You have until Monday to file your claim if you are among the 147 million people whose data was exposed in 2017 . The Federal Trade Commission said you have until January 20 to file a claim to recover money you spent or lost as a result of the huge database hack.
to help compensate the victims of hackers who stole personal information from Equifax servers. Payments as part of the settlement can cover the cost of recovering from the breach of the Free Credit Reporting Company – including the recovery of your identity and theft and freezing of accounts – and unauthorized charges to your account. You can also following the Equifax data breach.
To get started, you can check if you and your information were exposed as part of the violation. If your data was exposed, collect receipts and other documents related to the hack showing losses and expenses out of pocket. And finally, file your claim for compensation. (The FTC said that because ofthe amount of cash you receive for And make sure you are on the legitimate FTC settlement site: FTC said .)
The violation resulted in hackers stealing credit card and driver's license information, social security numbers, addresses, date of birth and other personal information stored on Equifax's servers. As part of its investigation, the FTC argued that the free credit bureau failed to take reasonable steps to secure its network.
Even if you were not part of the violation and are not authorized to file a claim, you can receive free credit reports for seven years as part of the settlement.
Participating in the Equifax settlement is not straightforward. The exact amount paid by Equifax has not been determined. The proposed settlement will start with a $ 300 million fund to offset the affected consumers who have purchased credit monitoring services. Equifax also pays $ 175 million to state and district – and $ 100 million to the Consumer Financial Protection Bureau in civil penalties.
If the initial $ 300 million infusion does not adequately compensate consumers, according to the FTC, Equifax has agreed to kick in $ 125 million more into the fund for a total possible payout of $ 700 million. If you are an applicant, your part of the settlement may include free credit monitoring and identity theft protection services. You may also be eligible for cash payments to cover expenses incurred as a result of the violation – for example, legal fees and– and for free assistance in recovering from identity theft and free credit reports for 10 years.
This is how you participate in the settlement.
Find out if you were affected by the crime
If you want to check if your information has been exposed, the FTC and the official settlement website have an online tool that you can use to check if you were part of the Equifax violation.
You must enter your last name and the last six digits of your social security number to see if your data was part of the hack.
Preparing and filing your claim
On the Equifax Data Breach Settlement website, you can file an application to recover money you lost or spent as a result of the extensive hack. Here's how to prepare and submit a claim.
- To support your claim, you must collect all documents and receipts that you have related to the violation to show expenses that you were forced to recover from identity theft, and money lost due to the violation.
- To follow the settlement, the FTC proposes that you register to receive updates via email.
- You can also check the FTC's Equifax Data Breach Settlement page and the official update monitoring page.
- And the FTC has a number you can call – (833) 759-2982 – for updates.
- On the official settlement site, you submit an application online.
- You can also follow the instructions on the website to submit your claim or submit an application form to you.
- As part of the claims process, you select which benefits you are eligible for and review which documents you must submit to support your claim. The documentation contains documents showing unauthorized charges, costs for freezing your account, fees paid to professionals to help with theft and other related expenses.
What the settlement payments can cover
The proposed agreement includes payments of $ 20,000 per person to cover what you spent to recover from the violation. Here are the costs and expenses that you may be able to recover.
- Costs related to unauthorized fees on your accounts
- Costs for freezing a credit report and credit monitoring
- Fees paid to accountants, lawyers and other professionals
- Costs for postage, mileage, notes and other services  Credit Monitoring Fees, (But don't expect to get that much.)
- Cost of Equifax Credit Monitoring and other services for one year before the infringement.
In addition, as of 2020, Equifax will provide all US consumers – whether they are part of the settlement or not – with an additional six free credit reports per year for seven years from its website.
When do I have to file a claim?
The FTC said you must file your claim online January 22 or with a postmark January 22. The fastest you get benefits you are eligible for is January 23, the FTC said.
The FTC said that, after all initial payments, there is still money in the fund, it will open an "extended vehicle period" to allow you to claim out-of-pocket loss or time that happens after the initial claim deadline. The FTC said that You must make by January 22, 2024, and claims will be paid on a first come, first served basis.
Originally published in 2019 and updated regularly.