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Re: National Arttribution Forum


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Posted by kelly from nevada (205.188.209.12) on January 22, 2003 at 13:13:43:

In Reply to: National Arttribution Forum posted by Bev on January 22, 2003 at 01:28:35:

Bev , this is just one of about 3- 4 arbitration companies that are currently being used for arbitration on reciently defaulted ( 12 mo or less ) credit card accounts .. all this arbitration nonsense pertaining to credit cards was origionally started by MBNA in 1999 on all their new accounts but more reciently added by just about all major banks to their credit cards by simply sending out amending agreements to ALL their credit card holders which they all mostly have by now in sending them out in your billing statements over the past year or so .. this is currently working its way thru the courts & will in no doubt make it to the supreme court becouse in many law experts eyes this arbitration code as written WAS NEVER meant to be applied to credit cards & their debt so this is why its very slow on being acted upon ( becouse the courts may eventually reverse the arbitrators win & that would be very costly to all banks ) with very few actually going thru the process as of YET but like i say MOST of us are all bound by arbitration but my guess is 95 % of people still have no idea that they signed away all their legal rights once applying for the card or just by using the card even 1 time after recieving the cards amending agreement .. answer to your question is " i believe " from what im understanding IF you already lost in arbitration than you lost and you gotta live with the results by national arbitration & even if you didnt lose from what i understand over 98 % of all people will lose once before them & this is why its in the courts right now becouse you have really no legal rights to ANY court over this whether state OR federal , i know crazy huh lol .. the good news is reguardless of what they say this is still all 100 % dischargable in bankruptcy so they can blow but hey just my opinion , goodluck .. kelly .............


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