J.P. Morgan Chase - Chase Bank US Unfair and Unlawful Arbitration Newark Delaware

If your credit card contains an arbitration clause you would be wise to opt out of it immediately. Arbitration strips you of your constitutionally given right to access the courts to settle any dispute.

Chase bank primarily uses the National Arbitration Forum. A for profit business that that is nothing more than a hired gun for the credit card industry. Chase alone sends the NAF several thousands of cases a year as do some of the other credit card companies. Of these cases about .02% are awarded to the consumer. this gives the creditor a more than a 99% win rate. Some of the arbitrators have a financial interest in or actually own the business that they are ruling on. How can this be anything but one sided and completely unfair.

In my case, I filed a dispute with Chase concerning my account. Chase responded by deciding my dispute was invalid. First mistake. Chase does NOT have the authority to determine validity, this is a matter for the courts to decide. As stated by the rules of the Fair debt collections practices Act, Chases obligation was to acknowledge the dispute within 30 days, investigate and conclude within 60 days. Within 30 days they sent me to collections and by 60 days they filed an arbitration claim against me.

My account was opened in 1998. Credit card companies did not start using the arbitration clause until late 1999. Therefore, my original agreement did Not contain any arbitration clause or any clause that would allow Chase to amend the agreement to include arbitration.

They persist in attempting to claim that my account does include this clause but have yet to prove otherwise.

This case is in the court now to determine arbitrability. I will be fighting Chase tooth and nail on this issue. Bottom line, I never agreed to knowingly and willingly give up my constitutionally given right to access the court to settle a dispute and Chase has yet to provide any solid evidence to the contrary.

Stand your ground! These multi billion dollar companies think they can bully us into submission and to pay outrageous fees. We as consumers need to stand together and show them we are mad as hell and that we are not going to take it anymore.

Timothy
Bowdoinham, Maine
U.S.A.