Will New Equifax Product Force Consumers Into Arbitration Again?

Dec 19,2017

Equifax has announced that it will roll out a new Credit Locks for Life product in January, but will customers who use it be subject to a forced arbitration clause? When asked, the company’s interim CEO did not guarantee that consumers would not be giving up their right to sue if they used the product. The credit lock program is similar to a credit freeze, but it is not subject to state regulation.

Public Justice executive director F. Paul Bland stated that customers who purchase the program could still be subject to arbitration, as Equifax has not removed the arbitration clauses on their website. He says that the broadly worded arbitration clause could apply to the credit lock program. Moreover, in cases where the terms might be conflicting, the assigned arbitrator often decides if the situation falls in their jurisdiction. Obviously this one-sidedness can be problematic for consumers.

What Should Consumers Do?

Because Credit Locks for Life has not been released yet, it is hard to say what consumers should do. When the program does roll out, consumers should thoroughly review the terms of the product before signing up. If the terms seem unfavorable to consumers, a normal credit freeze could be a better alternative.

“Equifax has already put a bad taste in the mouth of conscious consumers. Let’s hope they do not force them to agree to arbitration in order to use their new product,” said Attorney Walter Clark, founder of Walter Clark Legal Group.

Our firm has been handling personal injury cases throughout the California Low Desert and High Desert communities for over 30 years. With a 95% success rate, the personal injury attorneys at Walter Clark Legal Group will fight to hold those responsible for your loss accountable and win compensation to cover medical bills, lost wages, and pain and suffering. If you have been injured and want to discuss your legal options, contact us today for a free consultation with an experienced personal injury lawyer. We have offices in Indio, Rancho Mirage, Victorville, and Yucca Valley and represent clients through the entire California Low Desert and High Desert communities.

DISCLAIMER: The Walter Clark Legal Group blog is intended for general information purposes only and is not intended as legal or medical advice. References to laws are based on general legal practices and vary by location. Information reported comes from secondary news sources. We do handle these types of cases, but whether or not the individuals and/or loved ones involved in these accidents choose to be represented by a law firm is a personal choice we respect. Should you find any of the information incorrect, we welcome you to contact us with corrections.