Another question we get from many of our readers is “Who are Arrow Global?”

Arrow Global is part of Arrow Financial Services and is said to be Based in London (although we are having trouble confirming this)

Arrow Global is a debt collection company and is an active purchaser of credit card debt, personal loans, overdrafts an many other forms of unpaid credit.

The company has already purchased approximately £600,000,000 in debt, managing approximately 250,000 customer accounts.

Arrow Financial Services originated in the USA and have recently entered the UK and European markets.  They were founded in 1961 and are looking to establish their “reputation” even further.

So lets talk about that “reputation” of theirs…  From the emails and comments we receive, it seems that Arrow Global aren’t very nice people.  Rudeness, intimidation and harassment are just a few of the words we have had as a way of describing them.

There is also the matter of their address.  Many people have reported that there is no clear address to write to on the correspondence.  We do know that all the Arrow Global companies are registered with Companies House as limited companies. They are therefore obliged to comply with United Kingdom company law – this means that their letterheads and other stationery must show their place of registration,  registration number, and registered office address. The registered office cannot be a PO Box or mailbox address. If the letters don’t show all these details, they have committed an offence.

Some of the companies that Arrow Global buy debt from are MBNA, Lloyds and Orange amongst others.

We have got report of this company buying old debt that is no longer enforceable and chasing customers for it.  Furthermore it seems that they are not stopping there.  They are logging this debt on these customers credit reports even though this is unlawful.

Some of Arrow Global’s Customers have said…

“on the phone they had no interest in my dispute, they are rude & arrogant, telling me i am required by law to give my financial details over the phone”

“I sent cheque for money owed then was told cheques were not acceptable. I told them I have to debit/credit cards to pay over the phone. I was threatened then that they would default me. There is no where in any documents to say a cheque is not acceptable….I Felt threatened and scared by the operator”

The OFT set out in it’s Debt Collection Guidance a number of guidelines that a company collecting from you should comply with.

You should not feel intimidated if you are contacted by this company.  Arrow Global or any other debt recovery company can not force you to repay more than you can comfortably afford each month.

If you make a reduced payment, Arrow Global can not refuse it.  You should also remember that Arrow Global can not add charges as a penalty if you do not pay.  The only charges they can levy are  those to cover the real costs of collections activity.

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