Author Topic: Declaring BK during or after Arbitration with JAMS?  (Read 2900 times)

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vg

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Declaring BK during or after Arbitration with JAMS?
« on: November 19, 2015 03:58:12 AM »
I have recently been ordered to begin arbitration with JAMS against Discover card . Can I declare BK
Before I am set to go to arbitration if it gets that far ? If I am possibly faulted in arbitration at that point can I declare BK??
Thanks

howucantoo

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Re: Declaring BK during or after Arbitration with JAMS?
« Reply #1 on: November 19, 2015 04:14:49 AM »
You're in a panic mode. Take a breathe.

Is this the only debt you have? Declaring BK for such a small amount is insanity.

The worst thing you can do is go through BK and god forbid get a hefty medical bill , then you're stuck with collection for the next umpteen years.

Read the arbitration section threads/ posts. If you are to go through arbitration then you must know the ins and outs of it. The more you read the better you understand the process.

Arbitration is a weapon of mass destruction, it is expensive  and no one likes it (except unrepresented consumers). You learn from others who experienced  the proceedings.
But it's up to you to learn.
I am not an attorney, just  type" A" personality.
If you need legal help, you should seek legal counsel.
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bonedaddy77

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Re: Declaring BK during or after Arbitration with JAMS?
« Reply #2 on: November 19, 2015 04:51:49 AM »
Listen to howucantoo. BK should remain in your back pocket assuming the debts are large. Even if you were to lose in arbitration most contracts have an appeal clause to redo the whole thing. Also if an award were issued to Discover they'd still have to get it turned into a judgement. This can drag on for a while.

Bruno the JDB Killer

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Re: Declaring BK during or after Arbitration with JAMS?
« Reply #3 on: November 19, 2015 01:35:10 PM »
Also, you need to read about BK and learn how it works. It's not something where you just fill out a form and that's the end of your debt. They can deny you, and usually will for a small amount.
I am not an attorney. Any information I post is strictly my opinion and should be treated as such.

CleaningUp

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Re: Declaring BK during or after Arbitration with JAMS?
« Reply #4 on: November 19, 2015 03:30:48 PM »
Who ordered you to go to arbitration?

Note that your cost for arbitration is capped, while the costs of your opponent are not.

By initiating the matter, you start a meter running for them that will cost that thousands to pursue since they will be obligated to pay what the meter reads less your $250 contribution.

When the bills start coming in for their foolishness of including an arbitration clause in their contract, they have good incentive to settle for a permanent and mutual walk-away.

BK, if I were in your situation, would not be an option,



« Last Edit: November 19, 2015 03:35:36 PM by CleaningUp »

coltfan1972

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Re: Declaring BK during or after Arbitration with JAMS?
« Reply #5 on: November 19, 2015 03:54:45 PM »
Can I declare BK.

Yes.

Would it likely be an epic and disastrous mistake? Yes.
LexisNexis® Legal Newsroom- 05-17-2013 | 10:11 AM --

JONESBORO, Ark. - A federal judge in Arkansas on May 15 ruled that dismissal of a consumer's lawsuit against a debt collector is not proper because although the consumer posted messages on a website "in an odious manner," valid First Amendment concerns exist (Brandon Scroggin v. Credit Bureau of Jonesboro Inc., No. 12-0128, E.D. Ark.; 2013 U.S. Dist. Lexis 69070).

kevinmanheim

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Re: Declaring BK during or after Arbitration with JAMS?
« Reply #6 on: November 19, 2015 04:06:16 PM »
You're in a panic mode.
This.

Stop panicking.

You are a long way from BK, and doubtful it will come to that.

Be quiet, don't panic.

shellawella

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Re: Declaring BK during or after Arbitration with JAMS?
« Reply #7 on: November 19, 2015 04:28:21 PM »
I have been where you are. For my first step into arb I was scared, unsure, and panicked. I wanted to file BK too. That was almost 6 years ago now! I have not had to file BK.

I have been through arb numerous times, including an arb appeal all the way. I still have not had to file BK. All cases were settled to my satisfaction except one. That one is ongoing in it's 5th year :)

Research and learn. Arb is a strategy for a more level playing field, time, getting away from court, costing the OC so much that they end up settling.

Don't panick! Learn not to show weakness! It will pay off down the road.
My comments are NOT legal advice!
shellawella

Bruno the JDB Killer

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Re: Declaring BK during or after Arbitration with JAMS?
« Reply #8 on: November 19, 2015 04:37:44 PM »
She asked a couple of simple questions and everybody wants to send her for shock treatments. I see no panic in her post. The debt is $7300. Not a good candidate for BK. Maybe she has other debt, she didn't say.
I am not an attorney. Any information I post is strictly my opinion and should be treated as such.

howucantoo

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Re: Declaring BK during or after Arbitration with JAMS?
« Reply #9 on: November 19, 2015 04:57:13 PM »
She fired off two simultaneous posts /back to back . One asking for JAMS procedures with DC bank and second was this one. You don't think that's panic?
I am not an attorney, just  type" A" personality.
If you need legal help, you should seek legal counsel.
My PM is turned off.

Bruno the JDB Killer

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Re: Declaring BK during or after Arbitration with JAMS?
« Reply #10 on: November 19, 2015 05:00:24 PM »
Nope. The posts were half an hour apart. You'll have to ask her, I just don't see any panic.
I am not an attorney. Any information I post is strictly my opinion and should be treated as such.

coltfan1972

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Re: Declaring BK during or after Arbitration with JAMS?
« Reply #11 on: November 19, 2015 05:29:16 PM »
The debt is $7300.

And you know this how?

EDIT.....

Oh, I see the OP started two threads for the same thing.   

Obviously a good way to confuse those willing to help.
LexisNexis® Legal Newsroom- 05-17-2013 | 10:11 AM --

JONESBORO, Ark. - A federal judge in Arkansas on May 15 ruled that dismissal of a consumer's lawsuit against a debt collector is not proper because although the consumer posted messages on a website "in an odious manner," valid First Amendment concerns exist (Brandon Scroggin v. Credit Bureau of Jonesboro Inc., No. 12-0128, E.D. Ark.; 2013 U.S. Dist. Lexis 69070).

Bruno the JDB Killer

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Re: Declaring BK during or after Arbitration with JAMS?
« Reply #12 on: November 19, 2015 06:56:16 PM »
I think she was chiming in on somebody else's thread, then started her own. Still not a good idea to try BK for that amount.
I am not an attorney. Any information I post is strictly my opinion and should be treated as such.

vg

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Re: Declaring BK during or after Arbitration with JAMS?
« Reply #13 on: November 19, 2015 09:46:22 PM »
She asked a couple of simple questions and everybody wants to send her for shock treatments. I see no panic in her post. The debt is $7300. Not a good candidate for BK. Maybe she has other debt, she didn't say.

I do have other debt - total of around $16-20k

vg

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Re: Declaring BK during or after Arbitration with JAMS?
« Reply #14 on: November 19, 2015 09:54:08 PM »

I'm not panicking - I'm just trying to understand my options if this goes south ?! Sorry to all ... I'm not a lawyer . Just had a hard year already ( lost my home) and don't want to make any stupid moves that cost me even more . Thanks to all for the advice I'm new to this and trying to figure it out.