Debt Elimination Questions

[Bigben2350]

What is the name of your state? Washington

I paid $ 8,000 to a company to profoem debt elimination on several credit card that were deliquent.
They started the process and I was actually awarded 8 arbitration awards through a bona fide arbitrator from another state.
The company has since ceased operation and left me hanging in the wind. I have another 12 arbitrations pending.
I do not know what to do with my existing awards or how to continue with teh ones I have pending.
Help!!!!!!

 

[Ladynred]

Use your awards for T.P. - that's about ALL they're good for. They will NOT be adhered to and it will NOT erase your debts ! You got scammed, big time.

 

[warrior1]

What is the name of your state? Washington

I paid $ 8,000 to a company to profoem debt elimination on several credit card that were deliquent.
They started the process and I was actually awarded 8 arbitration awards through a bona fide arbitrator from another state.
The company has since ceased operation and left me hanging in the wind. I have another 12 arbitrations pending.
I do not know what to do with my existing awards or how to continue with teh ones I have pending.
Help!!!!!!

I paid $3999 for the similar service for 12 CC. Got 12 Arbs in my favor (another 2400 cost). They all turned out to be useless. Now there are 9 lawsuites. Have negotiated 6 of them, 3 still pending with appx. 52k debt. My advise, begin negotiating before any judgement or go for bankruptcy.

 

[Ladynred]

The thing about arbitration is that BOTH PARTIES must agree to it or it cannot be binding. When this company went out for these arbitrations, I'd be willing to bet that the companies did NOT agree to it. Along with the Federal law, there are state laws that govern arbitration, you can't just go out and get arbitration awards and expect to be able to collect on them. You were scammed.. and you're going to pay an even heavier prices if you don't do something else.

 

[caliber]

don't sit on the awards, if bonafide.

I paid $ 8,000 to a company to profoem debt elimination on several credit card that were deliquent.
They started the process and I was actually awarded 8 arbitration awards through a bona fide arbitrator from another state.
The company has since ceased operation and left me hanging in the wind. I have another 12 arbitrations pending.
I do not know what to do with my existing awards or how to continue with teh ones I have pending.
Help!!!!!!

How did you obtain consent(if at all) on the arbitrations from the cc companies? That's the key. If they agreed to your arbitration venue then you could try and get those awards confirmed in your jurisdiction. I wouldn't sit on them.

 

[caliber]

Consent?

You did not come this far and go through arbitration without first gaining consent from opposing party, right? Was ther some sort of settlement agreement you tendered that bound them to consent to your arbitration venue/tribunal. Look and see!