Short answer
Arrow Financial Services closed up shop. The Resurgent Capital Management, Sherman and LVNV brand picked up a good portion of the Arrow debt portfolio. If you are trying to resolve or settle an old Arrow account or judgment, start with LVNV customer service at 888-665-0374.
Key points on this page
- Arrow Financial Services was once a major buyer of charged off credit card debt, and one of its more aggressive collection methods was using the courts.
- There is little public information about who bought the Arrow portfolio, but the Resurgent, Sherman and LVNV brand is confirmed to have taken a good portion of it.
- To trace and resolve a former Arrow account, reach out to LVNV at 888-665-0374.
- Default judgments happen when a summons and complaint gets ignored, or when someone never knew they were being sued. Those judgments can then be collected on, or sold off to another debt buyer.
- The two situations that usually force this search are mortgage underwriting asking for old judgment debt to be resolved, and a home sale that needs clear title, including a short sale.
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:
- 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.
- 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.
had a judgment from national city bank. Arrow sent me a letter with a payoff figure. Said if I pay it I will satisfy debt. National has a lean on my trailer. Now i paid off and loan was satisfied. In turn they were suppose to notify title in PA. Take lean off and receive title. Well. National city closed shop and was taken over. Well it was done in 2008. Years later wanted to sell. Called up dmv they have title and lien was still on it.
Ps please respond to inquiry
I would talk this over with an experienced debt collection consumer law attorney in your state,
I have a lien on my house title, from Arrow Financial. This debt did not show up, when myself & my husband were purchasing the home. The debt is not on my credit report. I know they closed down. I never had this debt. How do I remove this lien off of my house title.
It sounds like there was a court judgment that you were not aware of.
What is the balance owed as of today?
Who is the collection law firm that handled this?
I had a judgment from national city bank. Arrow sent me a letter with a payoff figure. Said if I pay it I will satisfy debt. National has a lean on my trailer. Now i paid off and loan was satisfied. In turn they were suppose to notify title in PA. Take lean off and receive title. Well. National city closed shop and was taken over. Well it was done in 2008. Years later wanted to sell. Called up dmv they have title and lien was still on it.
I am trying to sell we inherited and arrow financial put a lien on the property 16 years ago. Now the bank doesn’t want to hold in money in escrow and keep looking for a payer. That does not exist. what are our options?
Have you contacted LVNV Funding to see if yours was a judgment debt they bought from Arrow Financial? If you have, and they do not own it, I would talk to a real estate attorney in your area about next steps.
If LVNV owns the judgment you can resolve this with them.
I am trying to sell my house and found out there’s a judgment against me through arrow financial services. I called the number you show for LVNV and spoke with them and they have nothing on file. But I have a judgment against me through the court system. I’m not sure who is carrying this debt.
This may be one of the situations I have seen where the lien holder cannot be located to send a payoff request. The title company involved in the sale of your home is who would typically do that. You may want to ask what happens when they cannot pay the lien off the normal way. Sometimes they will hold an amount of funds back for a certain period of time.
The court the judgment is in may be a resource to help you understand what needs to happen from here as well.
I was just informed that a settlement from Arrow Financial Services with an account number. It appears to me to be fraud as I have no record of ever dealing with said entity. This includes notifications on all three credit reports. I refused the offer. My question is was that the right decision? Do I need to report this somewhere? Thanks in advance for the input.
Can you be more specific with what you have going on?
Who informed you about a settlement with Arrow Financial? What are the names of any other companies involved?
Are you seeing Arrow Financial, or one of the other entities on your credit reports as of today?