Following in the footsteps of the National Arbitration Forum (NAF), the American Arbitration Association (AAA) said on Tuesday they would no longer handle consumer debt collection disputes.
The American Arbitration Association said it will stop participating in consumer-debt-collection disputes until new guidelines are established. Its decision came two days after the National Arbitration Forum said it would stop accepting new cases.
This is another huge win for consumer rights. More than 94% of arbitration cases are won by the credit card companies. Consumers are at a big disadvantage in credit card collection arbitration.
Consumers are slowly regaining their legal rights and the credit card companies are being put in their place.
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