the SOL would be definate in OCTOBER; and send a time-barred C&D.
If you're looking for violations, then you'ld probably want to go the validation route. Just send the validation letter on the 30th day after you received the validation notice, that way you're covered, and it just slightly places the account even closer to the SOL. If the 30 days late is August, then you would be in the SOL in probably September.
So I'm assuming that by filing, you mean filing suit against me? I don't think they will do that for a measly grand. They haven't, but if they did, I'd have a good chance at getting it tossed out. I guess it would give me another month of cease collection activity as well, if I send it close to the end of the 30 days.. I assume they won't send two letters within the first 30 days. In retrospect, the date on the first letter was the 28th, and I had until 7/7 to send them $. Not sure about the relevance... perhaps when I get enough violations on them, I give them 2 weeks to pay? LOL Hopefully they don't do anything...that way I can dispute it with CRA's... Can you briefly explain what a time-barred C&D is? I'm thinking it's a C&D with an explanation that the account has tolled the SOL...am I correct? I think I'm gonna sit this one out till September. Should I send the dispute to the CRA's once I send the first letter back to Arrow?Thanks for your help.
That's exactly what it is... A good example is on WhyChat's site. http://whychat.5u.com/ But essentially a time-barred C&D says. (And this is a snotty consumer way of phrasing it, and not a real example, but its the simplest way of phrasing it.) "Listen here, the state of __ has a Statutes of Limitations for this type of account, and you're beyond it, so don't contact me in any way, shape, or form ever again on this matter." Basically that tells them that they can not sue you for the account so (2) + (3) on the contact after a C&D are ruled out, so the only type of contact they have left that they could do would be (1) to tell you that they aren't going to continue collection on this account.
Demanding a payment within the 30 day validation window (35 with mailing) is a BIG NO-NO... It's overshadowing the validation notice, since they are telling you that you only have 14 days to pay, or 30 days to ask them for proof of the account. See the discrepency?
Re: Re: Which state SOL applies? Guess what I just received today? Another dunning letter from Arrow. They have sent two letters within the 30 day period. They overshadowed BIGTIME! I have not sent the first letter; I was waiting till tomorrow. I'm within the 30 day window. The first letter from them was dated June 28th. This letter is dated July 17th. Do you hear what I hear? Cha Ching!
