Class-action lawsuit against Equifax and TransUnion: consumers could be affected
Class-action lawsuit against Equifax and TransUnion: consumers could be affected
A class-action lawsuit is currently targeting the credit reporting agencies Equifax and TransUnion, following allegations regarding inaccurate information appearing on the credit reports of certain Canadian consumers.
According to available information, errors may have occurred in credit files since May 5th, 2023, potentially leading in some cases to significant consequences, such as loan refusals, lowered credit scores, or difficulties obtaining financing.
Situations mentioned include: loans or credit cards that do not belong to the affected consumers, errors in personal information, or delays in correcting reported data.
However, the class-action has not yet been authorized by the courts. No compensation is confirmed at this time, although amounts up to $10,000 are being discussed depending on the damages incurred.
This situation serves as a reminder of the importance of regularly checking your credit report and monitoring for any discrepancies, in order to minimize potential impacts on your credit score and financing requests.
Consumers are also encouraged to review and secure their credit files with the agencies involved to reduce the risk of fraud or identity theft.
IMPORTANT: The class-action still needs to be authorized by the courts before any potential compensation can be awarded.
You could potentially receive up to $10,000 depending on the damages suffered.
Sign up for the class-action lawsuit.
It cannot be repeated enough: it is essential to lock your credit file with Equifax and TransUnion to better protect yourself against fraud and identity theft—and it’s free in Quebec!
When a credit file is locked, a fraudster cannot open a loan or line of credit in your name without you temporarily unlocking it.
