Third-Party Creditor Actions Arbitration
Jan. 24, 2022
Since legal costs rise and the level of verdicts seems to fall, Arbitration may be the better avenue to pursue a recovery. The higher damages levels causes a limitation may preclude Arbitration in many cases, if the determination may be less than thirty thousand dollars, Arbitration may be a better way to proceed. It helps to understand that this is a interim level of legal determination, which can still allow for an appeal to a higher court, which in Pennsylvania means that the appeal will take it back to the Court of Common Pleas in that county.
Certain type of legal cases seem to be prevalent in Arbitration: Landlord-Tenant matters as an appeal from a district magistrate, soft tissue personal injury cases, Lemon-law Cases, some real property disputes, and Collection of a Debt cases; which include collections for third party creditors. Remember that an Arbitration Board does NOT give a verdict. Only a judge can do that. Arbitration boards give an award; which are appealable to a higher court. In order to gain a verdict from an award there are extra septs that need to be taken.
The following is an overview in the form of a general outline, which applies to Third-Party Creditor Actions. A third party creditor is when some creditor has sold or otherwise transferred the rights under debt contracts to another collection company. In these situations, the paperwork of the third-party creditor tends to be deficient and the ability to give a true verification of the accuracy of the documentation generally falls short. However, the value of understanding the rules of Arbitration can be understood more clearly by reviewing the rules in this context can apply, in part, to considerations one needs to consider with regard to other actions; in particular to those that rely on documents as a significant part of the evidence to be presented.
The following outline can be helpful so that you can understand the complexities of a third-party collection case and may be helpful so that there is a working understanding of the Arbitration inner-workings.