Cap One Arb - Before suit, or wait until filed?

[wonderingone]

Hello Group:

I have an old $6K+- Cap One account in the hands of Hunt Henriques as attorney for the original creditor. The last payment was made in 2008 and I’m in Cali and I believe have about another 6 months before the SOL expires. I received a 5-day letter of intent to sue.

I have no idea where my original Cap One agreement is. I found the 2008 Arbitration agreement on the net.

I am familiar with litigtation and work in collections, so am familiar with filing answer, motions and judgment collection etc etc.

Is it best to send over an arbitration demand before a suit is filed?

If so, how do I find the details of my Cap One agreement since no discovery would have been completed?

Or roll the dice, see if they file since the SOL is coming up?

Or, is it better to initiate JAMS instead of an arbitration demand?

Your thoughts would be appreciated

[Linda7]

You're in a great position!

You need to send them a letter "now" electing arbitration. If they sue, you have them on a violation. Send it by fax immediately and then send it CRRR and make sure to put your article number from your CRRR stub on the line at the bottom of the letter before you seal the envelope.

Your Name

Your Address

Their Name

Their Address

Re: ____________(Account number they show on the letter)

November ____, 2011

Dear ______________,

This letter is in response to your letter dated _____________________ (copy enclosed) regarding the collection on the account number listed above.

Pursuant to Capital One cardholder agreement, I ELECT private contractual arbitration via JAMS to resolve all of our disputes.

As per the agreement, "If you or we elect arbitration of a claim, neither you nor we will have the right to pursue that claim in court . . . "

All phone calls are inconvenient, so all communications need to be by mail.

Regards,

Your Name Typed

Certified Return Receipt #_________________________

Edited November 14, 2011 by Linda7

[skippy1960]

I would fire back a letter electing arb, based on the 2008 agreement. This will do a couple of things.

It notices the plaintiff of your election and sets up that you communicated to the H&H pre suit filing the venue to resolve your differences. Also creates evidence of your election to use in your MTC arb later.

They likely wont answer, which creates denial to arbitrate after being notified.

This sets up just what you need for CCP 1281.2. (California Rule of Procedure).

My experience with H&H was upon election, they sold the account to another JDB. They like easy default or minimal work, meaning a defendant that folds after answer or misses a procedural hurdle.

For the amount you are talking, I would expect them to give up at some point, hopefully upon reciept of your election letter......

[Linda7]

Here's your agreement - CAP1-1_merged 2008.zip - 4shared.com - online file sharing and storage - download

[wonderingone]

Wow, MANY, MANY THANKS for your immediate responses. Glad I found this place!

Edited November 15, 2011 by wonderingone