AboutDhandapani Saravanan Expertise Arbitration, Conciliation, Mediation, Civil Laws, Constitional Rights, Labour and Service, Rent Control Laws, Torts, Accidents Claims, Workmen Compensation, Consumer Disputes, Domain Name Disputes.
Experience I have experience of 15 years in the High Court of Judicature at Madras.
Organizations Chairman
Council for National and International Commercial Arbitration (CNICA)
CNICA Mediation Center
Publications Advantage of Institutional Arbitration, reported in Recent Arbitration Judgements (RAJ)
Book on Supreme of Court of India on Arbitration and Conciliation Act, 1996
Education/Credentials Bachelor Degree in Law
Trained Mediator in Work Place Conflicts (USA)
Trained Mediator by Tamilnadu Mediation and Conciliation Center
Awards and Honors Acting as Arbitrator in many disputes
Past/Present clients Oil and Natural Gas Corporation
Cairn Energy India Pvt. Ltd.,
SS Music, etc.,
Question Hello,
I live in Arizona and last week I received an arbitration award from a local law firm in regards to an MBNA credit card I had. The award is for $4,000. The original debt was $1000, $1500 is interest and the rest is other fees that have accrued.
I contact the attorney's office last week and offered a payment settlement of $1000 (the original debt), which they said wasn't a sufficient amount. I then offered monthly payments of $50-75, which they also said wasn't sufficient.
The guy I talked to said that I had until the end of April to pay the amount in full before more action will be taken.
I'm not sure what to do. I want to pay the debt, but I don't have the full amount...or the resources to borrow it. Can they take action to garnish my wages if I'm making an attempt to pay the debt?
Also, the debt was incurred before I was married. Can they put a lien on my husband's property if his name is NOT on the debt and my name is NOT on the property and the debt was incurred before our marriage?
Thank you in advance for your help.
Answer Dear Madam,
There are two options: either you can challenge the arbitration award or make your best efforts to settle the dispute:
You have right to challenge and vacate the arbitration award within 90 days from the date of receipt of the arbitration award provided there are sufficient reasons as provided under the US Arbitration Act. The challenge procedure may take some time to reach its finality. In case, the arbitration award is not vacated then you need to pay dues with further interest and other charges. Still you fail to pay the dues they may initiate garnishee proceedigns to attach your salary.
I understand, in US, litigating a dispute in the Courts of Law is highly expensive. Hence, my sincere opinion is instead of spending amount to Court, Attorneys, and time and undergoing mental agony, you can sit with the bank which has issued credit card and negotiate and arrive at amount for a compromise. Normally, the tendency of bankers is that they will waive considerably if the parties offer the sum as ONE TIME PAYMENT.
Regarding properties of your husband, no one has any right over the same for your personal debts.
My opinion on vacating the award is based on the Indian Laws. If you prefer to challange the award, kindly have a consultation with your local attorney and proceed.
I would appreciate to know the name of the person and email id while asking questions.
Please feel free to contact me for any further clarifications.
