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mandatory arbitration and 222


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13K suit

Tried to contact OC on a debt that was soon to be in suit; OC gave me other phone numbers to call....ended up being the Nat atty network mentioned by another poster. Are they assigned debts to chase, and the OC retains ownership?

Ended up talking to an atty office. They would not settle. They accepted a payment arrangement which I made believing I would stay out of court. They took two payments, then sent me a "consent to judgement", which I will not sign. I have continued making payments.

Attached to complaint was an affadavit stating that the affiant knew of the record keeping, etc (appears to be from OC), one statement, generic agreement. My signature not on "contract".

Not sure if they bought the debt as it is OC v. me, but all my checks are made out to an atty. Did they buy the debt? Do I need chain of ownership?

Have since been to court several times; tried to settle and get dismissed/prejudice(wrote an agreement for order), but judge said he could not make them accept settlement, so he made a date for arbitration (I was shocked but later read that it is mandatory in IL) and said I could present my case then. Case? Gulp! Now what?

He said that we both have to submit a rule 222 disclosure and I have to answer the complaint (w/i a few days).

If the ownership is not an issue, they have the record keeping affiant, and statements, what can I argue?

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Some of the larger banks use the atty network to collect the debts. So think of them as a collection agency, not a junk debt buyer. Chase still likely owns the debt, although now the attorney's handling the case are subject to FDCPA since the attorney's themselves are not the OC.

You may have a tough time defending this in court since they have access to all the documentation. The attorney's are not likely to want to settle because their compensation is based on amount collected (it is questionable whether this is legal or not).

If private arbitration is available in JAMS by contract, you might consider that route. File a Motion to Compel Binding Arbitration and move the case out of the local courts jurisdiction. That will slow the case down, cost the plaintiff more money and soften them up for a possible settlement offer that is reasonable.

If you go the private arbitration route, read up on it in this subsection and understand how to use it to your advantage and understand the procedural issues that go along with it. At 13k, they may pay the fees and participate in JAMS, but at worse it will buy you additional time.

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