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I have been battling this company since the summer. I had two First Premier Bank cards several years ago. I paid one off and continued payments on the other. During my "debt days" it was charged off for non payment, but I never heard about it. It was just listed as a charge-off on my credit report. I repeatedly contacted FPB to provide information and they NEVER ONCE acknowledged my correspondance.

Long story short, I received a notice from Arrow Financial over the summer for the account. I sent them a valiadation request in July and never heard from them until they started to call again a couple of months ago. I again asked for validation.

I just received "validation" which consists of a bunch of financial forms with the name blacked out. In their letter, they do not make any reference to the amount owed now. When charged off, it was $722. The first letter from Arrow asked for $950.

This can't be proper validation, can it? If not, what is my next step? They are now on my credit report as a collection item and so is the original account with FPB. Can that be listed twice?

I can handle this company, no problem, but before I proceed, I would like some feedback.

I'll be interested in hearing some feedback on this as well, Arrow happens to be a company I am dealing with right now.

Sub: #1 posted on Tue, 12/11/2007 - 21:40

Shazzers Shazzers
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(Posts: 17342 | Credits: 1592.88)

That doesn't sound like validation to me..what did they validate?? The amount? Nope. They even blacked out the name..why would they do that? Sounds fishy to me. I would send another letter, again asking for validation, -proper- validation. Ask them to provide a breakdown of all charges and to explain why the charged off amount is $722 and yet they are claiming $950, also ask them to provide proof that the extra is legal. (like a signed contract stating how much interest can be charged on a defaulted account).

Sub: #2 posted on Tue, 12/11/2007 - 23:47

goldenbast goldenbast
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I sent the letter off yesterday, so I hope to hear something soon. Sheeesh...

Sub: #3 posted on Mon, 12/17/2007 - 02:54

waterbug811 waterbug811

(Posts: 136 | Credits: 43.01)

Based on what the original poster had to say, that ain't proper validation! Don't send'em one damn dime until they validate the debt properly.

Some of what they have to show you are:

- Documents with your signature, establishing that the debt is yours and that you agreed to pay it.

- A complete account history, starting with the OC, and including all payments made and a breakdown of any interest, penalties, and fees that have been added.

- Chain of title or assignment of the debt, to prove that they are legally authorized to collect it from you.

There are more requirements. Look around the site and you'll find'em. Sorry, but I gotta run now. Food's on!

Sub: #4 posted on Mon, 12/17/2007 - 03:54

unclewulf unclewulf
(Posts: 3173 | Credits: 315.03)

So I received a reply from Arrow through the AG of Illinois. It said nothing of significance really. Now I checked my credit reports and the Arrow Collection item is gone.

What should I do? Call them or just see what happens?

Sub: #5 posted on Mon, 07/07/2008 - 22:03

waterbug811 waterbug811

(Posts: 136 | Credits: 43.01)

IMO - I'd let sleeping dogs lie. If they can't validate, then they can't collect...that means they can't sue you either until they validate.

Sub: #6 posted on Mon, 07/07/2008 - 22:11

desperatelyseekingsanity desperatelyseekingsanity

(Posts: 1129 | Credits: 58.41)

I also sent Arrow a DV.. they seemed to fall off the face of the earth since. I recieved a letter stating they recieved it than nothing else. I'm just going to let them go for now, since I doubt they ever plan on validating it.

Sub: #7 posted on Tue, 07/08/2008 - 22:21

bea2ls bea2ls
(Posts: 3840 | Credits: 370.56)

If your DV was untimely (outside the inital 30 days) they do not have to respond. Is the debt past SOL? Have you also disputed the tradeline with the CRA's?

Sub: #8 posted on Tue, 07/08/2008 - 23:03

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