In September of 2017, Equifax announced it experienced a data breach, which impacted the personal information of approximately 147 million people.
The credit reporting company this week agreed to pay $700 million for claims tied to the hack, which occurred after Equifax botched a software update, and up to $425 million of the total can be claimed directly by consumers.
The figuring out part is pretty simple. All you have to do is enter your last name and last six digits of your Social Security number in a website operated by the settlement administrator (not Equifax). If told your personal information was affected by the data theft, then you can file a claim.
If you are a class member:
1. Free Credit Monitoring or $125 Cash Payment.
You can get free credit monitoring services. Or, if you already have credit monitoring services, you can request a $125 cash payment.
At least 4 years of three-bureau credit monitoring, offered through Experian. You can also get up to 6 more years of free one-bureau credit monitoring through Equifax.
If you already have credit monitoring services that will continue for at least 6 more months, you may be eligible for a cash payment of $125.
2. Other Cash Payments.
You may also be eligible for the following cash payments up to $20,000 for:
- the time you spent remedying fraud, identity theft, or other misuse of your personal information caused by the data breach, or purchasing credit monitoring or freezing credit reports, up to 20 total hours at $25 per hour.
- out-of-pocket losses resulting from the data breach.
- up to 25% of the cost of Equifax credit or identity monitoring products you paid for in the year before the data breach announcement.
3. Free Identity Restoration Services:
You are eligible for at least 7 years of free assisted identity restoration services to help you remedy the effects of identity theft and fraud.
If you want to check if your information was impacted, you can click here.