Equifax Opens Claims for $100M Settlement Over Faulty Credit Scores
A coding error in 2022 miscalculated scores for roughly 4 million Americans. Eligible claimants have until Dec. 28 to file.
Equifax is now accepting claims from affected customers as part of a $100 million class-action settlement, the company confirmed. The lawsuit alleged that a three-week coding error in 2022 caused the credit bureau to miscalculate credit scores for approximately 4 million Americans — errors that may have resulted in denied loan applications or inflated interest rates for borrowers who had no idea their scores were wrong.
Customers who qualify for a payout should have already received a formal notice directing them to file. Claims can be submitted either online or by mail, and the deadline is December 28. Depending on individual circumstances, eligible claimants could receive payments estimated between $95 and $280.
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The settlement highlights how a brief technical failure inside one of the country's most influential credit reporting agencies can ripple outward with real financial consequences for millions of ordinary consumers — affecting borrowing power, housing applications, and loan terms without any fault of their own.
For those who believe they were affected but have not yet received a notice, reviewing any recent correspondence from Equifax and acting before the December 28 cutoff is critical to preserving eligibility for a payout.
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