Author Topic: Declaring BK during or after Arbitration with JAMS?  (Read 2901 times)

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coltfan1972

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Re: Declaring BK during or after Arbitration with JAMS?
« Reply #15 on: November 19, 2015 10:29:39 PM »
I'm not a lawyer.

Neither are most on us.  If we were we would be advising you that you need to immediately file BK. 

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).

howucantoo

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Re: Declaring BK during or after Arbitration with JAMS?
« Reply #16 on: November 19, 2015 10:46:05 PM »
Why didn't you BK before foreclosure?

$16 -20K is nothing. Some here had/have debts ranging in 7 figures all by themselves .

Do you see the ticker up there ? some of us haven't yet add to it   ;)

You have lots of options, number one is arbitration with DC , I never had that card but it seems like some of the banks are really really reconsidering small debts in arbitration. DC seems to lead the pack ! Next is AMEX (small claim).
Fear is the worst thing if you are in process of litigation or arbitration. Relax, read, study and be empowered.





I am not an attorney, just  type" A" personality.
If you need legal help, you should seek legal counsel.
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shellawella

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Re: Declaring BK during or after Arbitration with JAMS?
« Reply #17 on: November 19, 2015 11:52:27 PM »
BK likely won't need to come into play. Let it be your obsolute last research if all other options fail.

Why file BK before arb when arb just might force them to settle for mutual walk away. Fight for a bit & try before giving up.

Discover will likely cave. I cant discuss how I know this  :vbrofl:
My comments are NOT legal advice!
shellawella

coltfan1972

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Re: Declaring BK during or after Arbitration with JAMS?
« Reply #18 on: November 20, 2015 02:34:30 AM »
BK is the true nuke option and should only be used as such.

When your house in on the auction block and it is a split second from the sale, you pull the BK card.  When your vehicle is being hooked up to the repo truck as the bank is throwing you out on the lawn, you hit the BK card.   

BK attorneys and others that have a profit motive at stake flood the airways with the promise that BK will make your phone stop ringing and the letter stop coming.   

This is 100% true, but about a dozen state and federal consumer laws will do the same thing for the cost of a certified letter.

And, then if they violate the law, it's not the BK estate that has a claim to the damages, but YOU!!
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 #19 on: November 20, 2015 01:21:00 PM »
You are better off to fight them and press for a walkaway or a deal you can live with. You don't want them forgiving 20K in debt and have it wind up as taxable income unless you have enough deductions to zero it out.
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 #20 on: January 26, 2016 03:21:44 AM »
Does anyone know if there is a cap on the amount the consumer can be fined to pay in arbitration? Is the a Cap in arbitration fines in Nevada?? Just trying to see how crazy this can get.. with an initial debt they are trying to collect of $7300 , I find it difficult to believe they are already in for about $7k in retainers and fees if not more.

howucantoo

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Re: Declaring BK during or after Arbitration with JAMS?
« Reply #21 on: January 26, 2016 04:05:44 AM »
Does anyone know if there is a cap on the amount the consumer can be fined to pay in arbitration? Is the a Cap in arbitration fines in Nevada?? Just trying to see how crazy this can get.. with an initial debt they are trying to collect of $7300 , I find it difficult to believe they are already in for about $7k in retainers and fees if not more.

You are scared ! That's no way to go into arbitration. Your opponent wants you scared out of your skin so to intimidate you more. How dare you compel arbitration on us. we're big boys we do that to you !

You pay $250 Max.

I've been to numerous arbitrations and not once fees or costs had been awarded to either party.
I am not an attorney, just  type" A" personality.
If you need legal help, you should seek legal counsel.
My PM is turned off.

fisthardcheese

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Re: Declaring BK during or after Arbitration with JAMS?
« Reply #22 on: January 26, 2016 11:59:51 AM »
Does anyone know if there is a cap on the amount the consumer can be fined to pay in arbitration? Is the a Cap in arbitration fines in Nevada?? Just trying to see how crazy this can get.. with an initial debt they are trying to collect of $7300 , I find it difficult to believe they are already in for about $7k in retainers and fees if not more.

If you have not yet read the JAMS rules on their website, I would suggest you do that.  I would read them several times until I know most of them (or at least the basics by memory).  Do not forget that the Consumer Supplemental Rules also apply to your case, as you are a consumer.

When you read them, you will see that a consumer will never pay more than $250 in JAMS fees.  Period.  But more importantly, by knowing the rules well, you will be able to quickly spot when the bank or the arbitrator is not following those rules and you can object.  Object and request hearings for anything that doesn't fit the rules.  Those hearings will cost the bank another $5k or so each.  A few of those and they will be more likely to talk about dropping the whole thing.  That would be my goal if I were in JAMS with DC.
11 Arb Settlements (9 AAA, 2 JAMS)
3 JDB Suits Dismissed With Prejudice (2 pro-se, 1 consumer atty)
3 TCPA Settlements (2 pro-se, 1 consumer atty)
2 FCRA Settlements (consumer atty)
1 FDCPA Settlement (w consumer atty)
1 Small Claims Win (pro-se; Landlord/state consumer law violations)
1 State UDAP Settlement (ITS)
1 Federal PTC Settlement (before hearing; pro-se)

vg

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Re: Declaring BK during or after Arbitration with JAMS?
« Reply #23 on: January 27, 2016 12:30:05 AM »
ok thank you I will read and re-read the rules .. I guess my question was if I am found at fault at the end of this and the original debt was $7300 .. would I be responsible for  their lawyer fees/ JAMS fees if I lose ? Or just the original debt of $7300?  Thanks all!!

fisthardcheese

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Re: Declaring BK during or after Arbitration with JAMS?
« Reply #24 on: January 27, 2016 10:35:41 AM »
ok thank you I will read and re-read the rules .. I guess my question was if I am found at fault at the end of this and the original debt was $7300 .. would I be responsible for  their lawyer fees/ JAMS fees if I lose ? Or just the original debt of $7300?  Thanks all!!

From reading all the cases here and reading the JAMS quarterly reports, I have never seen the arbitrator force a consumer to pay any part of the other side's costs or fees.  I can't say NEVER ... but basically never.  :)
11 Arb Settlements (9 AAA, 2 JAMS)
3 JDB Suits Dismissed With Prejudice (2 pro-se, 1 consumer atty)
3 TCPA Settlements (2 pro-se, 1 consumer atty)
2 FCRA Settlements (consumer atty)
1 FDCPA Settlement (w consumer atty)
1 Small Claims Win (pro-se; Landlord/state consumer law violations)
1 State UDAP Settlement (ITS)
1 Federal PTC Settlement (before hearing; pro-se)

wombat_ma

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Re: Declaring BK during or after Arbitration with JAMS?
« Reply #25 on: March 08, 2016 06:30:00 PM »
One has to look at JAMS Consumer Rules and at the Arb clause in your loan contract as well. The JAMS Consumer Rules state that a consumer's JAMS Arb costs are capped at $250. As far the other side's attorney's fees in arb, the CC Agreement I am dealing with in my lawsuit clearly say that in arbitration, each side pays their own legal fees and expenses.

So if a consumer wants to be represented by an attorney in JAMS Arb proceedings, (s)he will have to pay for that. But not the other's side attorney's fees. And if an arbitrator will attempt to award those, in circumvention of the contract clause, that is certainly a ground for an appeal and maybe of a lawsuit attempting to overturn this part of the arb award.

Some Arb Clauses might be different though.
I am not an attorney. My posts here are not legal advice.