midland credit management
My fight with MIdland Credit Management 2011-09-21 at 00.10.mov
Midland credit management is threatening me with arbitration. What does this mean?
I am trying to get my credit good by working through my debts one bill at a time. One of my accounts got sent ot Midland Credit Management. I spoke with one of the representatives trying to set up a payment schedule. She would not work with me on a 12 month plan. She would only go for 5 months on a higher amount. She then grew upset and pushy and informed me that they would be taking me to arbitration. I then tried to call the company back just to get a mailing address to send them a letter request verification that I have a legal obligation to them.
In my opinion, arbitration is usually biased and the only one that benefit’s is the creditor/collector.
If they are pushing for it because there was an arbitration clause in your original agreement, you do have a legal right to refuse arbitration.
If it is in your original agreement – some of what it violates:
House Resolution 5162 which amends Title 15 USC 1601 of the Consumer Credit Protection Act
the Federal Arbitration Act (S. 192)
H.R. 1054 and 3607 that amend the Truth in Lending Act make pre-dispute mandatory arbitration void and unenforceable
Plus, there is “plenty” of case law to back that up.
You might click on my profile and click on the last link I have listed. It is a totally free site and you can ask where to find the arbitration refusal sample letter template (which is also free to use) in the Credit Forum.