Re: Arbitration - MBNA c/o Wolpoff & Abramson

Posted by Drew (24.59.27.46) on December 15, 2003 at 10:02:55:

In Reply to: Arbitration - MBNA c/o Wolpoff & Abramson posted by Neo on December 15, 2003 at 09:26:47:

At this point you have nothing to lose but a judgment and everything to gain. I would request validation again. They are not willing to settle because they feel they have enough to win a judgment and they don't have to. If they are willing to press forward for judgment, they want to make sure they become secured creditors. That is why they press for judgment and arbitration. Becuase if you go bankrupt, and you are forced into a payment plan, secured creditors get paid first and the judgment creditor becomes first on the list to get paid. This is why they are doing it.

Is bankruptcy an option?

Follow Ups:

Post a Followup