Those impacted by the 2017 Equifax data breach can now claim a portion of the company’s $425 million compensation settlement.
Equifax will pay up to $700 million total to settle with the Federal Trade Commission and others over the breach that exposed Social Security numbers and other private information of nearly 150 million people. The company will pay $425 million of that in compensation to consumers.
According to the Federal Trade Commission those affected are entitled to up to 10 years of free monitoring of their credit reports or $125. There is also a calculated cash payment of up to $20,000. The money comes from expenses paid during the breach like:
- Losses from unauthorized charges to your accounts
- The cost of freezing or unfreezing your credit report
- The cost of credit monitoring
- Fees you paid to professionals like an accountant or attorney
- Other expenses like notary fees, document shipping fees and postage, mileage, and phone charges
A claim can also be made for time spent dealing with the breach. Up to 20 hours can be compensated at $25 per hour.
Cash payments can be given though a check or debit card and will be sent by mail after final approval from the court.
To find out if you can file a claim, all you have to do is go to this website, set up by the settlement administrator, and enter your last name and the last six digits of your Social Security number. The site will then tell you if your personal information was affected by the breach and whether or not you can file a claim.
To do so, you can and upload any supporting documents online at https://www.equifaxbreachsettlement.com/.
You can also mail your claim if you download and print a designated form, which can be filled out and sent with any supporting documents to:
Equifax Data Breach Settlement Administrator
c/o JND Legal Administration
P.O. Box 91318
Seattle, WA 98111-9418
Any claims on behalf of anyone who was a minor on May 13, 2017, must use this form and be sent via conventional mail.
The deadline to file claims is Jan. 22, 2020.