Ask Experts Questions for FREE Help !
Ask
    kjackson's Avatar
    kjackson Posts: 13, Reputation: 2
    New Member
     
    #1

    Aug 2, 2006, 07:31 PM
    Arbitration or litigation
    I hope you can give a little advise. I have fallen behind on my credit cards and now am being threatened with binding arbitration. I was told that I should dispute the arbitration as a violation of my rights and go to litigation so I can be heard in a court of law. To me this sounds risky to jump straight to litigation. Can you shed some light for me. Also, on another card that states in their agreement that they opt for arbitration I have been served a summons. Can they sue me when their agreement states that they opt to arbitrate? Please help.
    CaptainForest's Avatar
    CaptainForest Posts: 3,645, Reputation: 393
    Ultra Member
     
    #2

    Aug 2, 2006, 07:37 PM
    Quote Originally Posted by kjackson
    now am being threatened with binding arbitration. I was told that I should dispute the arbitration as a violation of my rights and go to litigation so I can be heard in a court of law.
    Whoever gave you this advice is doing you a favour as I think it is great advice.

    Sounds risky?

    Binding arbitration means that you and the credit card (cc) company pick John Smith, or whoever, to decided your case.

    You can do that, but if John Smith is some crook who makes side deals with the cc company, you are out of luck. And appealing it will be very hard.

    Personally, I would prefer it be settled by a judge in a court room (litigation).

    Sometimes binding arbitration is good though, but not in this case.
    kjackson's Avatar
    kjackson Posts: 13, Reputation: 2
    New Member
     
    #3

    Aug 2, 2006, 08:00 PM
    Thaks for the advis. How binding is arbitration? I understood that on its own it has no leagal merit to impse garnishment or other remedies that the creditor wants. I understood that they must take the arbitration award to court and get a judgement. Is that correct?
    CaptainForest's Avatar
    CaptainForest Posts: 3,645, Reputation: 393
    Ultra Member
     
    #4

    Aug 3, 2006, 12:00 AM
    Arbitration is binding, in that it is FINAL.


    Unless the arbiter makes a HUGE mistake when it comes to applying the law, you are stuck with the decision. Then, all the plaintiff must do is tell the court they have a binding arbitration and the court will award garnishment, etc.

    You will not be able to stop it.
    kjackson's Avatar
    kjackson Posts: 13, Reputation: 2
    New Member
     
    #5

    Aug 3, 2006, 11:46 AM
    Thank You

Not your question? Ask your question View similar questions

 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

Need Help on Fraudulant Will and Asbestos Litigation for my Father [ 2 Answers ]

I need some guidance. I believe that my mother has swindled my brother and I out of benefits if my Father’s Life Insurance and now an asbestos litigation. My father died 6 years ago from Asbestos cancer. My mother did not show us or send us copies of the will. She said that there was no life...


View more questions Search