If you used Equifax’s consumer credit reports service in 2022, you may be eligible to claim part of an upcoming $2.2 million settlement payout. The case centered on allegations that Equifax violated the Fair Credit Reporting Act, a federal statute that dictates credit reporting companies must “follow reasonable procedures to assure maximum possible accuracy of the information concerning the individual about whom the report relates.”

The class action lawsuit, Bradberry v. Equifax Information Services LLC, alleged that Equifax “wrongfully reported duplicates of negative accounts” on certain consumer reports, and that these duplicated debt tradelines are a result of the company having inadequate datakeeping policies and procedures. The lawsuit alleges that Equifax “negligently and recklessly disseminated false and damaging information” regarding the credit of certain customers.

Essentially, the lawsuit alleges that Equifax’s negligent reporting made some customers’ debts appear larger than they actually were, potentially creating situations where affected individuals couldn’t secure loans, credit cards, mortgages and other lines of credit.

The plaintiff, Charmayne Bradberry, filed the suit in the US District Court for the Northern District of Georgia. Bradberry said that she received a report showing the same $305 collection account twice, and that each instance showed separate “opened” and “reported” dates for the debt. She alleges that her credit score dropped severely following this report, which may have prevented her from securing a vital mortgage application.

Bradberry is one of 37,651 customers Equifax identified as having received reports with duplicate debt tradelines.

Equifax has denied any wrongdoing and denied that settlement class members were harmed by its actions, and the court has not ruled in favor of either side. The settlement was agreed upon by both parties, and the court has preliminarily approved the $2.2 million payment, subject to a final approval hearing.

The settlement website is live now. The hearing is scheduled to take place on Oct. 6, during which the court will confirm the settlement sum, allocate funds for attorneys’ fees and create a plan to distribute money to the affected class members.

While some class action lawsuits automatically pay out from the agreed-upon sum, that isn’t the case with Bradberry v. Equifax. Affected individuals need to file a claim and provide valid payment information by Sept. 1 to receive a share of the funds.

If you wish to opt out of or object to the settlement, you must do so by the same Sept. 1 deadline. Failure to do so will mean you remain part of the settlement class and forfeit your right to separately sue Equifax for this incident.

Who can be part of the Equifax settlement?

Not every Equifax customer is automatically eligible to claim part of the settlement. The money is reserved for people who received reports with duplicated collection account information that reflected larger sums of debt than existed in reality.

In order to join, you must meet the following qualifications:

1. Be a living individual in the US or its territories.
2. Received one of the identified Duplicate Reporting Letters from Equifax between August and September 2022.

The settlement class in this case is extremely well-defined. Equifax identified 37,651 people who received duplicated reports. These individuals are the qualifying settlement class members.

Affected class members need to file a paper claim or log in through the settlement website in order to receive a payout. In order to file a claim online, you need to use the unique settlement member ID number included within the initial communication sent to affected individuals. This communication was sent out via postcard and email.

How much will the Equifax settlement pay out?

The total payment for each claimant is capped at $600, but actual payouts will depend on how many settlement class members file claims and how much money the court sets aside for attorney and administrative fees.

Whether or not settlement class members file a claim, they will receive six months of Equifax Complete credit monitoring services, including credit reports, credit score monitoring and up to $500,000 insurance for identity theft-related expenses.

During the claims process, class members must select a valid payment method for their share of the settlement funds. According to the paper claim form, you can choose to have the money sent to a PayPal, Venmo or Zelle account, a virtual prepaid card or a check.

If you’re eligible to claim a piece of the settlement sum, you must file by Sept. 1. Payments will be distributed after the court’s final approval hearing, assuming there are no appeals.

Tyler is a writer for CNET covering laptops and video games. He’s previously covered mobile devices, home energy products and broadband. He came to CNET straight out of college, where he graduated from Seton Hall with a bachelor’s degree in journalism. When Tyler’s not asking questions or doing research for his next assignment, you can find him in his home state of New Jersey, kicking back with a bagel and watching an action flick or playing a new video game.

You can reach him at tgraham@cnet.com.

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