arbitration?

[havetodecide]

I just got a package from UPS of one of my accounts from some attorney office representing the creditor and it says i have 30 days to respond? (national arbitration forum claim - not sure what it means) Is this already a lawsuit or they will file one after 30 days if i don't respond?

My paralegal said i should be receiving my final papers this week or next for my review, not sure what i should do besides wait for the papers and file ASAP...Appreciate any feedback

Thanks

[treehugger1]

Don't quote me on this, but my understanding of "arbitration" is that it helps keep debtors and creditors/CA's out of court rooms (the banks, creditors, etc pushed for this a few years ago.) However, as far as I know not showing up for an arbitration meeting is no different than not showing up for a civil court proceeding. The creditor simply wins and/or gets what the arbitrator or judge (if courtroom) awards, which would probably be the debt in full plus attorney costs to the plaintiff (creditor/CA.) If youa fre filing a 7, I'm not sure if it makes a bit of difference whether you respond or not. The debt is the debt is the debt.

My personal experience is with a national credit card company who mentioned they might invoke the arbitration clause of the "contract." I told them it didn't make any difference to me, I readily admit I owe the debt, but arbitration or not, I can't pay the debt in full (what they were asking.) I have no more reason to show up in an arbitration meeting than I would currently show up for a civil summons regarding a debt I know I clearly owe. Oh, you can play the "answer" game, but if you are going to file, what difference does it make? In terms of not filing and "showing up" for arbitration or for a summoned civil suit regarding debt, one might need to answer to address extreme attorney fees asked by the creditor/CA.

Hopefully, others on this forum have had some experience with the modern method of arbitration when it comes to discharge of debt or including "arbitrated" debt in a BK 13.

[havetodecide]

It makes sense. It says "If you owe the money and would like to arrange to pay the debt, please call the office. This may avoid the necessity of proceeding with the arbitration process"...so i guess this is not just scare tactics, they will be taking me to court after the 30 days with no response from me?

I will contact my lawyer and see if there's a way to accelerate my filing date.

Thanks treehugger1!