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Milberg LLP Files Class Action Against NAF for Consumer Fraud


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NEW YORK, NY -- The law firm of Milberg LLP has filed a class action lawsuit in the United States District Court for the Central District of California on behalf of all persons who used NAF's arbitration services during the period from June 1, 2006 to the present, inclusive (the "Class Period"). The complaint is available from the Court or can be viewed at Milberg LLP's website at www.milberg.com.

Until recently, NAF held itself out as a leading forum for consumer arbitrations, which is how many consumer debt disputes are resolved. An arbitration forum must above all be impartial, so that consumers can be confident that their disputes with creditors (e.g., banks, credit card companies, phone companies, etc.) will be heard fairly, as would be the case if the dispute was resolved by a court of law. The class action lawsuit filed against NAF and related parties alleges that NAF has misled consumers for years in this regard because it was owned by and/or beholden to a debt collection agency and debt collection law firm, such that in reality it was a debt collector, not a neutral forum for resolving disputes by the debt collection industry against consumers. The result of these alliances was near perfect success rates by debt collectors against consumers in NAF arbitrations.

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If ever there was a RICO case this is it when you look at the holding companies and the ownership thereof etc. I can not beleive that somewhere in the background there is not a criminal investigation going on. These guys make Madoff look like a kid shoplifting candy from the corner store.

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