Posted 3:02 AM by Creditwrench

MBNA takes a 'case' to NAF, pays their fees, gets award (which includes reimbursement of fees). MBNA then gets an attorney to go to a judge to enforce a judgement about the money owed. Then money is paid to MBNA.

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I need to give that a little thought. Since the money would not be paid to NAF, I don't see how they ought to be a defendant. . .

MBNA takes a 'case' to NAF, pays their fees, gets award (which includes reimbursement of fees). MBNA then gets an attorney to go to a judge to enforce a judgement about the money owed. Then money is paid to MBNA.

NAF's award is just a tool to get a judge to legally enforce MBNA's collection of money- through payment arrangement, garnishment, seizure of property . . . As I see it, NAF shouldn't be involved as a defendant since after they make the award, they've been paid and go away. The process continues with MBNA and the attorneys.

Reverse the process- A claim is filed to enforce an arbitration award. I will be named as the defendant. The plaintiff will be MBNA, represented by the attorney.

If I'm right, MBNA should be the sole defendant in my vacate award claim, listing the two collection firms as their representatives. NAF is completely out of the picture as a party at this point. The award's been made. . .


Does that make sense? (nothing is construed as legal advice. . . blah blah :)
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Tommy, if the accounts you are reporting to the CRA's are not legitimate, then the process is not legitimate. Conversely, if the lenders reported fake accounts to the CRA's reporting that you had defaulted on them, just so they could lower your FICO score and ultimately charge you more interest, would you call that legitimate?
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Most of us who have been around the internet message boards such as creditnet, art of credit, creditboards and many more have at least heard of the poster who calls himself "LIZARDKING" and whose real name is James Morrison.
I tangled with him and called him on the carpet a long time ago back on Creditnet because he had taken a copy of John Gliha's so called "million dollar validation letter" and plagerized it calling it his own after having modified it to include several more dumb questons, none of which the debt collectors are required to answer.

It seems that back on Sept 13th, 2004 Morrison sent a letter to Wolpoff & Abramson acting on behalf of MBNA claiming that he intended to file a lawsuit on them for FDCPA and FCRA violations. Morrison, AKA "Lizardking" who has inhabited many different boards is pretty famous for claiming that he has successfully threatened to sue several debt collectors and received substantial settlements from them for his efforts. He has also been kicked off of some message boards as I have been for taking exception to such antics.

The final result seems to be that as he has done so many times in the past, Morrison made some incorrect statements to the court and ended up getting sanctioned for over $1700 in attorney fees by the court.

That should be sufficient warning to all not to listen to some of these xperts no matter how popular they seem to be.

Lizardking isn't the only one having given out bad advice on message boards either.
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How would NAF be a defendant? Because I am asking the court to reject the NAF's authority to make an award?
As you know, I'm not an attorney so I could be wrong but it sure seems to me that NAF would be the main defendant if not the only one because of the fact that it is their arbitration forum that you are trying to get injunctive relief against.
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This has nothing to do with this forum. It is off topic here. It should be in the chit chat forum.

Is what you are talking about illegal? Yes, it is if you want to get down to brass tacks. It is illegal because it is illegal to provide false information to a credit bureau.

That is all I will say here. If you want to continue the conversation please take it to the chit-chat forum.
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I'm not going to say you are either right or wrong.

But who is the principal actor doing the action that you complain of which is arbitration?

Is MBNA doing the actual arbitrating? No, NAF is going to do the act of arbiting.

Is the lawyer doing the actual arbitrating? No, Naf is going to do the act of arbiting.

Whose actions do we demand relief from? MBNA? the lawyer? NAF?

NAF of course because they are going to do the arbitrating.

That's my thinking. Now pick it to pieces.
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If you had family members in the lending industry would it be possible for them to add fake accounts to your credit report for the sole purpose of raising the score?
If a 50 Grand tradeline was reported as paid on time for 5 years and paid off, then that would most certainly allow someone the lowest interest rates available. If the person truly wants a better advantage with lower APR's, no down payments, and high credit limits, but uses the credit discretly and pays back every penny on time without defrauding the creditor, how can it be illegal or harmful unless the person were to apply for a big loan and run with the money. If you use this to legitimately save money and pay back the loan, your only bettering your life.

I doubt the saved money from the reduced interest will hurt the lender any. If the lenders only purpose is to charge people as high of interest as possible, then that should be considered capitalism. By adding fake accounts your only preventing the creditors from taking more of your hard earned money. Why settle for a 10% or higher car loan because your credit history isn't long enough, when you could have friends or family add fake accounts and ring in 4% easy. Same for credit cards. Why pay 14.9 when you can pay 1.9?

I fail to see where this is illegal, because you are not defaulting on the loan, running with the property, or depriving the lender of it's rightful payments.
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How would NAF be a defendant? Because I am asking the court to reject the NAF's authority to make an award?
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