Re: Arbitration

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On 12/26/07, LMC wrote:
> On 4/11/05, Amanda wrote:
>> I recently recieved an arbitration letter from Mann
>> Bracken. I prepared a refusal of arbitration and a request
>> for validation. My question is if they get the arbitration
>> and I still can't afford to pay what can they do? Please I
>> am very unfamillar with legal things tell me whatever you
>> know about this process and / or this company.
>
>
> I received and arbitration letter from a credit card
> company - Attorney rep. How should I respond? Dispute the
> debt. I requested a copy of the contract in October never
> received it.
>
> What should I do

If you actually want a copy of the contract, you might check
the credit card company website or call their customer service
number and request that they send you one.

If you believe that claiming you did not ever receive a copy
will aid in your defense--I doubt it. It is common business
practice to send out a contract when you are granted a card.
Also amendments are mailed. It usually looks like a junk mail
promotion so most people don't look at it even if they could
read and understand it. A court or arbitrator would likely
believe the CC company if they said they sent you a copy of
the contract.

As for what you should do--Get professional legal advice if
you plan to contest the debt. Without your own attorney
guiding you through this, the CC company lawyers will always
win. If you want to see some of the basics of credit industry
regulations, you might look at the Truth in Lending Act [15
U.S.C. 1601 et seq.] Just GOOGLE it and you can read lots of
reports and outlines of what a consumer's rights are under the
ACT.

If you acknowledge that you owe the money, look around your
locality and see if there are any truly non-profit debt
counseling services. Be careful of the ones that advertise.
Although they may say they are non-profit, they actually
affiliate with for profit consolidation loan companies who do
make a big profit. Some (many) actually may take advantage of
you and put you in a worse position than you are already in.
Try to ask social service agencies like legal aid for a
referral to a real not-for profit debt counseling service.