jasen

NAF no longer accepting consumer arbitration claims

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http://www.adrforum.com/main.aspx?itemID=1529&hideBar=False&navID=175&news=3

 

What does this mean for anyone whose account agreement specifically states they have the right to elect arbitration?  We have to take the creditor to court to force them to file the claim for us?  Or is that clause voided as it's now uneforceable?

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It would depend on the contract or agreement. If the agreement had a severability clause (most do), then only that clause would be invalid and should disputes arise, regular civil law would apply (which means you can go to court). If the contract did not have a severability clause, then it could void the whole contract depending on state law.

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