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Arrow Financial Services - Are they good to deal with?

Arrow Financial Services LLC is a collection agency, headquartered in Niles, Illinois and are a part of the Sallie Mae family of companies. They claim to provide quality recovery solutions and professional customer service. However, many consumers who have shared their experiences about the agency have a different story to tell. If you are quite desperate to know whether or not Arrow Financial Services are good to deal with, glance through the topics given below:

What are the consumer complaints against Arrow Financial?

Consumers unsatisfied with the company's service have a lot of complaints against them. Some of the Arrow Financial Services complaints are:

  • Reporting invalid credit accounts on: Consumers say that the collection agency (CA) does not always validate accounts, and still goes after customers to collect on accounts. One person complained that Arrow Financial Services did not validate the debt they were collecting, and even after admitting that they did not have documents to prove their claim, they still continued to report the account on his credit report! Here are more details on this
  • Collecting accounts discharged during BK: The agency comes after customers to collect accounts discharged during bankruptcy. One customer says the agency came after his cousin for an account that was discharged during bankruptcy in 2005. Learn more
  • Collecting more than actual debt amount: Consumers have complained of being sued by the CA for more than what they owed. A consumer says when his original creditor closed the account, it had a balance of $3,133. But Arrow Financial Services LLC actually sued him for $4,100!

    The customer quotes section 808 Unfair Practices of the FDCPA and claims that collection of any amount including interest, fee, etc. in addition to the principal obligation is a violation of the FDCPA, unless it's authorized by the debt agreement or permitted by law. Thus, he thinks the agency was violating the FDCPA. Check it out.
  • Attempting to collect on paid off accounts: Many consumers have accused Arrow Financial Service of coming after debtors for accounts already paid off. Find out more information on this.
  • Attempting to collect on fraudulent credit card accounts: One customer says the collection agency came after him for a credit card account that someone fraudulently opened in his name. He sent the agency a copy of the police report, along with the other necessary documents, and asked them to not harass him. But Arrow Financial continued to attempt to collect on the debt.

    When the customer filed a complaint with the BBB, the agency sent the customer a letter stating they could not verify the account! Later, the customer sent copies of the letter to the credit bureaus and had the information deleted from his credit report. Learn more about this.

What should you do if Arrow Financial comes after you?

If the collection agency comes after you to recover any delinquent account, you should do the following:


  • Ask for validation of the debt: If Arrow Financial comes after you for an account, you should first send them a validation letter asking them to validate the account.
  • Verify the SOL: You should check if the account is past the Statutes of Limitation (SOL). In case it is, the agency is legally not allowed to sue so as to collect on the debt. If they still do, they will be in violation of your state law, and you may have the case dismissed.
  • Verify CA is authorized to collect: If the account is valid and the SOL has not expired, you should ask the agency to provide you with the documents that actually prove that they have the legal right to collect on the account.
  • Answer a summons: If you send them a validation letter and they serve you a summons to appear in the court, you should answer and appear in accordance with your local court rules, and make sure you provide the court with any information you have on the case.
  • Remove invalidated accounts from credit: If Arrow Financial Services reports a delinquent account on your credit report and then fails to validate it; you should have it removed from your credit report. You need to send the credit bureaus a dispute letter along with the required evidence to get the inaccurate information removed.
Hmmmmmm, well OK. Yet another dilemma. As some of ...
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Hmmmmmm, well OK. Yet another dilemma. As some of you know, skydver helped me write up an answer to a summons which stated "complaint for money" (it literally said that!). K-well, here's what's going on, I asked for a dismissal on the grounds it was an unvalidated debt, and even they [Arrow Financial Services llc] admitted to NOT having any documentation supporting their claim. So, that was about three weeks ago.

Now, yesterday I receive a reply from the court, also a copy was sent to Arrow Financial Corp's Attorney. :D To sum it up, this is what the letter said [from the Judge/Court]

Case #
Both names of parties (me & them)
The above captioned matter is scheduled for pre-trial on (such n such a date) at (such n such a time). Claims, counter claims, and cross claims of any party who fails to appear personally or by counsel, will be dismissed with prejudice.

A default judgment will be granted against any defending party who fails to appear either personally or by counsel. In parentheses at the bottom of this letter says: (No telephone pre-trial permitted).

Now what? :shock:




You are going to court lady. Be there on time to face Arrow Financial Services scam.

Sub: #1 posted on Thu, 06/26/2008 - 08:39

cajunbulldog cajunbulldog
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(Posts: 4859 | Credits: 424.99)

sounds like if you show up with all your
documentation it will be dismissed with prejudice.
if arrow financial services llc truly can't produce there documentation
the suit will be dismissed with prejudice.
i think that is language in any pre court communicae.
again i think you will win this when you go to court.

Sub: #2 posted on Thu, 06/26/2008 - 08:40

paulmergel paulmergel
Moderators Cum Industry Expert
(Posts: 15506 | Credits: 1356.56)

I would like to counter sue Arrow Financial Services LLC, just not sure what I could get them on, and, would this be a good time to do so? lol Yeah, I am going to court, BUT, I just need to make sure I have all my ducks in a row. ANy suggestions, advice??

Sub: #3 posted on Thu, 06/26/2008 - 08:43

Shazzers Shazzers
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(Posts: 17342 | Credits: 1592.83)

Definitely! Show up to court in your Sunday finest, with a big smile on your face and all the documentation/backup laid out in front of you. Cue cards or a slide presentation might be helpful! Or maybe a PowerPoint presentation? (just kidding about those last two suggestions) With any luck the butt-munches might not even show and you'll win by default.

WITH PREJUDICE! I might add.

Do you have Arrow Financial complaints on any solid fdcpa or FCRA violations? I honestly can't remember all the specifics behind your situation, but I think there were a few. If you have a solid case, then YES, I would definitely sue them. But I wouldn't do it just to make it seem like I wanted to get even with them for their foolishness; might backfire on you.

If I'm being sued by arrow financial services, I don't know if I would counter sue right then either. You would still have to pay filing fee for a counter suit whether you did it then or later? (I'm asking, as I don't know) So I would definitely wait a month or two down the road, if that is the case, just for the sake of SURPRISE! (you could hire a company to serve them the papers by a woman hiding in a big cake they roll into the CA office; she could jump out yelling "SURPRISE!" handing the papers to the CEO of the company. Bet they couldn't deny they got them, could they?)

I also think you have up to a year to sue on FDCPA violations?

That's my half-a-penny worth of opinion, let's see what anyone else has to say.

Sub: #4 posted on Thu, 06/26/2008 - 10:37

FloridaRon FloridaRon

(Posts: 1190 | Credits: 74.85)

Yeah, you're probably right, I'll wait awhile. I have the papers where they admit they have no documentation, because I was the one who received the monthly statements, therefore I am the one with the evidence. Pffffffft. Yeah OK, here's your evidence for ya Arrow. :lol: Not in this lifetime, produce it yourself. :wink:

Anyway, yeah, they continued to collect and report on my credit report after I sent the DV, so, violations are there and pretty clear cut.

Sub: #5 posted on Thu, 06/26/2008 - 10:54

Shazzers Shazzers
Moderators Cum Industry Expert
(Posts: 17342 | Credits: 1592.83)

Oh, then yes, I would definitely sue them! I think you're due a little "pain and suffering" compensation for what they put you through.

Sub: #6 posted on Thu, 06/26/2008 - 10:56

FloridaRon FloridaRon

(Posts: 1190 | Credits: 74.85)

WHOAAA! Update! I received a letter from the attorney for Arrow Financial Services LLC today, it seems they are going to appear in court, they sent me a copy of "Notice Of Appearance". They also sent me a letter asking me to call them to discuss a possible resolution to this matter. Hmmmmmmm, what type of defense could they possibly have, they admitted to not having any documentation with proof of the debt. Unless they have dug up those documents and are going to present it in court. What shall I do to prepare for this guys??? Shall I call them to see what type of resolution they are speaking of? They still have not proved this is my debt. HELP!

Sub: #7 posted on Mon, 06/30/2008 - 11:18

Shazzers Shazzers
Moderators Cum Industry Expert
(Posts: 17342 | Credits: 1592.83)

i would contact just to see what's up?i would see if the court
has anything as to how they filed as well.or if they put any new
motions on the docket.

Sub: #8 posted on Mon, 06/30/2008 - 11:30

paulmergel paulmergel
Moderators Cum Industry Expert
(Posts: 15506 | Credits: 1356.56)

Arrow Financial Corp. sent me a copy, BUT, all it says is "Notice Of Appearance" to the court. :? If they filed another motion, the court will have to send me a copy.

Sub: #9 posted on Mon, 06/30/2008 - 11:32

Shazzers Shazzers
Moderators Cum Industry Expert
(Posts: 17342 | Credits: 1592.83)

then i would contact the lawyer for Arrow,record the call if possible.probably wanna make another attempt to get you to
give up the documents that can make either sides case.
wouldn't put it past them to try this.

Sub: #10 posted on Mon, 06/30/2008 - 11:38

paulmergel paulmergel
Moderators Cum Industry Expert
(Posts: 15506 | Credits: 1356.56)

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