Originally posted by flyinbroke
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Did you mean the hearing of the regular court or the hearing of the arbitration? so it takes a while for the arbitration company to get to the case too? -
Also what do write in the motion to compel arbitration? do you need state you pick JAMS? I have a Citi Professional Card but I can't find the card agreement online. I wondered if JAMS is listed as an option.Comment
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flying do you need to attach your card agreement (at least the pages indicate arbitration) as exhibit A for the motion to compel arbitration?Comment
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- Citi has all of its agreements on its website. I think all cards are on there as there are a lot of them.
-I did attach a copy of the entire agreement to show that it was an option, that it kills litigation and I elect it. I had already initiated JAMS so I attached the application. Normally you won't have to state which one, you just show that you initiate.
-One of your affirmative defenses will be a lack of SMJ because of wrong venue; you elected arbitration so the court no longer has SMJ. A MTC will depend on your state's rules.
Yes, it will take a while to get arbitration rolling. First they accept, and the initial payment has to be made. I will use my first case since it is farther along:
June--Elected arbitration
July--Reminded the CA law firm I elected arbitration.
August--Got an intent to sue from CA law firm.
--Sent letter to both CA and OC telling them that suing is a violation of, well, lots of rules. Also informed OC (same as yours) that since they now know the CA's actions, they are liable for all their sins under state laws.
--Initiated with JAMS.
September--They filed a suit anyways. (Yes, Virginia, this is a huge no-no.)
October--Suit ultimately dismissed without prejudice. OC finally pays the initiation fees.
--Time to pick an arbitrator...you and the other side get to choose. I got who I wanted.
November--Other side pays the arbitrator retainer fees. First call is scheduled for next month.
December--Other side offers 50 percent off to settle. I reject, letting them know this lawsuit will cost them big time and they will lose. I said zero percent, will cut my claim in half, mutual dismissal with prejudice.
--OC fires this firm a day later and brings in a new one.
The next call in January set up scheduling...with a hearing in June. Bearing in mind that I started in August, yes, it takes a while. Arbitrator will look to get you to settle before the hearing. Mind you, he is getting paid for his time by the OC the entire time. You won't see the bills, but it costs 800-1K to initiate. Then the retainer can range anywhere from 2K to 5K. Average cost per hour is 400-500 for an arbitrator.
A smart OC will settle well before you get to this point. Some won't pay at all which means it is administratively dismissed. This still stomps out the ability to sue in court.First consult: You go now, no CH 7 for you. You spent entire buffet. 13 has a 95 percent payback. (Owwwch) On to next consult....Comment
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Thanks a lot for the detail infos. I just came back from an attorney's office, I told him about credit card company has to pay way more than consumers. He said he never heard of it. He thinks both parties pay the same in an arbitration. He said from his experience JAMS is expensive. I am kind of confused now....is there anywhere I can find the fees for arbitration online? Maybe there is specific laws in Virginia that give a break the consumer on paying arbitration fees?Originally posted by flyinbroke View PostComment
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Your lawyer is thinking of nonconsumer arbitration; this does get expensive since the entire cost is split in half. Consumer arbitration is not; JAMS only requires you to pay the first 250, and AAA varies depending on the amount claimed but I don't think it goes over 375.
And a lot of attorneys know nothing of consumer arbitration because, until recently, it was an easy road for instant judgment in the creditor's favor. When NAF was around, the CC companies flocked to it, because it was cheaper than court and they won about 99+ percent of the time. Then the Minnesota AG blew the lid off when it was discovered their company funds shared hedge funds with several big banks and two large collection agencies. So much for fair playing field....but now they are shut down for consumer arbitration.
The only ones left are AAA and JAMS. You would have to use whatever is in the agreement (Citi's newest have JAMS, which is better.) Both are better than NAF, and neither will accept a CC arbitration as they don't want to be the next NAF. They do accept them from the consumer though, which is great if you have claims against them.
He is correct about one thing...JAMS is expensive, just not for you. You as the consumer won't see the bill, but I know of one person at the same stage as I am that convinced the case manager to show him the bill...it was already at over 20K (remember, the arbitrator bills by the hour and most are retired judges). Another CC company drove someone else into the six digit range over a 25K bill, before crying uncle (apparently JAMS costs are almost never awarded to the consumer.)
For information:
AAA is www.adr.org
JAMS is www.jamsadr.comFirst consult: You go now, no CH 7 for you. You spent entire buffet. 13 has a 95 percent payback. (Owwwch) On to next consult....Comment
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I was sued by Citi on a $5000 balance exactly 10 months after default. It took them over a year to finally get a summary judgment which I am paying on monthly so it won't be recorded. I have 11 cards defaulted and they were the only to sue altho I have just received a letter from an attorney for a Bank of Omaha card.
They were totally inflexible about settling unless I could come up with 75% of the balance in 2 monthly payments. Long story, I did not answer summons (thought I'd be filing Chpt 7), but did DV them and then filed a late answer several months later. For whatever reason, they had 2 opportunities to easily get a default as I did not show for two hearings. I did go to the 3rd and final hearing - honestly the most humiliating experience of my life - I live in a very small county and criminal and civil cases were heard by the same judge and everyone was privy to every word that anyone said. Their attorney would not settle for anything less than full payment on a payment plan.
I've made the first payment, but am now, with 9 more cards and possible suits once again thinking of filing chpt 7.
As others stated, I called 3 attorneys and all said Citi will fight and you will end up losing and paying. Thank god I only had one card from them. I have 6 from Chase and have been hearing that they are starting to sue as well. .Comment
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Fascinating stuff.
When you go to arbitration, what do you say?
And if the case is dismissed, are there the same tax consequences as in settlement?
Keep On Smilin'Comment
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"December--Other side offers 50 percent off to settle. I reject, letting them know this lawsuit will cost them big time and they will lose. I said zero percent, will cut my claim in half, mutual dismissal with prejudice."
what if JAMS rule for Citi then would you stuck with a judgement at least at the original debt balance amount?Comment
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