I just received an Arbitration notice in the mail from a new CA this one being Columbia Credit Services. I also received a notice from them the same day saying that the collection was just turned over to them. They certianly didnt waste any time heading to arbitration with the NAF. I immediatly sent the Whynot refusal for arbitration letter the NAF and CA along with a Validation letter to the CA. This debt is accruing 24% interest and is up to 7000 with 5400 being the amout on my credit report. Now for the good news. I recently found out that they didnt have a liscense in my state to even collect a debt as well as found out that in Illinois the max interest you can charge is 9% with a contract and 5% without. This was also upheld in court in my county and i have the case info to back it. My question is where do i proceed from here with this info? Do I blow all my ammo now to get them off my back or do I hold on to the info in case they take me to court to get a judgement? Also, where do i get the info if they are bonded? Anyway thanks in advance.
Just a little update and advice needed please. I sent my Response to arbitration which was the whynot letter of refusal to arbitrate. I sent it CMRRR and also sent a copy to the CA. I just received a response from NAF that goes like this: Dear Respondant: The NAF is in receipt of the documents you filed in the above referenced case. However, because these documents did not include proof of service that they were served on all parties involved in this action as a required by rule 6 of the forum code of procedure they are deemed defiecient as a response in rule 13 of the code. Should you desire to have your documents filed with the Forum as a formal response pursuant to rule 13, you must file proof of service with the forum no later then Fifteen days from the date of this letter. After that time, the case will be appointed to an Arbitrator, a hearing will be held ad an award order issued. So my question is what do i do from here i have read varying opinions on this and want to see what you all think. Should I just ignore it and in doing so understanding no matter what happens i will lose arbitration. This would in theory help me in court when they go for a judgement. Should I send the CMRRR and copy of letter to the NAF to prove that i did serve them with this notice as well? Would love any impute on this. Thanks in advance.
you should send your proof of service, otherwise they will ignore your rejection letter and you don't want that. you will probably lose at the naf anyway but you have to play by their rules and be on record as rejection their arb fiasco.
