| Message |
Author |
 Posted: Mon Jun 18, 2007 3:31 pm Subject: The scam of Arbitration |
|
|
(From Bud Hibb's Blog)
| Quote: | The Scam of Arbitration
Filed under: Arbitration Justice — budhibbs @ 4:13 pm
The Scam of Arbitration
Debt collectors, junk debt buyers and bottom feeders are looking to enrich themselves through arbitration claims filed with the National Arbitration Forum, Minneapolis, MN. Some of the organizations filing arbitration claims include Wolpoff & Abramson, Baltimore, MD, Collect America (CACH & CACV) Denver, CO, Mann-Bracken, Atlanta, GA ,NCO Financial Systems, Baltimore, MD and Midland Credit Management.Arbitration is an area most consumers have little or no knowledge of and the system is set up to take advantage of that. The National Arbitration Forum (NAF) is biased in favor of those who file claims because their filing fee of $250/per account is what keeps them in business.
To give you an idea of how this functions, let’s use our Washington bureaucracy for an illustration: NAF is the Congressional representative writing laws. Debt buyers are the lobbyists looking for favorable results on their investments. They write a check to the NAF, the arbitration claim is filed, the NAF pays a local lawyer to rubber stamp awards in favor of the debt buyer and just like Washington, they make a ton of money, while you get screwed. Sound familiar?
The attorneys they use are from your local area (with exceptions) who are also paid a fee of $250/hour with the expectation they will handle up to six claims per hour. Do the math, does this sound ethical? The arbitrators rubber stamp their approval, many lie and sign statements that are false and perjured so they can stay on the money side of the NAF.
The arbitration process conducted by the NAF is a corrupt system of big bucks designed to screw the consumer who is mostly kept in the dark about the process and how it evolves. I have seen many awards where attorneys lied in their statements just so they could collect the $250/fee. (Does this sound like a lobbying organization?)
There are ways to take on this corrupt system and turn the tables on the National Arbitration Forum and the lawyers they pay to make awards against you they may not be entitled to. A national group of consumer attorneys is fighting the arbitration system head-on.
If you are threatened with, or served an arbitration claim get in touch with me for assistance and referral to an expert who can assist you. If you fail to respond to an arbitration claim, it could eventually end up with a judgment against you, so the time to take action is when you are threatened or served.
Contact us at: budhibbs(at)budhibbs.com assistance |
http://budhibbs.wordpress.com/tag/debt-collection-industry/
_________________
Where there are hard working people being harassed or threatened, I will be there. My site: http://anthonylemons.blogspot.com
Avoid these Agencies: http://www.budhibbs.com/coll_to_avoid_list.htm
Contact any government official here: http://www.congress.org/congressorg/home/ Contact any State Attorney General: http://www.naag.org/
Federal Trade Commission: http://www.ftc.gov/
|
|
AnthonyLemons
Debt Samaritan
Joined: 17 Feb 2007
Posts: 1827
Debtcc Points: 18434
|
|
|
| Posted: Mon Jun 18, 2007 5:02 pm Subject: |
|
|
Great information Anthony, more useful information that I will store away for potential use in the future should the occassion ever arise.
|
|
TweedleDee
Joined: 05 Jun 2007
Posts: 79
Debtcc Points: 0
|
|
|
| Posted: Mon Jun 18, 2007 5:22 pm Subject: loan |
|
|
Thanks Anthony for that post. I have always heard this. Budd Hibbs rocks. KYSIDE38
_________________
RYDERS OF THE NIGHT
|
|
KYSIDE38
Joined: 19 Jun 2006
Posts: 2502
Debtcc Points: 37310
|
|
|
|
AnthonyLemons
Debt Samaritan
Joined: 17 Feb 2007
Posts: 1827
Debtcc Points: 18434
|
|
|
|
Shazzers
Moderator
Joined: 05 Dec 2007
Posts: 4299
Debtcc Points: 27347
|
|
|
|
cajunbulldog
Moderator
Joined: 20 Dec 2006
Posts: 4886
Debtcc Points: 37793
|
|
|
|
Shazzers
Moderator
Joined: 05 Dec 2007
Posts: 4299
Debtcc Points: 27347
|
|
|
|
|
|
cajunbulldog
Moderator
Joined: 20 Dec 2006
Posts: 4886
Debtcc Points: 37793
|
|
|
|
Shazzers
Moderator
Joined: 05 Dec 2007
Posts: 4299
Debtcc Points: 27347
|
|
|
| Posted: Thu May 22, 2008 7:09 pm Subject: |
|
|
Is this different from mediation?
|
|
lmale
Joined: 28 Mar 2008
Posts: 476
Debtcc Points: 3657
|
|
|
|
Shazzers
Moderator
Joined: 05 Dec 2007
Posts: 4299
Debtcc Points: 27347
|
|
|
|
cajunbulldog
Moderator
Joined: 20 Dec 2006
Posts: 4886
Debtcc Points: 37793
|
|
|
