We read an interesting post by a well respected consumer and bankruptcy lawyer Jay Fleischman where he argues that he can help his bankruptcy clients by avoiding arbitration of claims with creditors after bankruptcy. Here’s the gist of what he does:
I typically put a clause in my Chapter 13 plans that specifically rejects the arbitration provisions contained in any consumer credit agreements.
We are not sure if this will work but bankruptcy lawyers should consider trying this – no downside and lots of upside for the clients.
Read the full post here in Jay’s blog.
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