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Does arbitration provision in cc agreement SURVIVE beyond SOL?


Mumof1
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Thanks to all who've helped me on another thread.  (Especially BV80 and others!)

Now a "head-scratcher."  (At least for me.)

If the debt on a cc is no longer collectible, because of the statute of limitations has passed, is there anything in that original cc agreement that survives beyond the SOL? 

Specifically, I'm asking about the requirement not to sue the OC. 

Does the law means that if the agreement stated we cannot sue an OC, does that means we can never sue an OC?  Despite the SOL?

Thanks so much for the wise people here.

Blessings,

Mumof1 

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41 minutes ago, Mumof1 said:

Thanks to all who've helped me on another thread.  (Especially BV80 and others!)

Now a "head-scratcher."  (At least for me.)

If the debt on a cc is no longer collectible, because of the statute of limitations has passed, is there anything in that original cc agreement that survives beyond the SOL? 

Specifically, I'm asking about the requirement not to sue the OC. 

Does the law means that if the agreement stated we cannot sue an OC, does that means we can never sue an OC?  Despite the SOL?

Thanks so much for the wise people here.

Blessings,

Mumof1 

Yes, an arbitration provision can survive beyond the SOL.

The SOL is based upon the cause of action.   Where is there a requirement not to sue the OC?

To what cause of action are you referring?

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Hi BV80,

Well, I'm likely confused about the definition of the "arbitration provision."  Sorry about that!

You asked, "Where is there a requirement not to sue the OC?" 

Answer:  I thought that the "arbitration provision," IS that requirement that cc account holders CANNOT sue the OC (in court). 

Am I wrong?

(Maybe start there and I can add after this.)

Thanks again and blessings!

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2 hours ago, Mumof1 said:

Hi BV80,

Well, I'm likely confused about the definition of the "arbitration provision."  Sorry about that!

You asked, "Where is there a requirement not to sue the OC?" 

Answer:  I thought that the "arbitration provision," IS that requirement that cc account holders CANNOT sue the OC (in court). 

Am I wrong?

(Maybe start there and I can add after this.)

Thanks again and blessings!

Unless the arbitration provision in the agreement states that all disputes MUST be resolved in arbitration, then arbitration is merely an option.  That’s why the OC sued you in court.  Both parties have the option of either court or arbitration.  

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Thanks so very much, BV80!

It is so strange that an attorney said he wouldn't want to take a case because of the "arbitration provision."    I'd love to be able to prove it to him that he could take such a case to court.  (If you wouldn't mind examples or agreements or websites, etc. )

Thanks always so much again, for your help!

 

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43 minutes ago, Mumof1 said:

Thanks so very much, BV80!

It is so strange that an attorney said he wouldn't want to take a case because of the "arbitration provision."    I'd love to be able to prove it to him that he could take such a case to court.  (If you wouldn't mind examples or agreements or websites, etc. )

Thanks always so much again, for your help!

 

Was he thinking about the possibility of a class action lawsuit for your claim(s)?  If so, that could be what he meant about being wary of the arbitration provision.  Class actions are not allowed in arbitration.  All the bank would have to do is MTC arbitration, and if the court granted it, a class action lawsuit would be out the window.  It would strictly be between you and the bank.

Class actions are more likely to be settled by banks and JDBs.  Those settlements cover the attorney fees.  However, if a lawsuit involves just one consumer, sometimes the banks and JDBs will fight in court (or arbitration).  If the consumer loses, and he had an attorney who accepted the case on contingency, that attorney doesn’t get paid.

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  • 2 weeks later...

Thanks again, BV80.  Sorry for the delay, but a weird week.

I think it may be possible that the attorney who turned me down may have been thinking about class action.

I don't know for sure about that attorney, but I found an attorney who's so far said he's "interested" in my case and asked me lots of technical questions -- (phone numbers I received, how many I have, etc.).  He said he'd do some research but definitely again said he's interested, so we shall see what he digs up.  I don't know what.

Also, I found out something--by accident--that may be help for others:  When the attorney told me that he needs to prove that the phone numbers actually belong to the OC, I decided to enter them in a search engine.  Wow.  Some of those phone numbers showed up at least one attorney on its website, blaming the OC at fault!   The only thing is that it doesn't show what states that attorney practices. 

So, I'm wondering if these attorneys DO have to be admitted in our states in order to file suits--on behalf of individual plaintiffs--over federal laws like TCPA?

Thanks again BV80.  You really helped me to give "just the facts" to give to the attorney.  I'm really, really grateful!

Blessings on your head and more! (I hope!)

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