Arbitration Questions
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Posted by mesmerist (129.252.84.69) on February 06, 2004 at 08:25:31:
My state South Carolina. Background:
I have an arbitration on 2/10/2004 (ECast for MBNA $39000+costs). I received the ECast evidence/exhibits paperwork for arbitration from the lawyer representing ECast on 2/4 postmarked 2/2/04.
The arbitration date was set in December after I had requested a participatory hearing. I was first notified of the request for arbitration in August. I replied that I had opted out of arb. in my reply and asked for a participatory hearing. I did not send a fee. The Nat'l Arb Forum sent a notice that since I didn't pay the fee they would hold a document hearing within 30 days (the 30 days expired in October). I immediately served/mailed a response that said requiring me to pay a fee would violate the fair credit act by in effect charging me for ECast's collection activity. In December, I was notified of the participatory hearing without requiring a fee from me. They are claiming Delaware laws per the 4/2001 revised agreement. The CC card agreement in the exhibit is listed as "Revised 4/2001." Last payement listed was 11/29/2000. It became overdue on 1/12/2001). I do not recall the details of this account and my signature is not on anything in the exhibits. In 2000-2001 I lost $145,000+/- in the market. I had over $110,000 in CC debt and $14,000 margin debt (Ameritrade) at the time. I had and currently have no tangible property. I just created some CDs for a new business with trademarks (state of SC). Current net pretax income $18,500. Current debt is $6500.
All active CC have been current (within 30 days) since 2/2001. My questions are:
1. What should I expect at the Arbitration?
2. When all this mess started in 2001, I needed the cash for living expenses instead of filing bankruptcy. Should I file now?
3. What Approach should I take at the arbitration? Thank you! Frank
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