A class action lawsuit involving Equifax, Fair Isaac and MyFico has been filed alleging that the companies violated Credit Repair Organization Acts and similar state laws.
A federal court has been directed to notify anyone who may have entered into an agreement with Equifax or Fair Isaac between November 19, 1999 and February 8, 2007 to purchase one or more of the following "Offerings": Score Power®; Credit WatchTM; Score WatchTM; 3-in-1 Monitoring; Credit RankingsTM with Score Power®; Credit RankingsTM with 3-in-1 with Score Power®; Credit RankingsTM with Credit Report; Credit RankingsTM with 3-in-1; 3-in-1 with Score Power®; Score Power® by mail; Credit WatchTM by mail; FICO® Score (with Equifax, TransUnion or Experian reports); FICO® Deluxe; Suze Orman FICO® Kit; CreditSync; and Credit Advantage.If so, you may be eligible to receive a benefit under the proposed Settlement.
Under the lawsuit the settlement says that anyone who is eligible will recieve 3 free months each of Score Watch from Equifax and Fair Isaac for a total of 6 months.
Score Watch™ is offered for sale by both Equifax and Fair Isaac. It monitors a consumer's Equifax credit file and FICO® score, and provides up to two Equifax Score Power reports. The current retail value of Score Watch™ is approximately $7.95-8.95 per month.
To see if you are a Class Member and to obtain a full Notice of the proposed Settlement, the required procedures, the Effective Date, the deadlines, your obligations, and your options, you must visit www.hillisslacksettlement.com.