Friday, July 27. 2007

Schiano v MBNA, Wolpoff & Abramson, and the National Arbitration Forum

In this fascinating case, we get a rare published look at the potential iceberg of fraudulent Wrongful Arbitration.

The Schiano's have filed a case before the United States Supreme Court, over issues relating to a PAID AND SETTLED ARBITRATION BASED AWARD. In their filing, the Schiano's note that the payment of $30,000 was not received by MBNA, the dlinquent account remains on their credit report, and their credit remains ruined.

$30,000. Who got the money if MBNA didn't?

The story (read it here) also contains specific elements of the process of converting the National Arbitration Forums award to MBNA, into LIQUID funds that were then collected during a refinance, with a mortgage brokerage recommended by the law firm collectors.

Is this a pattern of behavior? Do you have similar circumstances? Let us know now.

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Steve

in Beware Wrongful Arbitration at 18:42 | Comments (0) | Trackbacks (0)

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