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Arrow Financial Services – Debt Buyer Closed Shop – Debts Purchased – LVNV Collecting

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Arrow Financial Services was once a major player in buying up bad debts like charged off credit card bills. One of the more aggressive ways Arrow sought to collect on old unpaid credit card debts was to use the courts.

Debt buyers like AFS send some of the debts they buy up on the cheap to an attorney debt collection law firm. Arrow and other bad debt investors rely on the fact that 90% or so of people are not sure about how to deal with a debt collection lawsuit.

People get served a summons and complaint on an unpaid credit card bill and tend to put their head in the sand. What winds up happening when the lawsuit gets ignored, or where a person was not aware they were being sued (it happens), is a default judgment is entered. Those judgments can then be collected on, or even sold off to another debt buyer.

Arrow Financial closed up shop. Where did the debt go?

In just the last week I have gotten a couple of questions on and off line about how to find where Arrow Financial Services judgment debt has gone. In all cases the requests were related to:

  1. Someone trying to qualify for a mortgage and underwriting suggests they cannot approve a new loan, or the approval on a new loan will have an increased likelihood of success by settling old judgment debt.
  2. Someone trying to sell a home and satisfy or settle the judgment debt in order to pass clear title. Even if the home owner is trying for a short sale.

It is difficult to find much public information about who purchased the Arrow portfolio, or portions of it. According to a person I spoke with last week, they have a former arrow judgment account that they tracked to LVNV now owning.

LVNV is a large debt collection agency.

LVNV is part of the Resurgent Capital Management and Sherman Acquisitions brand. I was able to confirm that Resurgent/Sherman/LVNV brand did pick up a “good portion” of the Arrow Financial Services debt portfolio.

If you are looking for how to resolve or settle Arrow Financial Services debts, start by reaching out to LVNV. You can reach them by calling their customer service at: 888-665-0374.

If you have any questions or concerns about resolving an old Arrow Financial Services debt with LVNV, or another debt collector, or having trouble finding who has your debt, post questions and comments in the comments below for feedback.

Filed Under: debt collection

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About Michael Bovee

Michael started CRN in 2004 with a mission to provide people in need with detailed debt and credit help and education. Michael has participated as an expert panelist in federal consumer protection rule making, collaborated on state law changes governing debt consolidation, has worked as an expert witness in court matters related to the debt relief industry, and is a regular contributor to several personal finance websites.

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Comments

  1. AvatarBrenda Bagwell says

    We are trying to refinance our home. When a title was pulled on my husband a “lien” from Arrow Financial was noticed. This is very odd as it did not show up when we purchased this home. We had sold another home and did pay off many bad debts of his at closing. One to LVNV funding, however not in the amount listed with these Arrow people. Why would this not show up from the sell of the former house and now 2 years later appear when we are trying to refinance. These bottom dwellers are a special kind of evil, in my humble opinion

    Reply

  2. AvatarJavier Alvarez says

    I just received a letter for withholding of my payroll, but everyone I call they have no info. Im trying to find out if this really belongs to me since I have had problems in the past with someone using my social. can someone please help me. I will give you my girlfriends email since I do not have any access to one at the moment

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    • AvatarMichael Bovee says

      Fill out the questions using the bot you see on the screen. It is designed to get me the basic details I need and to schedule a free phone consult with you.

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  3. AvatarJack Richardson says

    Default Final Settlement in Florida Court 9/14/2009 plaintiff Arrow Financial Services. I was unaware that this ever happened until last Friday when contacted by Nations Recovery Center Inc of LVNV Funding LLC. Was told that if I didn’t pay total they would/could freeze/seize my bank account. I have limited income of Social Security $1500 per month and am 70 yrs old. Barely making it on SS and Nations wants me to put the total on 3 available credit cards that I have but don’t use because of inability to pay for things I can’t get on cash. I’m willing to try and pay but I’d be homeless if I had to make minimum payments on $7000 credit card debt. Saw your You Tube that indicated that they couldn’t grab my bank account which was a big relief if heard it right. What do I do?

    Reply

  4. AvatarJoseph Walmsley says

    I am trying to find information about an account I was told that as sold to Arrow Financial, I need to know who holds the account now or who Arrow Financial sold the account to.

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  5. AvatarCindy says

    Hi requesting assistance. My husband has an old judgement from 2008 with Arrow Financial. We just received a grant appointment of reviewer from our courts. What is this and why did we receive this? We are in Texas.

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    • AvatarCindy says

      I have tried calling the attorney and get the run around. I am at my wits end and would like to try and resolve this before any further action is taken. Please help

      Reply

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