Question by so_adorable21: Midland credit management is threatening me with arbitration. What does this mean?
I am trying to get my credit good by working through my debts one bill at a time. One of my accounts got sent ot Midland Credit Management. I spoke with one of the representatives trying to set up a payment schedule. She would not work with me on a 12 month plan. She would only go for 5 months on a higher amount. She then grew upset and pushy and informed me that they would be taking me to arbitration. I then tried to call the company back just to get a mailing address to send them a letter request verification that I have a legal obligation to them.
Answer by Mary B
That means that instead of sitting before a judge, you will be sitting in a room with a licensed arbitrator that has the same authority as a judge, and WAY more expensive, as well as a representative from the company.
You have a right to have legal counsel present, because you can be your bottom dollar, they will.
This is what you do…start sending them money anyway along with a letter on a 12 month plan. They HAVE to accept it…if they don’t…keep all of the checks that they sent back to you.
Send everything by check, certified mail, return receipt required.
That is the best ammunition that you have…you don’t even have to talk to those people if they are going to be that unreasonable.
What do you think? Answer below!