Equifax, one of the three credit reporting agencies lenders use to calculate borrowers' credit scores, has agreed to a $2.2 million settlement to address claims it listed duplicates of negative items on tens of thousands of credit reports.
A complaint from 2022 alleges Equifax "negligently and recklessly" included false and damaging information on reports, a violation of the Fair Credit Reporting Act (FCRA). According to the suit, the mistake artificially lowered affected consumers' credit scores — including plaintiff Charmayne Bradberry, who claimed she was denied a mortgage because her score dropped "severely."
Equifax settlement at a glance
- Settlement amount: $2.2 million
- Claim deadline: Sept. 1, 2026
- Estimated cash payment: Up to $600
- Credit monitoring: Six months
- Final approval: Oct. 6, 2026
The FCRA requires credit reporting companies to follow reasonable procedures to ensure accuracy.
Bradberry is one of more than 37,000 consumers Equifax has identified as having reports with duplicate negative items. The agency denied any wrongdoing but agreed to the settlement to avoid the prospect of prolonged litigation.
Eligible claimants may receive as much as $600 in compensation, but the last chance to submit a valid claim is Tuesday, Sept. 1, 2026.
Here's what you need to know about Equifax's $2.2 million settlement, including who is eligible, how to file a claim and what to do if you see incorrect items on your credit reports.
Monitor your credit reports with identity theft protection
Equifax has identified approximately 37,651 individuals who had duplicate items on their reports. Eligible claimants should have received a settlement notification via email or postcard between August and September 2022. You'll need the unique settlement member ID number from that notice when you file.
If you're not sure whether you are a class member, you can go to the settlement website to find out.
You can also contact the settlement administrator at:
Bradberry v. Equifax
c/o Settlement Administrator
1650 Arch St, Suite 2210
Philadelphia, PA 19103
Individual payouts have been capped at $600, but the amount claimants receive will depend on how many valid claims are filed and how much of the settlement is set aside for attorney and administrative fees.
Settlement class members will also receive six months of Equifax Complete credit monitoring services, which includes access to credit reports, credit score monitoring and up to $500,000 in identity theft insurance.
To receive payment, you must submit a valid claim by Sept. 1, 2026. You can file a claim online through the settlement website or file a paper claim and mail it to the settlement administrator.
You can choose to have your payout sent to a PayPal, Venmo or Zelle account, or sent via a paper check or virtual prepaid debit card.
The deadline to opt out or object to the settlement is also Sept. 1.
A final fairness hearing is scheduled for Oct. 6, 2026. If there are no appeals, attorneys' fees and the lead plaintiffs will be paid first. The remaining funds will then be distributed among other class members who have submitted valid forms.
See if a credit repair company can help improve your credit score
Credit reporting agencies collect financial information about consumers that is shared with banks, insurance companies, landlords and other entities interested in reviewing creditworthiness.
Each agency keeps slightly different records, but the reports all include basic identifying details, like your name, date of birth, phone number, current and previous addresses, Social Security number and current and previous employers.
They also include details about your credit accounts, including the date they were opened, the credit limit or loan amount, the outstanding balance, monthly payments and payment patterns over the last several years.
Your reports also record bankruptcies and negative judgments, debt settlements and Debt Management Plans (DMPs), as well as any statements of dispute you may have sent.
Credit reporting agencies are prohibited from gathering data about race, religion, sexual orientation, medical history, political affiliation or any other information deemed unrelated to credit.
If you notice incorrect, negative items on any credit report, reach out to the appropriate agency right away. Even a simple mistake can lower your credit score noticeably. If it's a sign of identity theft, someone could be using your information to rack up thousands of dollars in charges.
Click on the link to report mistakes to Experian, TransUnion or Equifax. If you find a mistake with one agency, check whether it's present in the other two reports.
Frequent credit report errors
According to the CFPB, common mistakes include:
- Misspelled names, wrong or old addresses or incorrect birth dates
- Information from someone with a similar name or Social Security number
- Closed accounts reported as open
- Individual loans listed multiple times
- Accounts or loans listed as unpaid that have been successfully settled
- Debts that are incorrectly reported in collections
- Fraudulent accounts listed as a result of identity theft
- Incorrect current balances or credit limits
- Accounts that list you as the owner when you're just an authorized user
Credit agencies typically have 30 days to respond to a request to remove inaccurate information. If the agency removes the item, it's required to notify you and other two agencies.
If you don't see a correction within a few months (or if the error reappears later), you have several options.
1. Hire a credit repair company. Credit repair companies contact credit reporting agencies to remove inaccurate or outdated negative information on your behalf. You can chase after the bureaus on your own, but the process can be slow and confusing.
Most credit repair companies also work with banks, debt collectors and other creditors to remove incorrect information. They can't get legitimate items removed, but they can send "goodwill letters" pointing to a history of on-time payments or extenuating circumstances in hopes of late payments or other black marks being removed.
The service isn't free, however: The one-time setup fee can be as high as $200, and there are often subscription fees if you need ongoing assistance.
Offers in this section are from affiliate partners and selected based on a combination of engagement, product relevance, compensation, and consistent availability.
2. File a complaint with the CFPB. If a credit bureau isn't addressing your issue, you can notify the CFPB. It might not result in any action, but you can point to it if you have to escalate to legal action.
3. Notify the Federal Trade Commission. The FTC doesn't resolve individual credit reporting complaints, but it will enforce policies if there are enough complaints about a specific company.
The FTC and CFPB reached a $23 million settlement with credit agency TransUnion in 2023 after claims that inaccurate eviction notices were appearing on its credit reports and impacting background checks.
4. Pursue a lawsuit. According to the FCRA, you may have grounds for legal action if a credit bureau doesn't complete its investigation within 30 days, fails to remove inaccurate, incomplete, or unverifiable information, or reinstates removed information.
What is Equifax?
Along with TransUnion and Experian, Equifax is one of the "Big 3" credit bureaus that maintains information on consumers with active credit histories. These reports are used by lenders to calculate your credit score, but items included may vary to some degree, so your score may be different depending on which agency a lender uses.
Who is eligible for a payment from the Equifax credit reporting settlement?
Consumers are eligible for payment from the Equifax settlement if they received a notification email or postcard about duplicate collection accounts appearing on their credit report in August or September 2022. If you are not sure if you qualify, you can go to the settlement website.
What is included in a credit report?
Credit reports typically contain details about your financial history, including the date an account was opened, its credit limit or loan amount and the balance, monthly payment amount and payment pattern over the last several years. Any bankruptcies or negative judgments will also be noted, as will any statements of dispute you may have filed.
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