Equifax Breach Update: Settlement Reached

Equifax Breach Update: Settlement Reached on 2017 Equifax Breach

Here is the latest Equifax breach update. If your personal information was included along with 147 million other people caught up in the September 2017 Equifax breach, the company recently agreed to a global settlement with the Federal Trade Commission, the Consumer Financial Protection Bureau, and 50 U.S. states and territories.

Equifax Breach Update on Settlement

The latest Equifax breach update talks about the settlement for the 2017 data breach.  According to reports, the credit-reporting company has agreed to pay between $575 million and $700 million to settle state and federal investigations related to the breach. Just announced a few days ago, the settlement is considered to be the largest of its kind and has preliminary court approval. To get the details, go to www.equifaxbreachsettlement.com and confirm you are eligible to file by filling in your last name as well as the last six digits of your Social Security number on the site. You may also call the Settlement Administrator at 1-833-759-2982.

Equifax is required to refund $125 or more for a data breach. Use this link to get your Equifax refund. Get your refund!

According to the FTC’s web site and as reported by USA Today, there are two ways to file a claim — online and in person. If you prefer snail mail, download and print the claim form, fill it out and mail it with any supporting documentation. The deadline to file a claim is Jan. 22, 2020, which is only about 6 months away, so don’t snooze. If you want to be excluded from the settlement, you need to send a written request postmarked no later than Nov. 19.

Benefits from the Equifax Breach Settlement

What will you get out of this? Depending on how you were affected by the breach, you could be eligible for several types of compensation, including up to 10 years of free credit monitoring of your three credit reports at Experian, TransUnion, and Equifax by an independent third-party service that will be determined by the court. Or, you can receive $125 if you already have a credit monitoring service and won’t enroll in the free one.

What about all that trouble you went to dealing with an ID theft issue that occurred because of the hack? If your personal data was exposed by the breach, you can get compensated up to $20,000 per person and be reimbursed for losses, including unauthorized charges on your accounts, the cost of freezing or unfreezing your credit report, fees for credit monitoring, legal and accounting fees out of pocket, and other details like notary fees, document shipping fees and postage, mileage and phone charges. You may be asked to show proof of “fraud, identity theft, or other alleged misuses of your personal information fairly traceable to the data breach,” the settlement website notes.

Source: FTC, Yahoo!News, USAToday, TBWS

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