Arrow Loses $100K!

[Anonymous]

http://www.budhibbs.com/debtcollectorpages/arrow_fine.html

Federal Jury in Los Angeles Orders Debt Collector Arrow Financial Services to Pay Consumer $100,000.00 for Unfair Debt Collection and False Credit Reporting

On May 4, 2007, a unanimous federal jury in Los Angeles, California ordered debt collector Arrow Financial Services to pay Laura Nelson $100,000.00 for a multi-year pattern of unfair debt collection and false credit reporting practices. Laura Nelson v. Arrow Financial Services, LLC, United States District Court Case No. CV06-1568 RGK (PLAx).

Los Angeles, CA (PRWEB) May 9, 2007 -- Following a three-day civil jury trial, a Los Angeles jury unanimously ordered debt collector Arrow Financial Services to pay Laura Nelson a total sum of $100,000.00 for false credit reporting and unfair debt collection practices. The jury awarded Ms. Nelson $85,000.00 for her emotional distress and mental anguish, and also added a $15,000.00 penalty against Arrow for its repeated violations of the Fair Debt Collection Practices Act. Laura Nelson v. Arrow Financial Services, LLC, United States District Court Case No. CV06-1568 RGK (PLAx).

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[Anonymous]

Nice!!! Arrow is one of the remaining few thorns in my foot and I just sent a cert/return receipt for validation last week for an account they are inaccurately reporting and won't budge on. That rocks, I hope this humbles them a bit. These guys are the worst re-age offenders on the planet. The account they have on my file is probably 9 years old.

In addition, the state if Illinois apparently agrees:

http://www.illinoisattorneygeneral.gov/pressroom/2007_01/20070125b.html

Message Edited by devhip on 05-09-2007 07:01 PM

[Anonymous]

If anyone else is battling Arrow's illegal collection practices, I urge you to file a complaint with the Illinois Attorney General office. The form is on the site. They already have over 600 complaints against Arrow which triggered the class-action. Not sure how much good it will do, but I am including the complaint form with my next demand for deletion. They are still trying to collect for a card I closed in 1999! Arrow has been dinged with some heavy legal (thus, financial) losses in the last few years so I am hoping that letting them know I am jumping on the class-action bandwagon will give them a change of heart.

[Anonymous]

Good for her!!!  That's a nice chunk of change but probably not nearly enough for what she had to go through with them.

[Anonymous]

In total agreement.

If Arrow is halfway smart, they'll settle or appeal or both. In a settlement, that $100K might drop to half, a third, or less. Let's go with one third. $33K isn't a bad chunk of change, but the lawyer is probably gonna take another one third or perhaps even 40%. Consumer might walk away with between $20K and $22K.

If the consumer was trying to get a home, buy a car, etc. then that $22K might just pale in comparison to what she might have lost trying to buy a home.

And, it's not the first time she sued Arrow. They've been fouling her over since 2001, she sued and won, they put it back on your CRs, and now she's had to sue 'em again. 6 years of false reporting.

Even when the consumer wins, the credit industry seems not to change it's ways.