Repairing a Broken System

Repairing a Broken System

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Creditors and collectors seek to recover consumer debts through the use of litigation and arbitration. But, neither litigation nor arbitration currently provides adequate protection for consumers. The system for resolving disputes about consumer debts is broken. To fix the system, federal and state governments, the debt collection industry, and other stakeholders should make a variety of significant reforms in litigation and arbitration so that the system is both efficient and fair. Contents of this report: Introduction; Litigation and Arbitration Proceedings; Conclusion. Appendices: Debt Collection Roundtable (DCR) Panelists; Contributors to DCR; Agendas for DCR; DCR Public Comments; Sample State Debt Collection Checklists. Illustrations.... action plaintiffs in a suit over credit card arbitration clauses, Bank of America, Capital One Financial, J.P. Morgan Chase, and HSBC Holdings agree to a settlement, pending court approval, that would, inter alia, a€œrequire the companies to stopanbsp;...

Title:Repairing a Broken System
Author:Jon Leibowitz
Publisher:DIANE Publishing - 2010-11


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