Pre-arbitration services are defined as services that take place with the intent to negotiate an agreeable resolution prior to the formal filing of an arbitration case with the respective arbitration provider.
When you retain Boe Credit Consulting to assist you in resolving your dispute through arbitration, we will communicate your dispute with the appropriate party and your desire to seek arbitration as a means of resolution if we are unable to resolve the dispute.
The vast majority of our cases are resolved without the need for arbitration. Our typical pre-arbitration resolutions include:
Removal of any adversely reporting accounts from your credit reports, and
Elimination of any alleged outstanding debt, and
Agreement to forego issuance of 1099-C, and
Monetary damages paid to you, and
Any other requests as appropriate to the circumstances
*Your results may vary, depending on the totality of your unique circumstances.
Post-arbitration services are those services that include formally filing your case with the respective arbitration firm and the related services that follow.
In the event we are unable to negotiate an acceptable resolution on your behalf, we will advocate for you throughout the arbitration process, including:
Ongoing settlement negotiation efforts prior to the arbitration hearing, and
Preparing and filing your claim with the appropriate arbitration organization, and
Participate in the arbitrator selection process, and
Prepare for and participate in prehearing conferences, and
Prepare for and participate in the discovery process, and
Prepare and submit appropriate motions and requests, as appropriate, and
Prepare for and participate in the hearing process to include presentation of opening and closing statements, submission of evidence, and direct and cross examinations, all as appropriate, and
Prepare and file any additional documents necessary to present your case
Should it be necessary to reduce your award to a legal judgement by a court of competent jurisdiction, we will assist and participate with you or your attorney throughout that process.
Boe Credit Consulting will start pre-arbitration services with an administration fee of $125, depending on the number and complexities of the accounts we are working on for you.
After the administration fee is paid, arbitration services are provided on a contingent basis. This means:
If we are successful in negotiating a resolution on your behalf that includes monetary relief, prior to filing a case in arbitration, our fee will be 25% of the monetary relief secured on your behalf.
In the event we are unable to negotiate a resolution that includes monetary relief, prior to filing a case in arbitration, you owe us nothing more, except as provided under Post-Arbitration Fees*.
Should it be necessary to file your case with the respective arbitration firm, our fee will be 40% of the monetary relief secured on your behalf, by way of settlement, award, or otherwise*.
Actual out-of-pocket costs for nominal expenses such as phone calls, outgoing fax, delivery charges, postage charges, photocopying, online database retrieval, and other related expenses will be covered by BCC. However, larger expense items such as filing fees, expert witness fees, or deposition fees will be forwarded on to you with the request that you pay the service providers directly.
FREQUENTLY ASKED QUESTIONS
WHAT IS ARBITRATION?
Arbitration is an out-of-court, private dispute resolution process. Arbitration takes place in front of a neutral decision-maker, called an arbitrator, who will listen to each side and make a decision about the case. At the end of the arbitration hearing, the arbitrator renders a decision, or award, and that award is final and binding.
WHY ARBITRATION INSTEAD OF COURT?
Most often, arbitration is the agreed to process for resolving disputes between you and the other party. You probably didn't realize when you signed an agreement or contract with the other party that the contract had an arbitration clause. An arbitration clause stipulates that if either party has a dispute with the other, you both agree to resolve the dispute through arbitration versus through a lawsuit settled in court.
You shouldn't be nervous about arbitration though. While the process is similar to a court proceeding, the rules are a little more relaxed than you would find if you were proceeding through the court system. Although the process may be a little more relaxed, because both parties agreed to have the dispute settled through arbitration, the decision at the end of the process is no less binding than a judge's ruling at the end of a trial in court. In fact, after the arbitration hearing, the prevailing party can go to a court of appropriate jurisdiction to have the arbitrator's award confirmed. Once confirmed, the award will be entered as a judgement.
IS ARBITRATION BETTER THAN COURT?
There are advantages for you in arbitration that you would not have if the case was filed as a lawsuit and heard in court. The biggest advantage is your costs are limited. In general, most arbitration clauses stipulate that you will only be responsible for the cost for filing the case with the arbitrator and the company with whom you have the dispute is responsible for all other costs associated with the case.
The fact that the company is responsible for paying for all other costs is your second advantage. The costs for arbitration can be quite high; in most cases the cost to defend an arbitration case will be greater than the monetary relief we seek for our clients. When this is the case, it's a no brainer; companies weigh the cost of arbitration plus their attorney fees, and find that settling the case prior to arbitration would be to their benefit, financially-speaking.
A third advantage to arbitration is you have more control over the process. Both parties to the arbitration will be given a list of available arbitrators; each party can exclude arbitrators they do not want to decide the case. You are also allowed to choose the date and, in some cases, the location of the arbitration.
DO I NEED AN ATTORNEY FOR ARBITRATION?
The short answer is no, and this is another advantage to arbitration - you do not have the high cost of attorney fees. Because arbitration is not taking place in a court setting, you are not required to be represented by an attorney. You may represent yourself, or you can appoint any other competent person to act as your advocate in the arbitration process. In our case, unless you choose otherwise, we will act as your advocate in arbitration.