DV Success!!!

[Anonymous]

Just wanted to thank everyone on here!!! This place is amazing for not only info...but encouragement!

Received a letter today from Arrow Fin., they were collecting for First Premiere. Anyway they said that they have ceased all further collection efforts with this account. They have also contacted each CRA and requested that such information be deleted from their files!

Does this mean it's over with???

Since Arrow is deleting info about this account...does this mean the OC, First Premiere, will too?
They have reported in TU that this account was a charge off for EQ in May 08 & EX in June 07.......but I have been contacted by Arrow for years...so that is the confusing part!

[llecs]

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molly73 wrote:
Just wanted to thank everyone on here!!! This place is amazing for not only info...but encouragement!

Received a letter today from Arrow Fin., they were collecting for First Premiere. Anyway they said that they have ceased all further collection efforts with this account. They have also contacted each CRA and requested that such information be deleted from their files!

Does this mean it's over with???

Since Arrow is deleting info about this account...does this mean the OC, First Premiere, will too?
They have reported in TU that this account was a charge off for EQ in May 08 & EX in June 07.......but I have been contacted by Arrow for years...so that is the confusing part!

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WOW! Congrats. It may not mean 1st Premier will do it too, but from experience, Arrow was a pain to deal with.

[Anonymous]

thank you!

does this mean i will not have to deal with this account again....or can it be sold to someone else? if it says first premiere charged it off......does that mean first premiere no longer owns it? God i hope this is the end of this ordeal!

what kind of point bump could i expect from this?

[llecs]

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molly73 wrote:
thank you!

does this mean i will not have to deal with this account again....or can it be sold to someone else? if it says first premiere charged it off......does that mean first premiere no longer owns it? God i hope this is the end of this ordeal!

what kind of point bump could i expect from this?

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You still may have to deal with it. 1st Premier can sell it or Arrow too if they owned it. But it makes it that much easier because Arrow couldn't validate it. If 1st Premier is reporting a balance then chances are they own it.

You might get an increase. Depends on a number of factors like overall history, number of other reporting CAs, age of the acct., etc. I got Arrow removed at the first of the year due to being 7 yrs (CRTP) and saw a 24 point bump if I remember with one other CA reporting.

[Anonymous]

thanks for getting back to me!

in TC.....only EQ says there is a balance....TU & EX say it was "collection/chargeoff" with no balance.....i take that as they sold the account.

myfico.com says there is a balance...but it says "bad debt/collection".....could this mean that they still own it? the DOLA for this account is June 2003.

it's great that Arrow is deleting....I just want to make sure it will not pop up in the future again

[llecs]

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molly73 wrote:
thanks for getting back to me!

in TC.....only EQ says there is a balance....TU & EX say it was "collection/chargeoff" with no balance.....i take that as they sold the account.

myfico.com says there is a balance...but it says "bad debt/collection".....could this mean that they still own it? the DOLA for this account is June 2003.

it's great that Arrow is deleting....I just want to make sure it will not pop up in the future again

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Print a copy of your reports directly from each CRA once they delete. Arrow can legally re-add in the future, but the old CR copies could help you.

[Anonymous]

but having this letter from Arrow saying they can't DV helps right?
also....this will drop in a couple of years.....once it drops off after 7 - 7.5 years...they can't come back and add it after that can they? in other words this account should not be a problem after it naturally falls off?

[llecs]

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molly73 wrote:
but having this letter from Arrow saying they can't DV helps right?
also....this will drop in a couple of years.....once it drops off after 7 - 7.5 years...they can't come back and add it after that can they? in other words this account should not be a problem after it naturally falls off?

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That letter could help if Arrow tries to collect again.

No, legally they cannot come back after 7 yrs. You'll never have to worry about Arrow again.

[Anonymous]

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@llecs wrote:
WOW! Congrats. It may not mean 1st Premier will do it too, but from experience, Arrow was a pain to deal with.

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Arrow's DISGUSTING. They've been threatening to report to the CRAs on a debt that went ugly in '91. What's worse is that we paid the OC (First Union -- hubby had an old FU Visa that went bad in college) about EIGHT years ago. Even when provided with PROOF of payment (FU sent us a receipt in the mail with the account number munged -- its the SAME account number Arrow's been harassing us about), they STILL send us a monthly "Better pay or else" letter.

About four years ago (AFTER I had sent them proof of payment to the OC), they threatened legal action. Knowing that VA's SoL on CC debt is 3 years, and it was 2004, roughly TEN years after the SoL, I laughed at them and hung up!

Whattabunchaloooosers!!

[Anonymous]

If Arrow did not validate the debt, they can not sell or transfer the account to anyone else. They can send it back to the OC with a note that they could not validate, so they can not collect.

Keep copies of your reports before the removal and after.

I would contact the OC and pay them directly. This prevents another CA obtaining the account and slapping it on your report.

ETA: You might be able to negotiate a PFD with the OC, especially if it is past SOL.

Message Edited by sidewinder on 07-26-2008 09:08 PM