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    Muriam3's Avatar
    Muriam3 Posts: 2, Reputation: 1
    New Member
    		  
    #1

    Nov 19, 2007, 05:06 PM
    Notice Of Arbitration
    I received a notice of arbitration today in the mail for a debt owed to Bank of America.I am to respond with a letter to answer to the claimant by 30 days and also to be filed with the National Arbitration Forum.They also request A Counter Claim, Cross Claim,or Third party Claim must also be delivered and filed with the Forum,and accompanied by fees which I am unable to afford to send.
    I am on permanent disability,workmans compensation and on very limted income.I know I should respond but don't have those fees to send them.I know Bank America won't except small monthly payments because my debt is to high,not without 50 to 75% down.
    What will happen if I don't respond?Will I receive a judgement against me?
    ScottGem's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
    Computer Expert and Renaissance Man
    		  
    #2

    Nov 19, 2007, 05:24 PM
    Yes if you don't respond a default judgement will be listed against you. But if you are judgement proof this may not matter.
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