Arrow Financial Services is a company that buys old debts and then tries to collect on them. If the debtor refuses or is unable to pay, Arrow Financial will file a lawsuit and try to obtain a court judgment. This document enables the company to take even more aggressive steps such as pulling money directly from the debtor’s bank account. If you’ve been contacted by a debt collector, you can’t afford to ignore them. But debt settlement offers you the potential to pay off your account for much less than you owe.
That’s where The Fullman Firm comes in. We’ve saved countless clients significant sums of money by negotiating effective debt settlements that permanently resolve their old accounts. We’re ready to work on your debt today.
Who Is Arrow Financial Services?
This debt collection agency purchases old consumer accounts that are in default and then turns around to collect everything they can from the debtor. If the company is not successful with its phone calls and letters, it will retain local counsel to file a lawsuit.
Arrow Financial has been accused of violating various state and federal protections against abusive collection practices. Some examples include:
- Harassing debtors, often by calling from multiple phone numbers
- Making repeated phone calls to debtors
- Failing to validate that the individual actually owes the debt
- Improperly reporting paid-off debts to credit agencies
- Trying to collect on accounts that are too old or have already been paid off
- Filing baseless lawsuits
- Threatening actions that cannot legally be taken
What Rights Do I Have As A Debtor?
As mentioned above, state and federal statutes limit the activities of debt collectors like Arrow Financial. The primary law that protects debtors is the Fair Debt Collection Practices Act (FDCPA). The FDCPA makes it illegal for a collection agency to:
- Call debtors at unreasonable hours of the day or night (too early or too late)
- Call debtors at work after being instructed not to
- Use profane, obscene, or abusive language over the phone
- Discuss a debtor’s account with that person’s co-workers
- Fail or refuse to identify themselves as debt collectors
- Threaten arrest or other baseless actions against a debtor
If you’re a debtor, you have the right to verify certain information about the debt that is being collected, such as:
- The identity (e.g. name and address) of the original creditor
- The current balance on the account
- A statement informing you that you have the right to dispute the debt within 30 days
Arrow Financial Has Sued Me – Now What?
Remember, Arrow Financial will eventually sue you if you don’t pay what the company says you owe. In a debt collection lawsuit, you can expect to receive a summons and complaint. The summons tells you to respond to the lawsuit (which you generally must do within 30 days of being served). Meanwhile, the complaint includes details about you and the debt you supposedly owe.
Some debtors try to dodge court papers, assuming they can avoid legal problems if they avoid the process server. But Arrow Financial and its lawyers are skilled at what they do and have numerous options for effectuating service against you. Dodging survive will delay legal action temporarily, but interest and lawyer fees will accrue in the meantime.
How Should I Respond to the Lawsuit?
Once you are served with court papers, take a close look at the information they contain. If there are any errors, such as an incorrect debt amount, notify an attorney right away. Another common problem is misidentifying the debtor. Some individuals with common names, like John Smith, are mistakenly identified as owning the debt. Arrow Financial will take your money whether you actually owe it or not, so retain a lawyer immediately.
If you don’t respond in writing to the court within 30 days and also appear in court on the scheduled date, Arrow Financial will obtain a default judgment. It does help to have an attorney respond to the lawsuit, however, so you can assert whatever legal rights you have. But if you actually owe the money, the company will probably get a judgment against you anyway.
You may feel trapped and believe there’s no way out from under Arrow Financial’s boot. But there is a powerful tool available that you need to consider: debt settlement.
What You Need to Know About Debt Settlement
Whether Arrow Financial is calling or sending you letters or the company has sued and obtained a judgment against you, debt settlement is an option. In a typical debt settlement, the debtor negotiates a lump sum payment that is less than the total owed. In exchange, the collection agency agrees to waive the balance.
It’s a good idea to have an experienced debt settlement attorney negotiate on your behalf. For one, an attorney will understand what sort of payoff amount is likely to be accepted by the collection agency. Debt settlement is a process that takes time and patience. While Arrow Financial may seem intimidating, The Fullman Firm has worked with them and countless other debt collectors to settle accounts on terms that save our clients money.
We also know how to make the debt settlement effective. Many collectors routinely trick debtors into falsely believing they’ve settled the debt. The debtor pays a sizable sum of money, thinking the matter is resolved, only to be contacted later and told they still owe. Our debt settlement will rid your life once and for all of the debt collector.
Take Action Now to Protect Your Rights
You don’t have to live with insurmountable debt or put up with annoying calls, letters, and lawsuits from debt collectors. If Arrow Financial has contacted you about an old debt, give The Fullman Firm a call. We’re ready to get started on your personalized debt settlement solution today.