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Exact Procedure for Arbitration

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Ok, I've been reading about arbitration on here and I'm just a little confused. Should I wait until I have been served to ask for arbitration or go ahead and do it now? Also, if I do it now do I send a letter to the attorney stating I want to invoke arbitration and ask for the credit cardholder agreement? Or do I just file with JAMS and send them a copy?

Thanks for your help!!

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Yes, I had the same question

I am about 3-5 months late on all my credit cards

no lawsuits yet ....

When should I send my creditors the arbitration election letter ?

Should I do it now to prevent a lawsuit .... or wait for a few more months ??

Thanks

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Arbitration is like a "wild card" in uno - It's a trump card. If you don't have the $$$ to settle say up to 20%, I would just keep DVing until you get sued. I DV until the original creditor hires a LOCAL DC/Attorney. It buys me time to prepare and I know a suit is coming. Once LOCAL has it MG05 DV. This way it may buy you some time to gather up some cash to settle. If you MG05 DV them you will also set them up for FDCPA Lawsuit if they do sue. There is no easy answer and will depend on each individual circumstance and state your in. If you initiate you must be prepared to settle sooner than later, if you elect, later than sooner.

Edited by SeaStriper

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So Seastriper

Is it you opinion that if a OC is offering 20% or less to settle the account, your advice is to settle.

I have alot of debt !! about 440k

I have settled about 2 accounts out of about 22

for about 25% or less

What I am finding in settlement is that some are at 20% and some are stuck at 50% and it is a little fustrating

Maybe the ones that are stuck at 50 % I will fight thru arbitration and DV

Do you notice that electing arbitration also gets better settlements ?

Thanks

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Arbitration will not only get you better settlement (IMO) you can also DELETE tradeline as part of the settlement. Arbitration is expensive so a bank like capital one who pays all arbitration costs it's a HUGE hurdle. It is very expensive at 500$ an hour plus, in-person hearing so on. RUN UP THE BILL. They will usually call or fedex you before commencement starts (IMO and experience). Attorneys are also tripping over fdcpa while the game is being played giving you MORE leverage and IMO a possible payout. Play the game until your happy, and if they still want to dance for 2 years of spending shareholder money (in which they are testing the waters - but for how long. As arbitration bills start piling up, they will be forced to stop flushing $$$ to prove a point) it also buys you LOTS of time... and even BK at the end if necessary. So many options...

What I am saying is arbitration is a BIG negotiation tool. You have to use it to your advantage. Only you know your situation and what you will be "happy" with. You could push arbitration so hard that you can have a mutual walk. On the other hand you could also push them to the point where it may be "worth" the fight. All depends on the amount, the venue, and the bank/agreement. Research everyones experience and then make a decision :)

When it's all done ----> buy me dinner ok xangelx

Edited by SeaStriper

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but soon realized it was more effective to kick a$$.

I only really settle at 10%, payable in 2 years.

Anything worse than that, I just fight.

Citi was contemplating 10%, payable in 2 years for a couple of weeks, but rejected. They haven't initiated or paid their arbitration fees for 18 months now in continual violation of court order to arbitrate.

Arbitration is the settlement hammer.

It seems upon exercise of clause 50-65% of cases are going away by dismissal. 20-30% are getting really low settlements, like 10-20% range or outright mutuaal stip of dismissal. The rest are in process, because mainly the consumer (or in rare cases, the OC/JDB) wants to spend the $$$$ to fight. This is based on anecdotal evidence...no scientific study has been done.

Never be afraid to fight!!!!!

But use the hammer. Swing it a few times and you will realize the negotiating power it gives you.

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Does mandatory state arbitration differ from the

arbitration that you would initiate?

In Pa. it is mandatory for a CC civil complaint

to be heard in from of a 3 atty. court appointed

arbitration board.

My summons came from a collector/atty

Weltman, Weinberg and Reis supposedly for

HSBC. W.W.R. has an office in PA.

I question if they are working for HSBC

but will not call HSBC to find out as all

is quiet since service. (5 mo. ago)

Until finding this forum it never occurred to me

to do other then wait as arbitration is already

a done deal, by way of the state.

Also, one other question. If Jams will not hear

the 3rd party scum ones, and Palisades Collection

bought accounts and therefore are 3rd party bottom

suckers,

would that suggest that they may not move

forward in Pa. because it would be under

mandatory arbitration?

Thanks in advance.

Edited by donquixotesquest
spelling

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Contractual Arbitration trumps Court Arbitration... Court Arbitration is something you do not want to agree to, you will lose control. Stick to contractual arbitration and you hole the power $$$$...

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Quick question-If I file the Motion to Compel Arbitration, do I need to file a separate Answer to the the Complaint or can I use a similar one included here that references it? Also, do I need to do a Debt Validation letter if I'm asking for Arbitration? Thanks!

BTW, Zwicker-AMEX

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Quick question-If I file the Motion to Compel Arbitration, do I need to file a separate Answer to the the Complaint or can I use a similar one included here that references it? Also, do I need to do a Debt Validation letter if I'm asking for Arbitration? Thanks!

BTW, Zwicker-AMEX

where are you in your collection defense? have you been served by a process server from the court?

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OK I am officially worried, scared and freaking out

Heres the deal I have Oregon ADR ARB scheduled next week. I tried to deliver a letter to elect ARB to the court on 12 they would not take it said it had to go to the Arbitrator (a local lawyer) so on the 13th I mailed it to her and CMRRed to the scumbags and to Discover. have not heared from anyone yet

But yesterday I received the stamped on the 15th greencard from the scumsuckers and a stack of papers

Includes a declaration of mailing (they never send anything CMRR) I always do

A motion to appear by telephone conferencing

A arbitration award settlement (this really scared me I thought they already won)

Prehearing statemment of proof with attached exibits

Exibit 1; affidavit in support of judgement from the state of Ohio???? it says he is the manager of the attorney placment for DFS and designated agent and custodian of records

Exibit 2; A signed Acceptance form from 1994 (this suprised me) it say I have read inportant info on back (it does not show info on back) I quess this could be considered

a signed contract I dont know

Exibit 3; is the card agreement (with the ARB clause)

Exibit 4; is copies a statement from 2003 to 2009

Exibit 5; is the origonal complaint I was served (with something I did not notice before it says suject to mandatory arbitration)

Exibit 6; is their response for my request for production

Today I recieved the geen card from discover stamed on the 16th

Well what do I do now coaches

Should I

1 File a MTC arbitration

2 Call them and record

3 initate ARB myself

4 get AAA form to take with me to hearing

5 wait till scheduled hearing to see if they proceed and violated their agreement (it states in there agreement only AAA or NAF forum unless both party agree in writing)

6 All of the above

7 Stick my head between my legs and kiss my a$$ good bye

What do you think my best strategy be right now

Edited by oregonpilot

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OK I am officially worried, scared and freaking out

Heres the deal I have Oregon ADR ARB scheduled next week. I tried to deliver a letter to elect ARB to the court on 12 they would not take it said it had to go to the Arbitrator (a local lawyer) so on the 13th I mailed it to her and CMRRed to the scumbags and to Discover. have not heared from anyone yet

But yesterday I received the stamped on the 15th greencard from the scumsuckers and a stack of papers

Includes a declaration of mailing (they never send anything CMRR) I always do

A motion to appear by telephone conferencing

A arbitration award settlement (this really scared me I thought they already won)

Prehearing statemment of proof with attached exibits

Exibit 1; affidavit in support of judgement from the state of Ohio???? it says he is the manager of the attorney placment for DFS and designated agent and custodian of records

Exibit 2; A signed Acceptance form from 1994 (this suprised me) it say I have read inportant info on back (it does not show info on back) I quess this could be considered

a signed contract I dont know

Exibit 3; is the card agreement (with the ARB clause)

Exibit 4; is copies a statement from 2003 to 2009

Exibit 5; is the origonal complaint I was served (with something I did not notice before it says suject to mandatory arbitration)

Exibit 6; is their response for my request for production

Today I recieved the geen card from discover stamed on the 16th

Well what do I do now coaches

Should I

1 File a MTC arbitration

2 Call them and record

3 initate ARB myself

4 get AAA form to take with me to hearing

5 wait till scheduled hearing to see if they proceed and violated their agreement (it states in there agreement only AAA or NAF forum unless both party agree in writing)

6 All of the above

7 Stick my head between my legs and kiss my a$$ good bye

What do you think my best strategy be right now

you need to start a new thread in the "is there a lawyer in the house?" section of this FORUM ASAP

http://www.debt-consolidation-credit-repair-service.com/forums/forumdisplay.php?f=177

it gets a ton more traffic than this thread. You will get a lot more help there.

hurry !!!!!!! xangelx

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Hello,

My husband was mostly served sometime Friday we think with a lawsuit from Discover. I say mostly because we have the papers but they were not served according to state law in Louisiana. Service here must be personal or domicilary only so and these were left by our delivery box outside our gate on a parish road....in a rain storm. Anyway, while researching proceedural rules, case law, etc to prepare his answer, we have 15 days, I ran across this forum and subsequently your threads on arbitration.

Anyway, I have been trying to speed-read all the arbitration threads, but have a very short time limit, so thought I should ask for help. Now that he has been served, is it too late to initiate arbitration? He has till May 8th, which is a Saturday, or technically Friday May 7th to make sure he is safe to answer. The attorney must wait those 15 days plus two before motioning for default or summary judgment. If we answer, he cannot win his motion and must wait. I had read something about the need to have a claim against the creditor for violations of the FDCPA or other federal statues for credit reporting etc, is that absolutely necessary? We are dealing with the OC through a local debt collection attorney, who I understand is considered a third party debt collector and bound by the FDCPA.

Discover attached a copy of their 2009 contract to the lawsuit that states under Arbitration, "the arbitation shall be conducted, at the option of whoever files the arbitration claim, by either the American Arbitration Association (AAA) or the National Arbitration Forum (NAF) in accordance with their procedures in effect when the claim is filed.....No other arbitration forum will be perimtted , except as agreed to pursuant to either the changes to this agreement section or a writing signed by both parties."

Now, since the card was charged off in 2009 and the only way to consent to any changes in terms in to use the card once the new contract/agreement has been issued (according to the way the OC's play the game)....the way I see it, this is the only contract/agreement that governs our accounts with them. Hence, they will be forced to abide by the terms...meaning that since neither of these arbitration companies will hear their claims, they are pretty much finished? Or am I missing something like those companies will not let consumers initiate artibtration with them against these companies either?

Okay, I eagerly am waiting for your reply. Should arbitration be our lifeboat, I will initiate the account ASAP and make this known in his answer to the court as well as Discover and their attornies as necessary.

Again, I appreciate any information you can throw my direction.

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Suggestion #1: Start a new thread. That will make it easier for people to give you advice on your topic. (Don't worry, I've made the same mistake more times than I can count. )

Suggestion #2: Arbitration election MAY be a very good idea. However, this varies from state to state. In some states, you have waived arbitration if you answer the lawsuit with anything other than election of arbitration. In other states, you can elect arbitration 5 minutes before the judge makes the judgement. Louisiana is notorious for its laws differing from the rest of the country. For example, La is the only state that hasn't completely implemented the UCC.

In a nutshell, election arbitration is probably a good idea. Initiating arbitration may or may not be a good idea. Make sure you find out the way to do this in Louisiana BEFORE you act.

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Will try the new thread!

Oh, Louisiana is very arbitration friendly. Basically, the Revised Statutes do not show a time limit for arbitration, but say that if the contract has an arbitration provision that it is fully enforceable. I will put the exact statutes on the new thread.

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Just now found this reply to my message. I have been served with the complaint. Plan to file MC/Stay tomorrow along with the Answer and attaching a copy of the letter to Zwicker electing arbitration. Sound all right?

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including court ADR! Alternative dispute Resolution (ADR) is not the same thing as the private contract dispute forum arbitration we talk about in this thread.

Instead of selection an ADR arbitrator in your court system...send them this letter and/OR initiate with JAMS:

Credit and Debt Problems Forums - View Single Post - Please help! Very nervous being Sued in GA by Capital One c/o Rubin & Debski

You want to be specific...you are demanding contractual arbitration, not "court system ADR". Refer to the court arbitration as "court system ADR". The contractual arbitration clause overides "court system ADR."

Here's the arbitration scoreboard (not court system ADR)

Pulling the arbitration card, Scoreboard.... - Credit and Debt Problems Forums

I am in oregon and have been sent to mandatory arbitration, there is no credit card agreement so I can't use that. It is over medical charges and implied contract. Any advice?

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does not look like you can do private arbitration :(

Do you have a lot of assets outside of your retirement? do you have a job they can attack a lien to your wages?

if you have a job and no assets think bankruptcy. If you have a lot of assets, put them somewhere they can't find them and fight them in court. if you lose try to settle for 10 percent of the lien in a couple years :twisted:

Actually if you get a good lawyer he can probably work something out with the other lawyer. they know bankruptcy always dissolves medical bills to zero. xangelx

Good Luck! :mrgreen:

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does not look like you can do private arbitration :(

Do you have a lot of assets outside of your retirement? do you have a job they can attack a lien to your wages?

if you have a job and no assets think bankruptcy. If you have a lot of assets, put them somewhere they can't find them and fight them in court. if you lose try to settle for 10 percent of the lien in a couple years :twisted:

Actually if you get a good lawyer he can probably work something out with the other lawyer. they know bankruptcy always dissolves medical bills to zero. xangelx

Good Luck! :mrgreen:

If you settle in arbitration can you still file banruptcy?

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