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CIC BlogYou May Not Even Realize You Agreed to Mandatory Arbitration: What Every Consumer Needs to Know

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Let’s say you order a credit report from Equifax. You find a mistake on it. You dispute the mistake – an essential step in the credit repair process – but it’s not corrected. You know the information being reported by Equifax is wrong so you decide to take them to court. Only you can’t because you signed that right away when you agreed to the terms required to see your credit report through their website. If you have a dispute with them, you are limited by the mandatory arbitration clause that negates your right to a day in court (or the participation in a class action lawsuit). It’s not just credit bureaus that include mandatory arbitration clauses. It’s companies providing all sorts of financial products and services that you probably use. Here’s what you need to know about them.

The post You May Not Even Realize You Agreed to Mandatory Arbitration: What Every Consumer Needs to Know appeared first on Credit Info Center Blog.

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