I'm mystified.
I just learned that Arrow Fin. has made inquires on my credit report in May 2008 and again in August 2008. They own a loan that had been serviced by OSI/NCO. I had made nominal payments on it from 1995 to present. Apparently, all these payments were applied to the principal. The 2 loans are about $1,000/each or $2,000.
Arrow Fin. took these loans back from NCO. They then issued new letters to me as though it was a loan new to them. They offerred me to settle for 75% of the outstanding amount.
Any sense of what is going on here?
It drops off my credit report in 11/08.
QUOTE (cc2277 @ Oct 11 2008, 12:27 AM) 
I'm mystified.
I just learned that Arrow Fin. has made inquires on my credit report in May 2008 and again in August 2008. They own a loan that had been serviced by OSI/NCO. I had made nominal payments on it from 1995 to present. Apparently, all these payments were applied to the principal. The 2 loans are about $1,000/each or $2,000.
Arrow Fin. took these loans back from NCO. They then issued new letters to me as though it was a loan new to them. They offerred me to settle for 75% of the outstanding amount.
Any sense of what is going on here?
It drops off my credit report in 11/08.
I just learned that Arrow Fin. has made inquires on my credit report in May 2008 and again in August 2008. They own a loan that had been serviced by OSI/NCO. I had made nominal payments on it from 1995 to present. Apparently, all these payments were applied to the principal. The 2 loans are about $1,000/each or $2,000.
Arrow Fin. took these loans back from NCO. They then issued new letters to me as though it was a loan new to them. They offerred me to settle for 75% of the outstanding amount.
Any sense of what is going on here?
It drops off my credit report in 11/08.
CA's never own student loans...they simple service the loans for the quarantor or loan holder. Any payments made would have been applied to any fees first, then interest and finally principal.
I would suggest settling the loans before you end up being sued. Private loans sue as a regular course of business.
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