What is mediation and arbitration?

Answer Mediation and arbitration are alternative dispute resolution techniques where parties agree to have their controversy resolved in an out-of-court forum by a neutral third party.ArbitrationIn arbitr... Read More »

Top Q&A For: What is mediation and arbitration

What is debt arbitration?

With so much fine print written into a credit contract, debtors and creditors can find themselves at odds over whether or not, or when, certain debts are owed. They might use debt arbitration to so... Read More »

What is an arbitration clause in an agreement?

An arbitration clause is a provision by which the parties to an agreement waive their right to sue in a court of law, deciding, instead, to submit any disagreement to binding arbitration. The arbit... Read More »

What does binding arbitration mean?

Binding arbitration is the process in which a neutral third party or panel of third party individuals determines the outcome of a dispute in an informal hearing. The term “binding” means the p... Read More »

What Happens When a Credit Card Collector Goes to an Arbitration Board?

When you default on your credit card debt, the credit card company charges off the debt and sells your balance to a collection agency after 180 days. Because collectors buy debts for far less than ... Read More »