Re: Settlement Advice needed in CA

Posted by Kelly (205.188.209.12) on August 04, 2002 at 23:07:17:

In Reply to: Re: Settlement Advice needed in CA posted by kelly from nevada on August 04, 2002 at 22:31:18:

Last fall, MBNA {and other cc companies as well} sent out arbitration agreements to active cardholders. Basically, you settle disputes in front of an arbitrator and not a judge. Apparently, MBNA is using this agreement to pursue people who have defaulted on their cards. They get a ruling from an arbitrator and then takeit to a judge for enforcement. A way of bypassing the court system as well as any protections from the FDCPA.

I've not followed your saga much since Why Chat seems to have your situation well in hand but, if your card is MBNA don't worry. It deals with active accounts at the time the arbitration went into affect. The length of time since your default would preclude them from using that against you.

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