In March and April of 2022, Equifax — one of the three credit bureaus whose numbers determine whether you get a mortgage, a car loan, or a new credit card — was reporting incorrect credit scores for approximately 4 million Americans.
Lower scores. Wrong ones. Sent to lenders while those people were in the middle of applying for things that mattered.
Some applications may have been denied. Some loans may have come with higher interest rates. Some financial decisions were made based on numbers that were wrong.
Equifax has now agreed to a $100 million settlement. Eligible class members could receive between $95 and $280. If you received a notice — by email or physical mail — you're in the settlement class and you need to file a claim by December 27, 2026.
What Equifax Actually Did
The lawsuit alleges that Equifax made a systematic error in its credit score calculations during a two-month window in early 2022 that resulted in scores being reported lower than they should have been. Not by a little — by amounts significant enough to affect lending decisions.
Credit scores work on a narrow band. The difference between a 719 and a 721 is the difference between being approved at a prime rate or being offered a subprime one. The difference between a 659 and a 661 can mean the difference between qualifying for a mortgage at all. A reporting error that pushes scores lower — even by a few points — can cost people real money in real financial decisions.
Equifax denies any wrongdoing. The $100 million settlement was agreed to avoid continued litigation.
Who Is In the Settlement Class
The settlement covers people who were subject to the incorrect credit score reporting during the March-April 2022 window and who were sent a notice — either by email or physical mail — identifying them as class members.
If you received a notice, you are already identified as eligible. You do not need to prove you were affected. You file a claim, and your payment is calculated based on the total number of valid claims submitted and the final settlement fund after fees and costs.
Payments range from $95 to $280 per person — the actual amount depends on claim volume. Fewer claims means higher individual payouts. More claims means the fund gets divided more ways.
If you did not receive a notice, you are likely not in the identified settlement class — but you can check your status at the official settlement website.
What to Do Before December 27
The claim deadline is December 27, 2026. A final fairness hearing is scheduled for January 2027, after which payments will be distributed.
To file: visit the official settlement website and complete the claim form online. Claims can also be submitted by mail. Eligible class members were notified directly, so if you received a notice and haven't filed, do it now.
If you believe you were affected but did not receive a notice, you can check eligibility on the settlement website or contact the settlement administrator. Class membership was determined from Equifax's own records of who was subject to the erroneous scoring.
The settlement does not prevent you from pursuing separate legal action if you believe you suffered specific financial harm as a direct result of the incorrect scores — for example, if you can document that a loan was denied or came with a higher rate during that period. Consult a consumer attorney if that applies to your situation.
Equifax's error affected 4 million people during two months in 2022. The settlement is their acknowledgment that something went wrong. The deadline to claim your share is December 27.
