As a lender, dealing with delinquent borrowers is never pleasant. It doesn’t matter how big your fintech organization is; not getting paid on time will always hurt your cash flow. And the longer you wait, the faster your company coffers go thin.
Even worse, you may have no collateral to seize. If you issue unsecured loans, you’ll have much fewer desirable options to compel the defaulting parties to pay.
But before you sue your nonpaying borrowers or sell your delinquent accounts to collection agencies, take them to arbitration first. Let Brief resolve your disputes to avoid bigger headaches and larger losses.
Brief has an extensive network of professional arbitrators across the 50 states. Each vetted to ensure absolute impartiality and fairness in every resolution.
We assign arbitrators to claims based on jurisdiction and domain expertise. After gathering and reviewing sufficient evidence from the plaintiff and the defendant, they would apply relevant state laws to issue an award.
If you win, you can leverage the favorable decision to convince the other party to pay. If the two of you fail to reach an agreement, you can get the award converted into an enforceable court judgment.
Set your claim in motion by uploading all of your supporting evidence. Upon receipt, we wi’ll serve/notice the defendant via email and certified mail.
The defaulting party can join the platform after receiving service. The defendant can provide counter-evidence to disprove your claim or settle it right away. If the defaulting party declines to take part in the process, the online arbitration will still proceed through a default prove-up process so that you can prove up your claim and have the Ejudge issue you an award..
We’ll assign the most appropriate e-judge to study your dispute using jurisdiction and expertise as guidance..
The e-judge will check all pieces of evidence on hand. If necessary, our arbitrator may reach out for additional questions and inquiries.
After careful review of the dispute, our e-judge will issue a legally binding award.
Here’s what you must do:
Talk to one of our arbitration specialists to learn more about the merits of adopting our free arbitration clause into your contracts. We’ll be happy to answer all of your questions to your satisfaction.