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Re: Arrow has 6,631 lawsuits/IRS Lien in TX
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Posted by Paul
(216.127.68.137) on March 14, 2004 at 15:45:42:
In Reply to: Arrow has 6,631 lawsuits/IRS Lien in TX posted by Bob3 on March 14, 2004 at 12:44:29:
Thanks for posting those numbers on Arrow. Are you referring to Arrow Financial with the 6631 lawsuits, or IRS liens or ? Which number is which? Anyway I decided to toy with those numbers in the calculator and came up with some figures here. According to Arrow, they’ve purchased $10B worth of charge offs. Arrow is a 2 cent on the dollar debt buyer just like Asset Acceptance, so they paid around $200M for that face value of debt. I’m presuming that their business model is very similar, so I’ll also assume their average account is the same as Asset Acceptance, $1000. Therefore, they would have around 10 million accounts with a face value of the $10B. Now, Texas has a population of 22 million in a nation of 280 million. So if Arrow has 6631 lawsuits in Texas, to extrapolate this out to the United States as a whole would lead one to presume that Arrow has approximately 85,000 lawsuits out of a total of 10 million accounts. That gives the likelihood of being sued by Arrow at 0.0085 or just under one in a hundred. These are great numbers for anyone with an Arrow account. And if by chance, you lose the lottery and are sued by Arrow, just show up in court. They don’t have any documentation to prove these accounts.
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