Re: Arbitration Award
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Posted by Why Chat (209.240.198.61) on October 18, 2003 at 02:41:21:
In Reply to: Arbitration Award posted by TheTruth on October 17, 2003 at 23:38:51:
To the best of my knowledge, the only"successful" use of compulsary arbitration in debt collection has been intimidation. The following cases are a sample of what happens when someone fights these tactics. The arbitration clause in the finance agreement failed to provide the minimum guarantees required to ensure that a debtor could use the statutory rights provided by TILA and so the arbitration clause was unenforceable. When an arbitration clause has provisions that defeat the remedial purpose of a statute such as TILA, the clause is not enforceable. Citation Randolph v. Green Tree Financial Corp., 178 F.3d 1149 (11th Cir., 1999) ARBITRATION – Balancing test must be used before lifting automatic stay to enforcement of clause (D. Del.), 783 – Changes in credit card contract requiring only arbitration not binding where card use discontinued (Cal. Ct. App.), 67
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