- Report: #332259
Report - Rebuttal - Arbitrate
Complaint Review: Arrow Financial Services
Arrow Financial Services5996 W. Touhy Avenue Niles, IL 60714 West Paterson, New Jersey U.S.A.
Arrow Financial Services ARROW FINANCIAL! Economic Stimulus SCAM????? West Paterson New Jersey
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Interestingly, the second paragraph reads as follows. This set off all kinds of red flags and alarm bells:
Over 130 million American households will be receiving economic stimulus checks from the US Treasury Department. If you receive an economic stimulus check, you can use this special opportunity to settle your outstanding debt to us for only 15% of your Total Current Balance listed above.
***Settlement Amount: $622.23 *** You Save $3525.95 ***
I found this interesting, because of course, the amount of my economic stimulus check is $600. I have no intentions of taking this "special" opportunity to pay on something that is simply NOT mine.
The letter goes on to state that I can pay off the bogus settlement amount of $622.23 by June 6, but, under "special" circumstances, they may take less than that amount. I believe this is a tactic of so-called "scavenger" debt collectors.
Also, I noticed that there are NO instructions on how to dispute the debt, which I thought was required by law to be included on the letter?
I have not contact this agency as of this date (5/12). I have, however, contacted the FTC to file a complaint, and I placed a fraud alert on my credit reports. If this particular item appears on my credit reports, I will absolutely dispute it.
Has anyone else ever had an experience like this, and what did you do to resolve it?
West Paterson, New Jersey
This report was posted on Ripoff Report on 05/12/2008 07:43 PM and is a permanent record located here: http://www.ripoffreport.com/r/Arrow-Financial-Services/West-Paterson-New-Jersey-07424/Arrow-Financial-Services-ARROW-FINANCIAL-Economic-Stimulus-SCAM-West-Paterson-New-J-332259. 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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