Report: #335937

Complaint Review: Arrow Financial Services LLC And Retailers National Bank (Mervyns Account)

Submitted: Fri, May 30, 2008
Updated: Mon, June 02, 2008

Reported By: Debbie — denver Colorado U.S.A.

Arrow Financial Services LLC And Retailers National Bank (Mervyns Account)

5996 W. Touhy Ave. Niles, Illinois U.S.A.

Phone: 847-557-1100
Web:
Category: Employees

Arrow Financial Services LLC And Retailers National Bank (Mervyns Account) Pestering me 16 years AFTER I had a Mervyns card PLUS claiming I owed $1593.92 when it was ONLY $400 Niles Illinois

*Consumer Suggestion: Arrow does not collect debt, they invest in it.

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16 years after I had a card and NOW they come after me (don't they ever give up?). Plus I owed only $400 and they refuse to correct the amount even though I mailed them and said it was only $400--the Mervyns charge card only had a limit of $400 and they wouldn't let you charge more than that but despite this they won't correct it. Also odd is they keep mailing the letter saying they're offering a "settlement amount" of "only$239.09" which is suspicious since I've heard of scams involving fake settlement offers, if you pay the settlement amount the creditor never gets the money and the "collections agency" takes off with dough<--considering this scam being out there I'm not about to pay and have my money get stolen then still get a blotch on my credit report anyway.

Debbie
denver, Colorado
U.S.A.

This report was posted on Ripoff Report on 05/30/2008 10:26 PM and is a permanent record located here: http://www.ripoffreport.com/r/Arrow-Financial-Services-LLC-And-Retailers-National-Bank-Mervyns-Account/Niles-Illinois-60714/Arrow-Financial-Services-LLC-And-Retailers-National-Bank-Mervyns-Account-Pestering-me-16-335937. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.

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Updates & Rebuttals

#1 Consumer Suggestion

Arrow does not collect debt, they invest in it.

AUTHOR: Not Thermal - (U.S.A.)

SUBMITTED: Monday, June 02, 2008

Odds are, the bank is not involve at all (they may even wonder what you are talking about). Arrow most likely purchased a write off debt from the bank for a few cents (if that much) on the dollar. They then go after people in an attempt to collect time barred debt. I hope you did not tell them (Arrow) you owed any money, that will give them what they need to "renew" the debt.

I am dealing with an issue with them right now as well. While you may want to check a few more resources as to what you should do and what your options are. There is a lot of information on the web that should help considerably. Another place to start is the Attorney General of your state and the state of IL.