Hello,
I am in debt with MBNA since 2003. The account was opened in 2003 from New York City, where I reside. My balance to date is $5,331.43, that I do not have. I received a letter that says: "As you are aware, your delinquent account was submitted for binding arbitration and an arbitrator has issued an award against you. This amount is due and owing. We are providing you with an opportunity to contact our office in order to resolve this matter. Please note that in the event this Arbitration Award remain unpaid, our client has requested that we evaluate your account for judicial enforcement under state law."
I do not understand this letter and what could happen to me if I do not pay immediately. Could they cease my assets? Would I go to jail for not paying?
Thank you!
I am in debt with MBNA since 2003. The account was opened in 2003 from New York City, where I reside. My balance to date is $5,331.43, that I do not have. I received a letter that says: "As you are aware, your delinquent account was submitted for binding arbitration and an arbitrator has issued an award against you. This amount is due and owing. We are providing you with an opportunity to contact our office in order to resolve this matter. Please note that in the event this Arbitration Award remain unpaid, our client has requested that we evaluate your account for judicial enforcement under state law."
I do not understand this letter and what could happen to me if I do not pay immediately. Could they cease my assets? Would I go to jail for not paying?
Thank you!