PLEASE HELP...............................

[Anonymous]

First Premier sold my account to Arrow Financial Services and both show on my credit report monthly. My balance with first premier was $489. Now with Arrow Financial the balance is at $932.32. I wrote Arrow Financial a letter to settle but I got no response yet. Yesterday I got a letter from Jefferson Capital Systems, LLC stating that they're in charge of my account now. The letter stated:

Your Original Creditor: FIRST PREMIER

Your Current Creditor: ARROW FINANCIAL SERVICE, LLC

Amount Due:$ 932.32

Dear Customer:

Please allow this letter to introduce Jefferson Capital System, LLC as server of your delinquent account. Your account has been place with us for collection by ARROW FINANCIAL SERVICE....................  and now Jefferson want to settle for $652.62.

Now I am confused, who do I pay, I would like to settle with Arrow and ask for a deletion. I am also worried that Jefferson may pop up on my credit report.

What should I do? Any advise is helpful......................

[My_dog_FICO]

Someone else help me here:

IMO

First - contact First Premier and see if you can settle the debt with them.  If they still own it, see if they will do a PFD. 

Second - if they don't own it, they will give you the info of who does.  Contact the new owner and do a PFD with them, by mail - CMRRR.  If again, they don't own it, they'll direct you to who does.

If the latest CA gets frisky, send them a DV.  It will stop the calls and the legal paperwork if they're threatening a judgement, at least until they reply.  If one and two above are a bust, then maybe the last CA really does own it.  In that case, do a PFD with them.

This is the course of action that I'm doing now with my DH CR.  I avoid CA's at all costs.

[Boswd]

Hmmm something sounds a tad bit odd,  Arrow which is a CA has hired a collection agency< Jefferson?    What I would do is 1. send out a Debt Validation letter to Jefferson  and 2.  I would start with the top,  First Premier, ask about your account and they should tell you who is charge of collecting it.   If they say Arrow, then call Arrow and ask them about your account and Jefferson.

[Boswd]

If Jefferson is indeed in charge of collecting on your account,  and they are not yet on your Credit Report it may be wise to take them up on their settlement offer or see if you can negoitate even lower but that's not a bad amount.   And if you can get this taken care of before Jefferson hits your CR then that's is very good and you would avoid all the extra fees, interest and over the limit fee's are going to continue until it's settled.

[My_dog_FICO]

Don't forget, if Jefferson really is the debt owner, then Arrow has no right to the debt and should not be reporting it.  Send a dispute to all three CRAs if Jefferson is the owner.

Unfortunately you probably won't get FP to remove their entry as they are the OC and have a right to report.

[Anonymous]

If I settle with Jefferson, do I have any option with First Prem or Arrow with deleting them out my credit report?

[Anonymous]

Just talk to Arrow they still own the account, Jefferson had the account and give it back....................

[My_dog_FICO]

Blues - Will Arrow do a PFD?  You can ask them on the phone, and then get them to fax you a settlement letter if they do.  If you can be humbly convincing, they may just be nice enough to do this for you.  You have to play the beat dog with some creditors for PFD's but it is so worth it.

[Anonymous]

just talk to a rep from Arrow and was told they donot delete anything off a credit report, all she could do is update it...........

[Anonymous]

should i sent a gw letter?????????????