Eligible for a payout? Some Equifax customers could get up to $280 in $100 million settlement

(Gray News) - Equifax has agreed to a proposed $100 million settlement over allegedly incorrect credit scores.

A class action lawsuit alleges the credit bureau reported lower scores for about 4 million people in March and April of 2022, potentially affecting applications for mortgages, car loans and credit cards.

Equifax denies any wrongdoing but did agree to the proposed settlement.

According to the settlement’s website, those eligible to be part of the settlement were sent either an email or physical notice. Those who did receive a notice can file their claim or opt out of the settlement online. Claims can also be mailed to a PO Box.

Settlement class members have until Dec. 28 to file a claim and until Nov. 27 to opt out of the settlement.

Each person who files a claim could receive a payment from $95 to $280, depending on how many claims are submitted. The exact amount each person will receive will not be known until all claims are submitted and validated.

A final hearing on the settlement is scheduled for Jan. 22, 2027.