AFS ASSIGNEE OF GE CAPITAL CRE .. Can you tell me what this means ?

Question

I am trying to repair my credit report and from all of the help I have received on here, I'm getting somewhere now. But on some quite old accounts, like almost 7 years old, I want to find out where it comes from and what it is before I open it and I am on Experian and AFS ASSIGNEE OF GE CAPITAL CRE is all it says about original creditor and the amount and I don't recognize it. any help here ? I don't want to open the dispute, just find out who this is ?

Answer 1

AFS is probably(?) Arrow Financial Services.

When a debt is assigned that means the original creditor, GE, still owns the debt but has farmed it out to a collection agency.

You might go to the link I've provided and look for the statute of limitations (SOL) for your state. There is also a good SOL letter template on a link from the main page on that site.

You might also go to the second link I've provided and do some reading in the credit forum. There is also a good unknown debt letter template in the sample letter forum.

Both sites are free to read and use. The second site is free to ask any questions you may have.

If the account is almost 7 years, there is a good chance you are out of the collecting SOL.

If you are out of the collecting SOL, try sending a dispute to the CRA's (credit bureaus) that they are reporting on before sending AFS a validation letter.

If AFS verifys, you might want to send the unknown debt letter and after they respond or 35 days, whichever comes first, send the SOL letter (if you are out of the collecting SOL)

Arrow is currently being sued by the Illinois AG for illegal practices in debt collecting- yay.

Answer 2

It means the original bill was from GE Capital. GE probably sold a bunch of accounts that they couldn't collect to AFS. AFS is a collection agency.

If you have stuff that is 7 years old, you're probably past the statute of limitations. You may not have to pay that stuff. E-mail me if you have questions.

Answer 3

I have found on the net that there are a lot of things about fixing your credit you can buy some good some not. I started to use one of those companies that help with consolidation but, I bought these programs that have worked wonderfully. If you follow their easy instructions you will improve you credit and credit score. They even have the forms or letters you should use to send to the credit bureaus. I even bought the programs for my daughter who filed bankruptcy and she has improved her credit also. They teach you everything, how to increase your fico to reading your report and how to go about cleaning your report. I try to tell everyone about these programs because they are so good. These people know what they are talking about and have done the research and they are patterned after someone who filed bankruptcy and how he fixed his credit and now has even better than he had. I feel I have gotten my moneys worth buying them. The address is below.