Post by "Pop" Stran on Oct 7, 2007 23:37:47 GMT -5
CONSUMERS LOSE BIG IN MANDATORY ARBITRATION
Arbitration is supposed to be a cheaper and easier way to settle differences without going to court, but big companies are teaming up with private arbitration firms to stack the deck against consumers in order to collect on debts.
A new report by Public Citizen found that a particular arbitration company ruled against consumers in 95 percent of its cases, favoring the companies that drive millions of dollars in business their way, and forcing consumers to pay thousands of dollars to get access to records of their own proceedings.
Arbitration is supposed to be a cheaper and easier way to settle differences without going to court, but big companies are teaming up with private arbitration firms to stack the deck against consumers in order to collect on debts.
A new report by Public Citizen found that a particular arbitration company ruled against consumers in 95 percent of its cases, favoring the companies that drive millions of dollars in business their way, and forcing consumers to pay thousands of dollars to get access to records of their own proceedings.