If you participate in the settlement, you waive your right to file your own lawsuit against Equifax for harm caused by the breach. If you decide to exclude yourself from the settlement -- or opt-out -- you will lose any right to participate in the settlement, including any right to receive the benefits outlined above.
Full Answer
What is the settlement with Equifax?
The company has agreed to a global settlement with the Federal Trade Commission, the Consumer Financial Protection Bureau, and 50 U.S. states and territories. The settlement includes up to $425 million to help people affected by the data breach. The initial deadline to file a claim in the Equifax settlement was January 22, 2020.
How do I Check my Equifax breach settlement status?
For more details and to check your claim status, visit EquifaxBreachSettlement.com . If you were affected by the Equifax data breach, you can still claim financial reimbursement for costs you incurred, or time you spent dealing with fraud or identity theft, after January 22, 2022.
How much did you pay for the Equifax breach?
As a result, consumers who were affected by the breach had the option of signing up for either up to $125 or free credit monitoring at all three of the largest credit reporting firms: Equifax, Experian and TransUnion. (Consumers who sought cash payments should visit the settlement claims administrator’s website for updates, Equifax told CNBC.)
Should I release my legal claims against Equifax?
By releasing your legal claims, you are giving up the right to file, or to continue to pursue, separate legal claims against or seek further compensation from Equifax for any harm related to the Data Breach—whether or not you are currently aware of those claims.
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Has anyone received money from Equifax?
After a data breach in 2017 exposed personal data of more than 147 million consumers, including in some cases Social Security and driver's license numbers, credit bureau Equifax agreed to pay hundreds of millions in compensation to help affected consumers.
How much will each person get from Equifax settlement?
Under the settlement terms, Equifax agreed to set up a fund to provide free credit monitoring and identity theft protection to consumers, as well as provide cash payments to people affected by the breach—up to $20,000 per person.
Will I get $125 from Equifax?
Equifax denied any wrongdoing and no judgment or finding of wrongdoing was made. 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. The Settlement is now effective.
What is the status of the Equifax lawsuit?
In 2017, hackers broke into Equifax in a breach that exposed the financial information of 147 million Americans. A federal court in 2020 approved a $380 million settlement of class actions lawsuits, with no finding or judgment of wrongdoing made.
Where is my settlement money from Equifax?
Status of financial reimbursement For more details and to check your claim status, visit EquifaxBreachSettlement.com . If you were affected by the Equifax data breach, you can still claim financial reimbursement for costs you incurred, or time you spent dealing with fraud or identity theft, after January 22, 2022.
Should I cash a class action settlement check?
People have mixed feelings about class-action suits, and whether you cash class-action refund checks is up to you. Generally, if you get one, you probably paid a lot more in wrongful fees than you're getting back in the settlement. If you don't cash the check, the money may go back to the company.
How much is Equifax settlement?
The company has agreed to a global settlement with the Federal Trade Commission, the Consumer Financial Protection Bureau, and 50 U.S. states and territories. The settlement includes up to $425 million to help people affected by the data breach.
How do I check my Equifax claim?
You can also log into your myEquifax account and view your status by clicking the “check status of a dispute” button. If you are checking your status by mail or phone, please make sure you have the confirmation number that was provided to you when you submitted your dispute.
How long does a data breach claim take?
In reality, how long a data breach claim takes simply comes down to the circumstances of the case. Some cases could be resolved in a few months, whereas others may end up being pursued for several years.
Can I go to Equifax in person?
Equifax Phone number: While Equifax's official customer service phone number is 1-800-846-5279, I found the easiest path to reach a real human is to call this number: 1-866-640-2273. How to reach a real person: Press 4, then press 1.
How do I know if my Equifax breach is affected?
If you want to check whether your data was exposed, the FTC and official settlement site have an online tool you can use to check if you were part of the Equifax breach. You'll need to enter your last name and last six digits of your Social Security number to see if your data was part of the hack.
How much can you expect from a class action lawsuit?
A class action usually ends in a settlement as opposed to going to trial. Settlements in recent years have averaged $56.5 million.
How is money divided in a class action lawsuit?
Pro rata settlements divide money in a class action lawsuit by splitting the amount equally among the Class Members. The share each Class Member will receive can depend on either the total number of individuals in the Class or by the number of valid claims filed, depending on how the agreement is drafted.
What is a class action settlement notice?
The class action notice outlines the original plaintiff's claims against the defendant and the terms of the proposed settlement. California's federal courts have suggested language that attorneys should use when sending out these notices.
Is there a class action lawsuit against Desjardins?
Quebec court approves $200.9M settlement against Desjardins over data breach. The Superior Court of Quebec has approved a nearly $200.9-million settlement of a class-action lawsuit against Desjardins over a data breach — the largest to date in the Canadian financial services sector.
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.
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.
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.
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.
What does it mean to opt out of an Equifax settlement?
Opting out of the settlement means you don’t forfeit your rights against Equifax and can still file your own lawsuit against the company. Those who can prove that they took a hit above $125 can get $25 for every hour spent pulling their lives together in the wake of an Equifax-related identity theft.
When is the deadline to sue Equifax?
Your deadline to opt out is November 19, and your deadline to file a claim based on this settlement is January 22.
What if my identity was stolen?
Per the settlement, you’re eligible for seven years of “free identity restoration services,” according to the FTC. If you find out that your personal data has been misused, you can call the FTC’s settlement administrator to get help.
How long is the FTC free identity restoration?
Per the settlement, you’re eligible for seven years of “free identity restoration services,” according to the FTC. If you find out that your personal data has been misused, you can call the FTC’s settlement administrator to get help.
Was I affected?
The Equifax Data Breach Settlement website has a look-up tool where you can find out whether your data was compromised.