Cat123 Posted August 21, 2012 Report Share Posted August 21, 2012 I couldn't find the answer to these questions...If you go through arbitration (the other side decides to go through with it and spend the money), and the end "bill" is say....$20K:1. Your beginning tab is only $6K. Are you responsible the rest and2. Can the binding arb amount be taken care of in BK?Thank you! Link to comment Share on other sites More sharing options...
Cat123 Posted August 21, 2012 Author Report Share Posted August 21, 2012 My answer to my questions would be "Yes" and "Yes". Link to comment Share on other sites More sharing options...
racecar Posted August 21, 2012 Report Share Posted August 21, 2012 Cat your still going to win dont let them scare you.They look like a bully act like a bully talk like a bully but when you kick them in the jimmies with arbitration they will run for the hills.You better go read the winners thread to get you thinking like a winner again. Link to comment Share on other sites More sharing options...
Cat123 Posted August 22, 2012 Author Report Share Posted August 22, 2012 Shucks, I'm not worried... not with all my "Board Buds" !I'm just curious because "what if" they should continue down that road, and the bill ends up way up there ? If arbitration costs can be wiped out in BK, and they know it's an option for me, it just seems they would be fools to continue.I have to admit that when I made the decision to just "stop" borrowing from Peter to pay Paul and got past the emotion of this whole debt mess, BK was what I was expecting, and really not worried about having to go that route.BUT, then I discovered this board and started learning how to fight. Shoot, my credit is shot for a while. Be a long time before it's 850 again.... but that's ok. All in time. Link to comment Share on other sites More sharing options...
ladyhunter Posted August 22, 2012 Report Share Posted August 22, 2012 it just seems they would be fools to continue.QUOTE]Nothing else needs to be said. Link to comment Share on other sites More sharing options...
BrunoTheJDBkiller Posted August 22, 2012 Report Share Posted August 22, 2012 It is a good question, however. Most of us have not done ARB, we just recommend it as a good strategy that runs contrary to the JDB business model. Maybe Linda7 would know. I though about this myself.....what happens to the amount ARB costs if you lose? Do you get stuck with the whole tab on top of the judgment amount? Link to comment Share on other sites More sharing options...
DonqIII Posted August 22, 2012 Report Share Posted August 22, 2012 It is a good question, however. Most of us have not done ARB, we just recommend it as a good strategy that runs contrary to the JDB business model. Maybe Linda7 would know. I though about this myself.....what happens to the amount ARB costs if you lose? Do you get stuck with the whole tab on top of the judgment amount?Not necessarily.I have not gone the entire way but know someone who was with an OC.She did loose and they requested the costs to go to them.The Arbitrator said no. It was JAMS and she did end up in BK.All worked out in that.She was from VA. Link to comment Share on other sites More sharing options...
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