ARROW FIN AND 1st PREMIER

[Anonymous]

I really goofed. I had arrow reporting and 1st premier on my cr. I gw 1st premier about 8 months ago and they deleted it off my cr. Then I received a letter from another ca, that said they bought the debt off of arrow. So (heres were I goofed) I disputed arrow at the cra, since I did not think they owned the debt any more. They verified and it updated on my cr now looks new. My SOL for Ar is 3 yrs on open accts. Question # 1  This is considered open, since org OC is Premier right?

               # 2 Should I dv Arrow? The only thing I have received from them is letter to pay 50%. I pfd them and they never answered, this has been about 8-12 months ago

Is there anything I can do?  Thanks to all!!!

[Anonymous]

did you gw first premier about a charge off that was paid off by arrow?

so it said paid charge off for first premier?

and they deleted it?

i may try this.

[PayYouNever]

My DW has a similar problem with 1st Premier. She has an account that she never used, and the fees just racked up until the card was cancelled and charged-off. On DW's Experian it's listed as a Co by First Premier and a CA by Arrow.

What I'm gathering from the OP is that, both can't listed on one's CBR because it's the same debt and one is inaccurate reporting -- if the OC sold it, then they should have no right to it report it to the CRAs and have Arrow also report it.

Since we live in California, I'm going to a) send a GWletter to First Premier asking for removal, claiming that they sold the debt to Arrow and there they are in violation of the FCRA if they continue to report and then b) demand that Arrow remove because in Cali a CA has to send a letter stating that they are going to insert negative information on to one's CBR; this never happened.

Hopefully this can remove this CO/CA

[Anonymous]

so first premier has no right to have the acct on a report if arrow is the one that owns it now?  am i understanding correctly?

i thought charge offs stayed on regardless? I'm off to do some disputing.........

[fused]

This is the law:

Both the OC and one CA (and only one CA) can report the same bad debt. In this situation, the OC reporting the CO must report a $0 balance while the CA can report a balance.

[furkidz3]

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fused wrote:

This is the law:

Both the OC and one CA (and only one CA) can report the same bad debt. In this situation, the OC reporting the CO must report a $0 balance while the CA can report a balance.

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How do you fix your CR then if they both are showing the same balance? Do you dispute through the CRAs? Or is there some other way to have the OC report a $0 balance? I have 2 accounts like this showing the OC and the CA with the same balance due/past due.

[fused]

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furkidz3 wrote:

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fused wrote:

This is the law:

Both the OC and one CA (and only one CA) can report the same bad debt. In this situation, the OC reporting the CO must report a $0 balance while the CA can report a balance.

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How do you fix your CR then if they both are showing the same balance? Do you dispute through the CRAs? Or is there some other way to have the OC report a $0 balance? I have 2 accounts like this showing the OC and the CA with the same balance due/past due.

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Dispute the balance being reported by OC on the CO as inaccurate...should be a $0 balance.

[Anonymous]

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RUSTY101 wrote:

I really goofed. I had arrow reporting and 1st premier on my cr. I gw 1st premier about 8 months ago and they deleted it off my cr. Then I received a letter from another ca, that said they bought the debt off of arrow. So (heres were I goofed) I disputed arrow at the cra, since I did not think they owned the debt any more. They verified and it updated on my cr now looks new. My SOL for Ar is 3 yrs on open accts. Question # 1  This is considered open, since org OC is Premier right?

               # 2 Should I dv Arrow? The only thing I have received from them is letter to pay 50%. I pfd them and they never answered, this has been about 8-12 months ago

Is there anything I can do?  Thanks to all!!!

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First Premier is and stays the OC......if they assigned it to arrow and then withdrew the assignment OR they sold to arrow and arrow sold it to another CA......you said that the OC deleted...You should only have the new CA reporting.

When an assignment is recalled the CA should delete.. the same goes if a debt is sold to another CA!

They never do though!!  you usually have to force them to. file a complaint with www.ftc.gov

DV both of them  CMRRR

Also are you sure of the DOFD.......Im surprised that the OC deleted before the 7 year drop.