You can see if you're included by visiting the Equifax Data Breach Settlement website. But the compensation you apply for may not be what you end up with. Watch for qualifiers like "up to," and know the limitations of the settlement.
Where can I find out more about the Equifax settlement?
Learn more at the FTC’s official site for information: ftc.gov/Equifax. Remember that you don’t have to pay for credit monitoring as part of this settlement, and nobody will call, text, or email out of the blue to ask you for your credit card or bank account numbers, or to “help” you get your free credit monitoring.
Did you get an email about free credit monitoring through Equifax?
Lots of people recently got an email or letter about free credit monitoring through the Equifax settlement. That’s because the settlement with Equifax was just approved by a court. So now, if you signed up for credit monitoring as part of that settlement, you can take a few steps to switch it on. The email or letter tells you how.
What is the Equifax data breach settlement?
In September of 2017, Equifax announced it experienced a data breach, which impacted the personal information of approximately 147 million people. A federal court approved a class action Settlement that resolves lawsuits brought by consumers after the data breach. Equifax denied any wrongdoing and no judgment or finding of wrongdoing was made.
Is there a class action lawsuit against Equifax?
A federal court is considering a proposed class action settlement submitted on July 22, 2019, that, if approved by the Court, would resolve lawsuits brought by consumers after the data breach. Equifax denies any wrongdoing, and no judgment or finding of wrongdoing has been made.
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How much will I get from Equifax settlement?
If you asked for money If you requested compensation of up to $125 or reimbursement for time spent recovering from fraud or ID theft, a check or debit card will be mailed to the address you used when submitting your claim. Be prepared for compensation that is much less than you requested.
How do I find out if I was part of the Equifax data breach?
Equifax has created a website where you can find out if you have been affected by the breach. The website will ask you for the last six digits of your social security number and your last name, and then will tell you if you have been affected. You can also call 1-833-759-2982.
Did anyone get money from Equifax?
Court Approves Equifax Breach Settlement: Money for Some, Free Credit Monitoring for All. Equifax will pay up to $425 million in restitution to those directly impacted by the massive data breach of the credit bureau in 2017. A federal court gave final approval to the class-action lawsuit settlement in mid-January.
Is there an Equifax settlement?
In the wake of Equifax's 2017 data breach, which compromised the personal information of roughly 147 million consumers — including names, birthdates and Social Security numbers — the company ended up as the target of multiple lawsuits and reached a settlement in 2019 with the FTC, the Consumer Financial Protection ...
How do I know if my data is breached?
Check to see if you've been affected. Visit the company website and watch your email for additional information on the breach. Oftentimes, the affected company will send emails to consumers that are impacted.
Is my Equifax the same as Equifax?
Highlights: With a free myEquifax account, you can receive free Equifax credit reports, place a security freeze, fraud alert or submit a dispute. A myEquifax account is FREE, and for anyone to easily view and monitor their Equifax credit report and needs credit report assistance.
How many Equifax accounts were hacked?
147.9 millionIn September 2017, credit reporting giant Equifax came clean: It had been hacked, and the sensitive personal information of 143 million US citizens had been compromised—a number the company later revised up to 147.9 million. Names, birth dates, Social Security numbers, all gone in an unprecedented heist.
Where is my free credit monitoring from Equifax?
Free Credit Reports. You may already know that there are multiple ways you can get a free credit report. You can get free Equifax credit reports at annualcreditreport.com. You can also receive free Equifax credit reports with a myEquifax account.
When is the deadline to file a claim against Equifax?
The deadline to file a claim for Out-of-Pocket Losses or Time Spent that occurred through January 22, 2020 has passed.
What happens if you are impacted by Equifax?
If you were impacted by the Equifax data breach, you may seek reimbursement for valid Out of Pocket losses or Time Spent (excluding losses of money and time associated with freezing or unfreezing credit reports or purchasing credit monitoring or identity theft protection) incurred during the Extended Claims Period if you have not received reimbursement for the claimed loss through other means.
When is the deadline for Equifax?
If you are a class member, the deadline to file Initial Claims Period claim (s) for free credit monitoring or up to $125 cash payment and other cash reimbursement passed on January 22, 2020.
When is the deadline for credit monitoring in 2024?
January 22, 20 24 (For future losses and time) File a claim for Credit Monitoring Services or Alternative Reimbursement Compensation. The deadline to submit a claim to receive the Free Credit Monitoring Services offered under the Settlement, or Alternative Reimbursement Compensation has passed.
When is the extended claim period for credit monitoring?
You may seek reimbursement for valid Out-of-Pocket Losses or Time Spent (excluding losses of money and time associated with freezing or unfreezing credit reports or purchasing credit monitoring or identity theft protection) incurred during the Extended Claims Period (between January 23, 2020 and January 22, 2024) if you have not received reimbursement for the claimed loss through other means.
Is the Equifax settlement final?
By order of the Court, the Settlement cannot become final until the appeals of the remaining objectors are resolved. In September of 2017, Equifax announced it experienced a data breach, which impacted the personal information of approximately 147 million people.
When is the extended claim period for out of pocket loss?
To be eligible, your claim for Out-of-Pocket Losses or Time Spent must occur between January 23, 2020 and January 22, 20 24(the “Extended Claims Period”).
How long does it take to get a free credit report from Equifax?
You can get six free credit reports from Equifax in a 12-month period, for seven years beginning January 2020. These are in addition to the free reports you’re already entitled to under the law.
When did Equifax breach?
In September 2017 , Equifax announced a breach that exposed the personal data of approximately 147 million people. If your data was impacted, under a legal settlement, you may claim free services and payments.
Can you request reimbursement for Equifax?
You can request reimbursement if you spent money, for example: For certain Equifax products before the breach. To freeze or unfreeze your credit. For credit monitoring services. Dealing with fraud or identity theft after the breach.
If you signed up for the Equifax Breach Settlement, activate your benefit online
Jim Probasco has 30+ years of experience writing for online, print, radio, and television media, including PBS. His expertise includes government programs and policy, retirement planning, insurance, family finance, home ownership and loans. He has a bachelor's from Ohio University and Master's from Wright State University in music education.
Who's a Settlement Class Member?
A settlement class member of the Equifax breach is any one of the 147 million people impacted by the breach—i.e., who had their information stolen. If you are unsure of your status, the settlement administrator has a tool to check your status as a class member on the Equifax Data Breach Settlement website.
Who's an Eligible Claimant?
If you submitted a claim and opted for free Credit Monitoring Services during the Initial Claims Period, which ended Jan. 22, 2020, you are eligible for free credit monitoring for four years, as well as other benefits and coverage that will be explained to you when you sign up for your membership.
How to Sign Up for Free Credit Monitoring
By Feb. 25, 2022, all valid claimants will receive a letter or email from the settlement administrator that will include an activation code. 7 You will be instructed to go to the Experian IdentityWorks website and enter your activation code by June 27, 2022 to begin your free four-year membership. 2
How to Avoid a Scam
For every legitimate offer of free services, there are likely hundreds of scams. The Equifax settlement will be no different. Keep the following things in mind when evaluating any communications you receive: 3
Extended Claims Period
Although the deadline for settlement class members to file an Initial Claims Period claim passed on Jan. 22, 2020, class members may submit reimbursement claims for Out of Pocket Expenses and/or Time Spent for the Extended Claims Period (Jan. 23, 2020 through Jan. 22, 2024. 7
Free Identity Restoration Services
If you are a settlement class member, you are entitled to at least 7 years of free assisted identity restoration services beginning Jan. 11, 2022, to help you remedy the effects of identity theft and fraud. 7
For Those Affected by the Equifax Security Breach
Consumers affected by the Equifax Security Breach are eligible for at least 10 years of free credit monitoring service, plus at least 7 years of identity restoration, also for free, if you are a victim of identity theft. If you choose to use a different credit monitoring service, you could be reimbursed up to $125 for that cost.
What You Need to Do to Access Benefit from the Equifax Settlement
A series of deadlines have been set up for filing claims or opting out of the Equifax Settlement. The first deadline actually is for those who wish to opt out of the settlement, which leaves you free to pursue your own lawsuit against the company should you so choose. The opt-out deadline is Nov. 19, 2019.
Equifax Settlement: Bottom Line
We want to see everyone remaining financially safe and sound, so we encourage you to check to see if you have been affected by the Equifax security breach and if you are entitle to an Equifax settlement. Those affected should be prepared to file their claims for monetary damages by the Jan.
