"Need Credit Help"

suga5 · 02-21-2008, 02:56 PM

Hello Everyone,

I have been dealing with a old collection and need some help, the name of the company is "ARROW FINANCIAL" they have been calling and writing me asking me to pay this dept off which is around $1300.00. I ask them for a "PFD" they said they could not, but they would put "PAID IN FULL and "PAID AGREED" and they would give me that in writing. my question here is will this make my scores go down or up any, this collection is 5 years old and i want it paid but if its not gonna help my scores any i will just leave it.

drivel · 02-21-2008, 03:18 PM

Quote:

Originally Posted by suga5

Hello Everyone,

I have been dealing with a old collection and need some help, the name of the company is "ARROW FINANCIAL" they have been calling and writing me asking me to pay this dept off which is around $1300.00. I ask them for a "PFD" they said they could not, but they would put "PAID IN FULL and "PAID AGREED" and they would give me that in writing. my question here is will this make my scores go down or up any, this collection is 5 years old and i want it paid but if its not gonna help my scores any i will just leave it.

It probably wont help your scores. So if arrow is not willing to fix your credit report to show that you are a responsible borrower, you probably are best off ignoring this obligation for a couple more years.

hannah · 02-21-2008, 03:25 PM

Drivel is correct. A little terse but correct none-the-less.

suga5 · 02-21-2008, 04:03 PM

Thanks everyone

hannah · 02-21-2008, 04:39 PM

Suga, Arrow is a JDB as well as a CA. Do you know if they own the debt or are collecting as a third party?

What state are you in so I can check SOL?

Is the debt 5 years old since going into default or is it older and Arrow has had it for 5 years?

suga5 · 02-21-2008, 04:53 PM

they said that they bought the dept and own it now. i am in arkansas, and i think the statue of limitation here is 3 years here so the dept is not collectable now and i am clear of any judgment being slap on me i hope, but are they still able to try to collect a dept that is out of statue? and the dept is 5 years old in default arrow came in the picture maybe a year ago.

hannah · 02-21-2008, 05:10 PM

Quote:

Originally Posted by suga5

they said that they bought the dept and own it now. i am in arkansas, and i think the statue of limitation here is 3 years here so the dept is not collectable now and i am clear of any judgment being slap on me i hope, but are they still able to try to collect a dept that is out of statue? and the dept is 5 years old in default arrow came in the picture maybe a year ago.

OK, that's good. You can write them a letter telling them not to contact you since it is OOS. It will drop off your report in 2 more years. I 'd just wait it out.

drivel · 02-21-2008, 05:45 PM

Quote:

Originally Posted by hannah

Drivel is correct. A little terse but correct none-the-less.