Wednesday, December 23, 2009

10 Ways to Screw Over the Corporate Jackals

Just a satisfying end of the year list of possible resolutions:

10 Ways to Screw Over the Corporate Jackals Who've Been Screwing You.



Anonymous said...

I got another suggestion: If you have a consumer credit card in default...."I exercise the arbitration clause!"

National Arbitration Forum (NAF) was taken out by MN AG this past summer for screwing 200,000 consumers a year through a disgusting system of private justice, robbing you of your rights. Check out Public Citzen on this.

NAF is forbidden from taking anymore credit card cases.

As a result, AAA (American Arbitration Forum) has voluntarily backed out of accepting credit card arbitration, fearing same fate as NAF.

JAMS, the last forum listed in these contracts "doesn't do debt collection" arbitration according to Jay Welsh, chief legal counsel of JAMS, in front of FTC roundtable on 9/29/09 in San Franciso. No credit card arbitrations.

Arbitration can be exercised by either party and can force other party from court. In WI, case law says that unavailability of arbitration forum in contract does not negate arbitration clause.

What happens? Credit card has to beg you for agreement on alternate forum.

Translation: You can screw monstermegabank.

This will be short lived...Bank of America, Chase, and Cap 1 will be taking arbitration out because they can no longer screw you with it!

Mpeterson said...

Here's the relevant link to Public Citizen mentioned in the above posting.

Rick said...

I haven't had cable in years, and I've never watched so many awesome shows, cartoons, etc. I was happy to hear that this solution made the list. Who wants to watch commercials? Because I don't already know what toothpaste I want to buy or what conditioner works for my hair? Or how to relieve the human position that we're so neatly placed in. Between the mind-numbing reality shows and blaring commercials, I can't find room to miss cable.

Anonymous said...

I really find the infomation very informative, except for the personal responsibility of defaulting on purpose. Those Corp Jakals were nice enough to lend you the money for the house you could not by all means stick it to them. And if you drop cable, you will also miss Madow and the blowhard Olberman.

Mpeterson said...

There were some intentional defaults for sure, but you'll need to see if the ratio of predatory lender to predatory borrower surprises you.

OTOH, that's why we have bankruptcy courts... something else that isn't much discussed.