Credit Repair Attorney

One of the ways in which credit card disputes have been resolved in recent years is by binding arbitration.  This mode of dispute resolution has been touted as a fast and fair way to resolve problems without the time and expense required to take a matter to court.  However, according to the results of a report published recently by the Green Bay Press-Gazette, statistics show that an enormous advantage exists for credit card companies based on the results of these matters.“Public Citizen said credit card companies and debt-buying companies won 94.7 percent of the 19,000 California arbitration cases it studied.

“This is a system that is unfair to consumers, many of whom are struggling financially, and a huge gift to business,” Public Citizen President Joan Claybrook said at a news conference.

The report was challenged by the American Bankers Association, the U.S. Chamber of Commerce’s Institute for Legal Reform and the Minneapolis-based National Arbitration Forum. They said the group’s study conclusions are flawed.”

The reality of the situation is that when you face off with a credit card company in an adversarial setting, you are taking on a corporate giant.  If you would like to make sure your credit is as positive as it can be, contact the credit repair attorneys at Smith & Garg today to schedule an initial consultation.