The Equifax $280 payment is an estimated equal share of a $100 million settlement fund. Each valid, on-time claim receives the same pro rata amount after court-approved fees, expenses, and administration costs come out.
Pro rata means equal division among approved claimants, not payment tied to individual harm. According to Money, the deal settles In re Equifax Fair Credit Reporting Act Litigation, No. 1:22-cv-3072, over inaccurate 2022 credit reporting in Money's settlement report.
Official resource:
- Read the official notice from Money — Use this primary source to verify the official announcement.
Table of Contents
- Who qualifies for a payment?
- How is each amount calculated?
- Why is the estimate $95 to $280?
- What must you file to claim?
- What deadlines affect the payout?
Who qualifies for a payment?
The case covers about 4 million U.S. consumers, according to Money.
It includes people for whom Equifax reported a credit score or attribute to a lender or other third party that differed because of the coding error. The qualifying reporting window is March 17 to April 8, 2022. Fast Company ties that window to the server coding problem called the OMS Issue, affecting mortgage, auto, card, and other applications.
How is each amount calculated?
Start with $100 million. Subtract court-approved attorneys' fees, expenses, and notice and administration costs to get the net fund, as Money describes.
Divide that net fund equally by the number of valid, timely claims. No claimant gets a larger tier for a larger alleged harm. One approved claim equals one equal share of the net fund.
Why is the estimate $95 to $280?
Plaintiffs estimate the formula yields roughly $95 to $280 per person at typical claim rates, Fast Company reports in Fast Company's eligibility report. The final amount rises when fewer valid claims are filed.
It falls when more valid claims are filed. That range is a forecast based on participation, not a payment schedule. The per-person figure cannot be fixed until administrators count the valid claims and the court approves deductions.
What must you file to claim?
Affected consumers must submit a valid online or postmarked claim by Dec. 28, 2026, the official settlement site states in the official settlement FAQ. The filing goes through the official administrator site.
It requires the Claim ID and PIN from the mailed or emailed notice. A late, incomplete, or unapproved filing does not share in the fund. Use only the administrator site named in the notice.
- Find the Claim ID and PIN from your mailed or emailed notice.
- File online through the official administrator site, or mail a valid claim postmarked by Dec. 28, 2026.
- Keep a copy of the confirmation or mailing receipt for your records.
What deadlines affect the payout?
Judge Leigh Martin May granted preliminary approval on Aug. 17, 2026, according to ConsumerAffairs. That step allowed notice and claims to move forward. The opt-out and objection deadline is Nov. 27, 2026.
The final approval hearing is scheduled for Jan. 22, 2027. Two other practical limits matter: Fast Company notes that $280 is an estimated ceiling rather than a guaranteed payment, Equifax denies liability under the Fair Credit Reporting Act, and this case is separate from the 2017-breach $575 million FTC, CFPB, and state settlement. Mark Dec. 28, 2026 for the claim and Nov. 27, 2026 if you plan to opt out or object.