Arrow Financial Services
Arrow Financial Services is a debt collection agency, if they've contacted you, you need the right information to fight back.
Regardless of a debt consolidation company's reputation or public relations campaign, they're generally not well liked by people who owe money.
Arrow Financial Services InformationArrow Financial Services is part of the Sallie Mae group and its job is to collect debts from people who are behind.
It is one of the biggest debt collectors, with more than $16 billion in consumer debt, according to the Arrow collection agency. It covers a wide range of debts, including student loans, utilities, retail, and automotive.
Like any other industry, debt collection agencies can be both good and bad. Some even engage in illegal activity, such as demanding money from people who owed the debt outside of the statute of limitations.
According to the Better Business Bureau, Arrow Financial Services does not have a great rating. In a system that gives letter grades from an A+ to an F, Arrow Financial has a D-. The Better Business Bureau says that the company has had 695 complaints filed against it, including three that were not resolved.
Some of the complaints include: failure to provide a verification of the debt that was allegedly owed, trying to collect debts that have been paid, and trying to collect accounts that don't exist.
What to DoIf you feel that a debt collector is trying to get debts from you that don't exist, you can file a complaint with the Better Business Bureau. But this alone may not make the problem go away completely.
You may also want to talk to a lawyer about your specific situation. If you do owe debts, you can talk to your lawyer about resolving those debts or coming to a debt settlement.
If you ever had credit card debt or any other debt, make sure you have paperwork proving that the debt no longer exists. And if you have any small amount of credit card debt or other type of debt that you can pay off quickly, try to do so. Many financial advisors would suggest that you try to pay off these accounts whether a debt collector is after you or not.
If you have debts, the best thing to do is not to avoid debt collectors, but to actually get out of debt. You can try eliminating the debts one at a time or you can try consolidating your debt. Contact a company that specializes in debt consolidation to find out if you can start working toward eliminating your loans.
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