bk85

Velocity Investments LLC/Avant Webbank

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Date of loan: June 16th, 2016

Date served: December 27th, 2019

Amount :  $4275.00

Original creditor: Avant Webbank

JDB: Velocity Investments LLC

Law firm: Berndt & Associates P.C

SOL: 6 years

Looking for any help with this case. I have 21 days to file an answer. Any help would be greatly appreciated.

I have included everything they provided me at time of service. Redacted ofcourse.

Velocityredacted.pdf

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Yes it is attach in the complaint and provided (velocityredacted.PF) above.

6 minutes ago, Harry Seaward said:

Do you have a copy of the original contract? Arbitration is going to be your best bet if it's available in the original agreement. 

https://www.creditinfocenter.com/community/topic/329436-arbitration-overview-and-strategy-2018-most-up-to-date-info/

 

 

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The arbitration clause starts at paragraph 20 on the agreement, and it's a sweetheart deal. It covers all claims, including applicability/validity of the clause itself, and affirmatively limits your cost exposure to what you have had/will have to pay in court.

Read through the first few posts in the link i provided above to get info on how to use arbitration to leverage Velocity to dismiss. 

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So i got this in response to my notice of arb election. I have not even filed a MTC yet. So my question is: Do i still have to file MTCA if we both agree to arb before Pretrial? Or should i have a Order ready for the judge to sign at pretrial to stay? Response attached.

velocity response redacted.pdf

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Just an update. An Attorney hired by the Attorney representing Velocity Investment appeared at pretrial. The Judge openly admitted that he has never sent a case to arbitration and didn't know how to proceed. I ended up walking out of there with a motion to stay. The judge agreeing to 60 days to file the arbitration. Velocity investment agreeing on the record to pay all arbitration fees including advancing the filing fee. Plus once the arbitration starts the Judge agreed to dismiss the case with prejudice. So to work i go on filing the arb. 

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I just received an email today to myself and to the Jams person that the Plaintiff does not want to pay the filing fees. Jams requested 1750 and from them. How should i proceed? 

On 1/19/2020 at 10:42 PM, Harry Seaward said:

I would bring your own MTC to the pretrial just in case, but it doesn't look like you'll need it. 

 

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Wait for JAMS to respond, then file in your court a motion to dismiss with prejudice on the ground that plaintiff has declined to exercise their right to prosecute their alleged claims against you.

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On 4/27/2020 at 7:43 PM, Harry Seaward said:

Wait for JAMS to respond, then file in your court a motion to dismiss with prejudice on the ground that plaintiff has declined to exercise their right to prosecute their alleged claims against you.

I just received the strike list today. I guess they figured it wasn't going to work out at court on friday. So i assume they paid it. How does this whole strike list work. Do i strike the lowest wage one first or the highest?

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You need to research the arbitrators.  You want someone who is pro-consumer.  A background in Legal Aid, public interest law, etc.  Avoid someone who is pro-business, background in banking, creditors' rights, etc.

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3 hours ago, nobk4me said:

You need to research the arbitrators.  You want someone who is pro-consumer.  A background in Legal Aid, public interest law, etc.  Avoid someone who is pro-business, background in banking, creditors' rights, etc.

The most expensive one is all of those. Do i list them 1st,2nd,3rd, 4th? and strike the least favorable? 

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48 minutes ago, bk85 said:

The most expensive one is all of those. Do i list them 1st,2nd,3rd, 4th? and strike the least favorable? 

Did they give you instructions?

IIRC, when I did my lists for JAMS, they asked me to strike X number of names, and rank the others in order.  So yes, 1,2,3...

In theory, at least JAMS would try to find the arbitrator most acceptable to the participants.  But they won't give you an arbitrator you struck.  

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