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In 2002 my MBNA credit card was over the limit and I couldn't afford to pay the payments. They finally turned my account over to a collection agency which I fought because I felt I had no contract with them. Arbitration was used with NAF and of course they completely ignored all the items I sent them along with my objection to using NAF. Naf ruled against me in January 2003. By May 2003 the Attorney had sent a petition to award the $56,985.92 to them. I filed a Motion to Dismiss, a stay of proceedings and a Vacate arbitration Award on May 7, 2003. I have heard nothing since then but 2 days ago I received a summons to show cause. All of these are in MBNA's name but the attorney is with a collection agency I think, not retained by MBNA. What can I do now?
Good morning Sharon,
This is a complex question to reply to without seeing all of the data. But let me make a few general observations on your situation.
First of all, it is now routine for Credit Card companies to require that all disputes be submitted for Arbitration or Mediation prior to the commencement to any type of lawsuit.
This is usually disclosed in those little brochures that you receive from the credit card company that you throw in the trash.
If NAF (The National Arbitration Panel) has ruled against you, AND you have filed the motion to dismiss and you have not heard the result, then call the panel office and have them get you a copy of your file.
Now your issue with having to deal with a collection agency is one that I address each and every day, as we collect for major credit card providers and the debt buyers who buy the paper.
If you read the entire cardholder agreement, you will notice that there is a provision that states that MBNA has the right to .....let me find it for you.... Ok Here is a copy of a post that I want you to read....
It is ironic how David Nelms, Chief Executive Officer, came to Discover Card in 2005 and all these predatory lending practices seem to be increasing and occuring since his assignment to Chief Executive Officer. David's prior employment was with MBNA. MBNA had several class action lawsuits brought against them for predatory lending and fraud during David's tenure and now Discover Card is engaging in these practices. Coincidence here? It sure seems to me that the top leadership has brought his MBNA business tactics to Discover Card and implemented them to exploit their cardholders and generate millions in income.
There was a case in California, as follows, that illustrates Discover Card's attempted use of the Arbitration Agreement, and the court upheld the agreement as unconscionable.
If you are a Discover Card account holder and have experienced more then one interest rate increase within the last year even though your credit has not changed and Discover Card has used predatory tactics with you and you would like to be a member and/or participate in a class action lawsuit, contact me via email.
A class action lawsuit is also being considered to challenge the creditcard industry's "BMA- Binding Mandatory Arbitration" clauses.Discover Card implemented the BMA back in 2001 and several other big creditcard companies followed suit. The Arbitration clause disallows class action lawsuits and court action by cardholders and further encourages Discover Card to use their power to commit fraud and engage in predatory lending and not be held accountable by the courts for their actions.
My recommendations are :
1) Get rid of your Discover Card account and do not do business with any creditcard company which uses "BMA". The companies that utilize arbitration are the ones who setout to exploit the consumer and don't want to be held accountable by the courts for their unconscionable and predatory actions. The following creditcard companies have and use binding mandatory arbitration - Bank of America, Discover Card, JPMorgan Chase, Washington Mutual, Chevy Chase, MBNA, Wells Fargo, Household Financial, Beneficial, Orchard Bank and Providian so steer away from them because they will exploit you and take your money. Only do business with creditcard companies who do not dictate terms and make you use arbitration or have binding mandatory arbitration. Credit Unions are your best defense against the credit card industry and arbitration clauses as most credit unions don't use arbitration because they are not out to steal people's money.
The best thing we all can do to the "creditcard loan sharks" is take our credit business to a credit union and get one of their Visa's. I checked out the credit unions in my area and the rates are 8%-15%, no Late fees until 10 days after the payment due date, 9.9% fixed APR on balance transfers until they are paid off and no over limit fees. Most of the credit union websites I checked out had fixed rate credit cards so you know what your rate will be and don't have to worry about them pulling the "interest rate increase tricks" and escalating your interest rate because you are now "a greater risk" or just changing the rate at their leisure to generate more income.
IF you do fall prey to Discover Card or any other credit card company and they change your terms and/or exploit you, notify the following and file a complaint or share your story:
1) ABC Television Network
2) NBC Television Network
3) Federal Deposit Insurance Corporation - FDIC (Regulatory and enforcement arm of the banking industry)
4) Office of Comptroller of the Currency
5) CBS Television Network
6) Fox News
7) Your State's Attorney General Office
8) Your state senator(s)
9) MSNBC Television
10)Cable News Network - CNN
11)Wall Street Journal
12)Securities and Exchange Commission
______
Ok, me again, That is one way to deal with them.
In conclusion Sharon, It is clear to me that you know what you are doing in this arena and I want you to churn the heck out of them. I want you to document every single event that has occured and to file a complaint on www.RipOffReport.com and include this reply from me. I will look at this further, but with classaction litigation in process and all of the problems that MBNA is in, the LAST thing they need is to have me on their back in the media.
Please leave feedback, and let me know how it goes.
To Your Success,
Robert Paisola
CEO
Western Capital Financial Services Inc.
www.mycollector.com
ABOUT YOUR AUTHOR:
Robert Paisola is driven by a passion for people--motivating them to reach for the highest standards of success. As founder and president of many International Corporations, Robert trains sales and marketing
professionals who want to strive to get to the top...and stay there.
His innovative, no-nonsense approach is based on applying what he has observed in his fifteen-plus years in säles, motivational speaking and training, thus revealing the common business habits of the top 20% of sales performers in all organizations.
Robert's approach works...that's why New York-based Success Magazine has rated Robert Paisola as one of the top-five most effective säles-training professional in the market today. Routinely Distinguished by The National
Speakers Forum, Robert is also a regular contributor to Business Week Magazine, CNN, CNNFN, XM Satellite Radio, The Wall Street Journal, Telemundo International, National Public Radio and many other organizations.
For more information on Robert Paisola's unique training programs, contact Robert at Western Capital at robert@mycollector.com or at 1-877-517-9555 or visit
http://www.allexperts.com/displayExpert.asp?Expert=38419 or visit www.RobertPaisola.com
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Robert Paisola
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I wanted to take a moment to talk to our clients and readers around the world.
We are facing a VERY SERIOUS and COMPLEX financial disaster in the United States taking place. I am being overwhelmed by victims of companies such as American Express, Nationwide Credit, Allied Interstate, Unifund, and our company Western Capital.
We have also been getting massive exposure from the international media because of the video that we posted on YOUTUBE where we show our live conversation with AMEX and Nationwide Credit. You can see this video at www.MyWesternCapital.com
The Bottom line is that if you have been abused, buy an MP3 Recorder and email us your outline of whats going on. If we accept you, you will be required to pay 500.00 via PayPal.com to robert@mycollector.com and we will do the same for you as you see in the video. I will only take 5 clients a week, because of my speaking schedule.
Again... If you have been scammed, I will personally assist you. If you are a business owner visit my special message for you at www.westerncapitalturnaround.com and send your specific details also to vip@westerncapitalturnaround.com
To your Success,
Robert Paisola
www.RobertPaisola.com
801-619-4700 or 1-877-517-9555
As the CEO of Western Capital MyCollector.com , based in Salt Lake City, Utah, Robert Paisola has been distinguished as a foremost expert in the field of debt collection, credit, creditors rights and collection agency administration. Having appeared on many national news and information programs, Mr. Paisola is the expert the media turns to when a creditor/ debtor issue becomes HOT! Check out the web site at www.mycollector.com for more information. If you have a special situation that you need personal assistance with, simply visit www.WesternCapitalVIP.com and you will be on your way to resolving your crisis!
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Over the past few years as I have been able to assist many of you in this and other varous forums, I have been asked over and over about the possibility of hiring me personally to resolve your specific issues.
If your situation is one of crisis - losing a home, serious collection stress, attorney involvement, tax issues, etc, a reduced rate can be provided for direct one-on-one help.
In matters where you have a lot to lose, it may be wise to call our offices at 1-877-517-9555 and ask for Lisa to see if she can set you up as a private client.
Due to my extensive travel schedule, I will not always be able to take all cases, but my goal is to assist as many people as possible.
Most of the time, we get results very quickly and we cut through all the red tape.
Are you the owner or manager of a credit and collections department? Visit www.mycollector.com and spend some time looking around.
You can now have Have Robert Paisola provide on-site training for your collectors and call center employees.
Just Call Western Capital at 1-877-517-9555 for more information or email Robert at trainings@mycollector.com
Finally, If you feel like your life is running in circles and you feel like you have lost all hope, check out Impact Trainings in Utah at www.impacttrainings.com and tell whomever you end up talking with that I personally sent you. I PERSONALLY recommend this program to all of my students, It may be the biggest challenge you ever face...YOU!
UPDATE 7-2006 We are noticing that many of the complaints that you have are against debt collection companies.( Listen to the calls at http://www.WesternCapitalTurnaround.com and you will clearly see that we may be able to assist you.
If you are looking for an attorney to merely churn papers, then I am not the solution. If you are mad as hell and want RESULTS email me now at robert.allexperts@mycollector.com and lets talk. You can also visit http://www.WesternCapitalVIP.com
WOW! I feel like I never get any sleep! YOU ARE MY CAUSE! I LOVE WHAT I DO! But, Sometimes CONFLICT is necessary to PROTECT YOU. JUST GO TO THE SITE AND BE PREPARED TO BE BLOWN AWAY!!!!!!
Also, please take the time to provide your feedback and understand that I WILL ALWAYS REPLY, and take that into consideration when you rate for answering your question QUICKLY!
I have logged in from seminars in India, Germany, Hong Kong, The United Kingdon, China, Japan and all over the world to assist YOU in a timely manner!
Please Visit www.RobertPaisola.com for all of the details!
We are taking this mission very seriously and have received over 2 Million Hits on our site at www.MyCollector.com in the past 90 days.
That shows that YOUR VOICE IS BEING HEARD!
Finally, let me say that I am honored that you are taking the time to read this. We have worked very hard to create CHANGE in the collection industry and we know that you have many choices on this incredible site to submit your questions to, and I am more than happy to assist you! Just Please provide the positive feedback when you receive a reply!
UPDATE- 4-2007 LISTEN TO A LIVE 3 STAGE CALL to ALLIED INTERSTATE AND INTELLIRISK- AS THEY VIOLATE FEDERAL LAW....WITH ROBERT PAISOLA! Robert Paisola wins $30,000 in FDCPA Damages in 45 Minutes! GO TO www.MyWesternCapital.com/news_allied.html NOW! This is a LIVE AUDIO FEED THAT WILL GIVE YOU AN IDEA HOW YOU HAVE TO DEAL WITH COLLECTORS WHO CROSS THE LINE. IF YOU HAVE HAD PROBLEMS LET US KNOW!
UPDATE OCTOBER 2006- NATIONWIDE CREDIT IS NAILED TO THE CROSS BY ROBERT PAISOLA FOR MULTIPLE FDCPA VIOLATIONS- CLASS ACTION LAWSUIT IN PROCESS- MILLIONS TO BE PAID! LISTEN TO THE LIVE CALL AT MYCOLLECTOR.COM
January 2007- Update- It is ESSENTIAL that you understand that ANY question that you ask is NOT being asked to AN ATTORNEY! That is the great benefit of being able to provide you, my readers, with straight forward answers. If you have ANY questions about this Disclaimer... then email us and we will provide you with a formal letter of Clarification from The State Bar Association.. So, If you are happy and understand this.... Ask Away! Also, because of the large volume of mail that I receive from around the world, it may take up to a week to get back to you, PLEASE UNDERSTAND THIS!!! I do seminars and travel all over the world, so Please be kind in your ratings of Timeliness! If you have an emergency, go to www.WesternCapitalVip.com Immediately!
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