Just last week, the FTC and others reached a settlement with Equifax about its September 2017 data breach that exposed personal information of 147 million people. We’ve told you to go to ftc.gov/Equifax, where you can find out if your information was exposed and learn how to file a claim with the company in charge of the claims process.
The public response to the settlement has been overwhelming, and we’re delighted that millions of people have visited ftc.gov/Equifax and gone on to the settlement website’s claims form.
But there’s a downside to this unexpected number of claims. First, though, the good: all 147 million people can ask for and get free credit monitoring. There’s also the option for people who certify that they already have credit monitoring to claim up to $125 instead. But the pot of money that pays for that part of the settlement is $31 million. A large number of claims for cash instead of credit monitoring means only one thing: each person who takes the money option will wind up only getting a small amount of money. Nowhere near the $125 they could have gotten if there hadn’t been such an enormous number of claims filed.
So, if you haven’t submitted your claim yet, think about opting for the free credit monitoring instead. Frankly, the free credit monitoring is worth a lot more – the market value would be hundreds of dollars a year. And this monitoring service is probably stronger and more helpful than any you may have already, because it monitors your credit report at all three nationwide credit reporting agencies, and it comes with up to $1 million in identity theft insurance and individualized identity restoration services.
For those who have already submitted claims for this cash payment, look for an email from the settlement administrator. They’ll be asking you for the name of the credit monitoring service you already have. Or, if you want to change your mind, you’ll have a chance to switch to the free credit monitoring. The email from the settlement administrator will tell you what to do next, in either case. And the settlement administrator has said that the claims website will soon be updated with that information, too.
Please also note that there is still money available under the settlement to reimburse people for what they paid out of their pocket to recover from the breach. Say you had to pay for your own credit freezes after the breach, or you hired someone to help you deal with identity theft. The settlement has a larger pool of money for just those people. If you’re one of them, use your documents to submit your claim.
This blog post was clarified on August 1, 2019.
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In reply to I'm not sure how useful the by Callie
In reply to Exactly what I was thinking! by David
In reply to Exactly what I was thinking! by David
In reply to I'm not sure how useful the by Callie
FAQ #8 states that Settlement Class Members may submit a claim to enroll in at least four years of three-bureau credit monitoring services, provided by Experian, at no cost. Go to www.EquifaxBreachSettlement.com to learn more.
In reply to FAQ #8 states that Settlement by FTC Staff
In reply to Is the FTC aware that the by Concerned-C
In reply to Is the FTC aware that the by Concerned-C
In reply to I've checked the Experian by query-w
The deadline to file a claim for free credit monitoring related to the settlement was January 22, 2020.
You can still get free help recovering from identity theft and six free credit reports per year through 2026 by visiting the Equifax website. Read more about what you can get at www.FTC.gov/Equifax.
In reply to The deadline to file a claim by FTC Staff
In reply to FAQ #8 states that Settlement by FTC Staff
In reply to After properly completing and by bvoris
Answer #3 of the questions and answers on www.FTC.gov/Equifax explains that if you request free credit monitoring, you will get an activation code with instructions after the court approves the final approval. You can choose to receive this code by email or postal mail when you file your claim.
In reply to Answer #3 of the questions by FTC Staff
In reply to Is there an estimate as to by Laur
The deadline to file a claim is January 22, 2020. The settlement administrator will not send out any benefits until it is allowed to do so by the court, which will be on January 23, 2020, at the earliest. The FTC will update the information page www.FTC.gov/Equifax with new information.
In reply to The deadline to file a claim by FTC Staff
In reply to The deadline to file a claim by FTC Staff
In reply to Answer #3 of the questions by FTC Staff
In reply to So, sometime in years future, by Susie Q
In reply to Same here!!! I applied for by CJFried
In reply to Ditto. It is December 2019, by amberDon't use…
In reply to I too received notification by zippy t
The free credit monitoring that's available under the Equifax settlement did not start yet.
If you filed a claim for free credit monitoring under the settlement, the company that manages the settlement will send you information about how to activate your credit monitoring after the Settlement is effective. The company will send you an activation code and link to the Experian website where you can enroll and activate your Credit Monitoring Services. The settlement will be effective on January 23, 2020 at the earliest. Read more at www.FTC.gov/Equifax.
In reply to "My ID Notify" isn't related by FTC Staff
In reply to "My ID Notify" isn't related by FTC Staff
In reply to I've been told that the by feeling violat…
The effective date of the settlement does not occur until either (1) the time to file an appeal has expired and nobody has appealed or (2) all appeals are resolved by an appellate court and no more appeals may be filed.
In reply to "My ID Notify" isn't related by FTC Staff
In reply to So, you are saying this by James
The effective date of the settlement does not occur until either (1) the time to file an appeal has expired and nobody has appealed or (2) all appeals are resolved by an appellate court and no more appeals may be filed.
In reply to The effective date of the by FTC Staff
In reply to After properly completing and by bvoris
In reply to From the source you linked: by jd
In reply to My ID Notify expired by Sophie T
The free credit monitoring that's available under the Equifax settlement did not start yet.
If you filed a claim for free credit monitoring under the settlement, the company that manages the settlement will send you information about how to activate your credit monitoring after the Settlement is effective. The company will send you an activation code and link to the Experian website where you can enroll and activate your Credit Monitoring Services. The settlement will be effective on January 23, 2020 at the earliest. Read more at www.FTC.gov/Equifax.
In reply to FAQ #8 states that Settlement by FTC Staff
In reply to I'm not sure how useful the by Callie
In reply to This information should have by T_Roy
Everyone who was affected by the breach can ask for and get free credit monitoring. The settlement site (www.EquifaxBreachSettlement.com) says people who were affected can ask for at least four years of free, three-bureau credit monitoring services, provided by Experian.
If you already sent a claim for the cash payment, you will get an email from the settlement administrator. They will ask you to name the credit monitoring service you already have. If you want to change your request from asking for cash payment to asking for free credit monitoring, you can do it then.
In reply to Everyone who was affected by by FTC Staff
In reply to Is the FTC aware that prior by Jefferson
If you were affected by the breach, you can file a claim for a cash payment, capped at $20,000 per person, for expenses you paid as a result of the breach. You can file a claim for the cost of Equifax credit monitoring and related services you had between September 7, 2016, and September 7, 2017, capped at 25 percent of the total amount you paid. Learn more at www.FTC.gov/Equifax.
In reply to If you were affected by the by FTC Staff
In reply to so you can only get a quarter by NoThankYou
The information at www.FTC.gov/Equifax says you can make a claim for cash payments, capped at $20,000 per person. When you request cash payment, you could request payment for:
1. expenses you paid as a result of the breach (read the details at www.FTC.gov/Equifax);
2. the time you spent dealing with the breach (read the details at www.FTC.gov/Equifax);
3. the cost of Equifax credit monitoring and related services you had between September 7, 2016, and September 7, 2017, capped at 25 percent of the total amount you paid.
In reply to Everyone who was affected by by FTC Staff
In reply to Bridget: Free monitoring is by ken
Ken: Go to www.FTC.gov/Equifax to read about the benefits - including free credit monitoring - an affected person can request. People who were affected can file a claim for cash payments, capped at $20,000 for epenses they paid as a result of the breach, for things like:
People can also file a claim for the cost of Equifax credit monitoring and related services you had between September 7, 2016, and September 7, 2017, capped at 25 percent of the total amount you paid.
People can also file a claim for time they spent dealing with the breach. Read the details at www.FTC.gov/Equifax.
In reply to Ken: Go to www.FTC.gov by FTC Staff
In reply to Bridget: I've read the FAQ by ken
You may find information about that on www.EquifaxBreachSettlement.com in the FAQs (frequently asked questions).
In reply to You may find information by FTC Staff
In reply to Why do you keep dodging the by Lee
We want to provide up to date information to the readers, so it's best to refer people to a source - like www.EquifaxBreachSettlement.com - where they can get current information.
In reply to Bridget: Free monitoring is by ken
In reply to Everyone who was affected by by FTC Staff
In reply to Why would anyone want free by An interested person
FAQ #8 states that Settlement Class Members may submit a claim to enroll in at least four years of three-bureau credit monitoring services, provided by Experian, at no cost. Go to www.EquifaxBreachSettlement.com to learn more.
In reply to Why would anyone want free by An interested person
In reply to This information should have by T_Roy
Pagination