When a bank or other company charges off your account, Arrow Financial Services L.L.C. May purchase it for pennies on the dollar. The account may have been dead for years, but AFS will then report it to the major credit bureaus, saying you owe THEM. Then, they report that you have not paid on the account since they purchased it, giving you another 7 years of bad ratings on top of the already 3-4 years the account had been dead.
You can send "form letters" to them to no avail. Sending a copy to the credit bureau, the Illinois Attorney General, and your BBB usually gets them to take notice. The Credit Bureaus know your account had been dead, but they play ball with AFS just to have something to do. You can challenge online AFS and their name will be removed temporarily from your credit reports. Send their agent for service of process a small claims court demand and if the amount is small enough they won't hire an attorney to attend. You then send a copy of your award to the Credit Bureaus and this time they won't add AFS again.
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