Explain: Agreement to Arbitrate

well arbitration is when you sit down with an arbitrator and like try to come to a settlement or conclusion. Like a Mediator. I am kinda confused because usually an arbitration takes place before TRIAL when someone has already put a lawsuit out. So quite frankly I am confused. I would ask them to show you in the contract what clause mentions the arbitration. I work at a law firm so I am curious to see what they say.

When I took out the loan, I signed an agreement to arbitrate and also a waiver of right to jury.
They say I can either pay the $100 every two weeks-or-contact them about pending bankruptcy. I have not contacted them yet as I want to be better informed.
I read over the things on the site for arbitration and using their services, but it reads like I have to pay money to file a claim against them. I owe them the money, I just cannot pay this much every week.

You can go to arbitration for a storefront pdl. It's just (like posted above) sitting down with the pdl, an arbitrator (impartial party), and yourself and settle a dispute between you and them. Normally, you can work out arrangements that are acceptable to both parties. The storefront is trying to get you to pay $100 every two weeks. You can't afford this. You can sit before an arbitrator and state your case explaining that you can not possibly afford to pay that amount of money - period. You may be able to work out a smaller amount of payments every two weeks or maybe $100 a month rather than twice a month, etc. I'm really unsure about you having to pay money for anything. I'm not sure what you mean by that. If the storefront is taking you to arbitration, show up. Plead your case. More than likely you can work out something that you can afford.

egyptcrossarabs.......

Just beware that arbitration leans more toward the creditor and less toward the consumer.

Arbitrators would not be in business if they favored the consumer.

Just something to keep in mind if you choose that route.

roadwarrior, isn't the arbitrator an "impartial party"? So, wouldn't that mean that they would take into consideration that egypt can not possibly pay this amount and come to some sort of agreement that she can live with?

cannr...you would think that would be the case. I know that the "mediator" or "arbitrator" in my divorce proceedings was an "impartial" party and they just tried to get us to come to an agreement. Didn't work. . . Satan is just too evil. I would assume that this would be the same?

I tried to call the Org for arbitration and only got a switchboard with a voicemail that they would return my call. I have no idea what they meant exactly. Cannr. I will copy the e-mail they sent me and PM it to you.

egypt, I got your pm and responded. Did you contact them first?

llw, I'm thinking this is the way it's usually handled. I mean, that's how they handle it here. But, I guess I can't speak for everyone. I know another member on here (I think from Ohio) went to mediation/arbitration regarding storefronts. The member sat down with the pdl, the arbitrator, and himself and they worked out payment arrangements.

I have not contacted the storefront yet. I meant to call the corp. office and then got this letter. I had no idea what to expect about this arb. thing. If that will be done unless I pay the $100 every two weeks ofr what? Is this arbitration thing bad...can they garnish wages? You know, the normal questions.