National Arbitration Forum / MBNA Threatening arbitration for MBNA MinneapolisMinneapolis Minnesota

I recently received papers from a law firm in Ca. that my credit card balance from MBNA had been turned over to them for collection & that the National Arbitration Forum wants to have an arbitration hearing. I have written to both the law firm & the NAF (sent certified, return receipt) telling them there is no need for arbitration & that I want to negotiate a settlement with MBNA. There is no way I can pay all of the money at one time. Do I HAVE to go thru this law firm & the NAF or can I negotiate with MBNA? From what I read, these arbitration companies & the law firms who use them are big rip-offs & don't actually arbitrate, just take your money. Are they issuing idle threats? What can they actually do legally? What are my options? By the way, the NAF signed that they received my letter but the law firm has not. Since then I have sent 2nd letters, also certified & return receipt, but have yet to get a response. According to them, I only have 30 days before other action will be taken.

Carol
Mobile, Alabama
U.S.A.