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Midland Funding


Slau
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Hello,

Any advice is appreciated

Received summons and complaint today.

original creditor Barclays Spirit cc, amount is about 1500.00

unsure if I can arbitrate, can't find the cc agreement for 2007. Current cc agreement states consumer is responsible for all collections including arbitration.

Thank you

 

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This would work best if you only have one thread running for this topic.  Multiple threads can cause a mess.  

 

As soon as I get to work this morning, I'll see if I can find an old credit agreement.  If I recall right, the CFPB has copies on file, but I dont know how far back that goes.

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Here is one from 2007

http://teh402.blogspot.com/2010/03/barcleys-bank-arbitration-agreement.html

And this one is the closest one I see in effect from 2011

https://www.barclaycardus.com/app/japply/banking/marketing/rangedcma/Ameriprise_Financial/Standard_Credit_Agreement.html

I would probably use the 2011 agreement, but both arb clauses are almost the same.

 

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Thank you.

It appears that the 2007 gives me two options NAF and AAA.

would my chances be better in court?

they provided two cc statements one showing last payment and the other 12/2012.

a generic bill of sale stating "accounts sold "but not mine specifically and an affidavit from someone at Barclays stating information regarding account

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It's midland funding, bought the debt from Barclays.

i re read the cc agreements.

The 2007 does give the option of Jams and says the creditor will reimburse fees.

The 2011 says I would bear the costs of all collection fees.

Does that mean I would have to pay their portion for arbitration?

sorry for asking so many questions, but I want to make sure I don't get stuck paying 10k for a 1500 dollar debt.

Thank you

 

 

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1 hour ago, Slau said:

It's midland funding, bought the debt from Barclays.

i re read the cc agreements.

The 2007 does give the option of Jams and says the creditor will reimburse fees.

The 2011 says I would bear the costs of all collection fees.

Does that mean I would have to pay their portion for arbitration?

sorry for asking so many questions, but I want to make sure I don't get stuck paying 10k for a 1500 dollar debt.

Thank you

 

 

I would use AAA for a Midland account.  AAA doesn't arbitrate with Midland and that will make it difficult for them to move forward if the court grants your MTC.

The 2011 agreement states " Under no circumstances will we seek from you payment or reimbursement of any fees that we incur in connection with arbitration. "  On top of that, the AAA consumer rules state that a consumer fees are capped at $200.  You would not be required to pay more than that.  JAMS consumer cap is $250.  I would read and become familiar with the consumer rules of the arb forum you choose.

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  • 1 month later...

I made a critical error by sending the Ameriprise cc agreement rather than the  2007 Barclays cc agreement. 

My MTC hearing is tomorrow and midlands attorneys sent an opposition to my MTC stating wrong cc agreement and that I used a affirmitive defense of lack of standing waives my right to request arbitration.

help!

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