HOW TO PRESERVE YOUR RIGHTS
What Consumers Can Do To Protect Themselves Against Binding Mandatory Arbitration Agreements
- Shop around before you borrow or arrange credit.
- BMA-Free Credit Cards: Many credit cards issued by national banks have BMA clauses. Choose one that does not, and if you already have a credit card that requires BMA, consider closing it and transferring your outstanding balance to a card that does not have one:
- AARP credit cards do not have these clauses.
- Most credit union credit cards do not have these clauses.
- Some small bank credit cards do not have these clauses.
When you close your account, send a short letter explaining that your tax dollars support a civil justice system and that mandatory binding arbitration is unnecessary. See http://www.givemebackmyrights.com/docs/CloseAccount.doc
- Vehicle Purchases:
- Read the Ten Tips for Car Buyers at http://www.callbeforeyoubuy.com/bma-10tips.htm
- Call the dealership before you buy to find one that does not require BMA. Be willing to walk away from a dealer who insists on BMA in the loan or sales contract.
- Home Mortgages:
- Do not deal with home lenders who require BMA clauses!
- One tip: Freddie Mac and Fannie Mae do not allow BMA clauses. Many credit unions also do not permit them.
- Other Creditors and Service Providers:
- Use our downloadable “bill stuffer” to try to repudiate an existing BMA at
2) Speak Up and Take Action!
Write your member of Congress:
- Today, write your congressperson and senator personal letters opposing BMA in consumer, employment, and franchisee contracts. A personal letter is a powerful statement.
- Ask them to help sponsor legislation to protect you from these abusive clauses. Check our Web site for developments at: www.givemebackmyrights.com.