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Re: MBNA - turned over to Wolpoff & Abramson


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Posted by observer (64.12.96.205) on January 26, 2003 at 11:50:19:

In Reply to: Re: MBNA - turned over to Wolpoff & Abramson posted by malibu on January 26, 2003 at 10:00:43:

Arbitration allows the cc company to bypass the court system. You agree to allow complaints to be heard by an "impartial" arbiter whose opinion is binding. Should they rule against you, the decision can be carried to a judge who will then authorize the judgment holder to commence collection through wage harnishment or whatever else your state allows. MBNA started including it in the card agreements a few years ago and have been sending out letters to current card memebers asking them to submit to arbitration.
BTW, something like 98% of the decisions are in favor of MBNA.


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