Arbitration award

I have received an arbitration award document that says I am supposed to attend a hearing for in a week. It is regarding a credit card debt I owe. I have been working with a debt negotation firm and have been quite successful, but this this company will not negotiate and my debt negotiation company has told me that they have done all they can at this point. This debt is only in my name. It is a a large amount. I am self employed part-time. I live in MN which my understanding is not a community property state. Can anyone tell me what is going to happen at this hearing? Should I get a lawyer to take with me? Can they freeze my bank account? Any insight would be appreciated. I did try to call a lawyer to ask these questions but she does not seem to want to call me back. Not sure if I need to set up an appointment or try to find someone else.

Thanks in advance!

I have never heard of a credit card company being allowed to "freeze" or attach someones bank account--unless, perhaps they won an award of some type, or a judgment against you. Even then--I have never heard it done. If you have money to hire an attorney, I would do so. Obviously, it is always better to be prepared---but the question arises, if you cannot pay your credit card, how can you hire an attorney?

Many attorneys offer free or low cost consultations---I would look for one that does so and consult with them. They would be more versed in the laws of your state---and also laws governing credit card collections, etc. I am honestly surprised to hear of a credit card company that isn't willing to work with debt counseling centers ( non profit ). The credit card is unsecured, I assume? No collateral? Perhaps you could GOOGLE the name of the credit card company and research its collections practices online and read from other people what their experiences have been.

Good luck.

Yes this is unsecured debt. To be honest, I think it is more of the law firm handling the arbitration for the credit card company that is not willing to negotiate. The credit card is through a well-known, very large bank. Obviously if I do not have the money to pay the debt, I do not have the money to get a lawyer and do not qualify for legal aid. Although I have called a couple law offices to try to get some advice with no luck. I live in a small town so my choices are limited. Thanks for your response.

The document you received--it isn't a subpoena is it? In other words, you do not have to appear, and if you do appear and feel uncomfortable, you are free to get up and walk out at any time.

Perhaps go speak with them---or better yet LISTEN to them. Don't feel pressured to sign anything or feel bullied. If you are asking to sign something, decline, take time to think, take documents with you and don't feel imtimidated. I also would not go alone. Take a friend, or family member with you who can offer you support, balance, and direction.

Good luck. It may not be as bad as you think---they may be willing to work with you outside of the debt agency in resolving this debt.

No, it is not a subpeona. It says:

You will please take notice, that at a Special Term of the above-named Court, to be held XXXX, or soon thereafter as counsel can be heard, before XXXX, Plantiff will bring the following moiton requesting the Court confirm the arbitration award and enter judgement against XXXX.

Plantiff, above-named, respectfully moves the Court for its Order confirming the arbitration award dated XXX, and entering judgment in accordance iwth this arbitration award against XXXX and for such other and further relief as may be just and equitable.

I am going to try a lawyer again today so we will see. In reading this again, I wonder if I need to call the courthouse and see if this is still the day and time as it says "or soon thereafter."

Thanks for your words of advise on not feeling pressured into signing anything. I cannot tell you how much I appreciate it.

I would surely go--especially if they are asking the judge to enter a judgment against you. Your failure to appear gives you no chance to negotiate or work out a settlement--the judge will simply rule in their favor for the full amount, plus court costs. This would be a good time to ask the judge to instruct them to cooperate with your debt repayment company---perhaps some encouragement from the judge would make them see that SOME Money is better than NO money. Perhaps they are under the impression that you have assets that are hidden they can put a lien on? I cannot think of any other reason they wouldn't be willing to work with you.


Even if the judge enters a judgment against you, you cannot get blood from a turnip. I won a judgment against tenants some ten years ago and have never seen a penny----they should repay me, but for me to actually collect would cost me more than they owe. Don't be intimidated into signing anything--and you don't owe them anything--aside from money. Period. Explanations, justifications, excuses. None of those.

I finally talked to a lawyer today. He was quite suprised they would not deal and says they must think they can get money out of me (not sure what on earth would have made them think that as was already said, you can't get blood from a turnip). He also said since I am self-employed, once judgement has been issued and they start trying to collect, they can put a lien on the house and/or they can issue a general levy (I think that is what he called it) where they can collect from my bank accounts. Now I live in a noncommunity property state so if they try to take money out of a joint account, my spouse would show that it is his money and not mine (not sure if they can take first and ask later or what). My questions now are can they touch my kids' accounts since my name is also on them? Also we have an account in another state, which IS a community property state, so even if it is my spouse's money can they just take it? Anyone know how any of this works? If the hearing is on Monday, should I have my accounts cleaned out before then? Thanks again for your help.