Equifax Class Action: Last Chance to Claim Part of the $2.2M Settlement

A $2.2 million class action settlement has been preliminarily approved in the case Bradberry v. Equifax Information Services LLC, filed in the US District Court for the Northern District of Georgia. The lawsuit, brought by plaintiff Charmayne Bradberry, alleges that Equifax violated the Fair Credit Reporting Act by wrongfully reporting duplicates of negative accounts on consumer credit reports due to inadequate recordkeeping practices. These duplicated debt tradelines allegedly made some customers' debts appear larger than they actually were, potentially harming their credit scores and limiting their ability to secure loans, credit cards, and mortgages.

Equifax has identified 37,651 customers who received reports containing duplicate debt information between August and September 2022. These individuals qualify as settlement class members, provided they are living individuals in the US or its territories. To receive a share of the settlement funds, eligible class members must file a claim by the Sept. 1 deadline, either online through the settlement website using their unique member ID or via a paper claim form. Failure to file by the deadline forfeits the right to a payout but does not remove individuals from the settlement class; opting out or objecting also requires action by Sept. 1.

Although Equifax has denied any wrongdoing and the court has not ruled in either party's favor, the settlement was mutually agreed upon and has received preliminary approval. A final approval hearing is scheduled for Oct. 6. Payouts are capped at $600 per claimant, though the actual amount will depend on how many class members file claims and the court's allocation for attorney and administrative fees. Regardless of whether they file a claim, all class members will receive six months of Equifax Complete credit monitoring services, including credit reports, score monitoring, and up to $500,000 in identity theft insurance. Payments will be distributed after the final approval hearing, assuming no appeals are filed.

(Source：CNET)