admin Posted October 13, 2010 Report Share Posted October 13, 2010 http://www.smartmoney.com/personal-finance/debt/fight-for-your-credit-card-rights/The American Arbitration Association has had a moratorium on consumer debt-collection arbitration since July 2009 because the program “showed weaknesses” in the arbitration process, according to the group. Link to comment Share on other sites More sharing options...
daytona Posted October 14, 2010 Report Share Posted October 14, 2010 That is true for creditor initiated suits, the main "weakness argument" is a high amount of non-participation by debtors in the process. If a debtor MTC's Arbitration per the contract, or exercises arbitration provisions then it is hard to argue that a debtor is not willing to participate. Debtor's are still able to arbitrate in AAA against business's, including credit card companies, if they initiate. Link to comment Share on other sites More sharing options...
Recommended Posts