Equifax Data Breach Settlement explained

With this article, you can learn how much is the Equifax Settlement per person 2022. Has anyone received money from Equifax Settlement? The FTC has provided an update on the Equifax Data Breach Settlement. The settlement administrator begins to look over recent time and money-related damage claims.

How to get compensation? What is the administrator’s email? What is the compensation amount? This article covered every detail of the Equifax Data Breach Settlement.

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How much is the Equifax Settlement per person 2022?

It becomes somewhat less entertaining from this point on. Individual cash payments had a ceiling of $125 each, but since so many people submitted claims, it’s possible that you’ll receive much less than that.

What is the total Equifax Data breach settlement amount? The Federal Trade Commission, the Consumer Financial Protection Bureau, and all 50 states and U.S. territories have reached a global settlement with Equifax. The settlement would include up to $425 million to help those harmed by the data leak.

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Equifax Data Breach Settlement 2022

The credit reporting firm Equifax acknowledged on September 7, 2017, that one of its computer networks had had a data leak that had exposed the personal information of 143 million clients, which eventually rose to 147 million. These records included information about the customers’ names, residences, dates of birth, Social Security numbers, and credit card numbers, all of which may be exploited for fraud and identity theft.

Equifax agreed to establish a fund to provide customers with free credit monitoring, identity theft protection, and cash compensation of up to $20,000 per to people harmed by the event, per the conditions of the deal. Additionally, the company must pay court fees and government fines.

Customers can opt between free credit monitoring or a refund of up to $125. The conditions of the settlement allow you to receive free credit monitoring services. Equifax will provide up to six more years of free single-bureau credit monitoring. Experian will provide you with at least four years of credit monitoring at all three major agencies. You will also receive $1,000,000 in identity theft insurance. If you were a minor in May 2017, you are eligible for 18 years of free credit monitoring. Visit the FTC announcement for more details.

Since the Equifax hack, federal consumer data protections have remained unchanged.

Equifax Breach Settlement email 2022

Official correspondence regarding the settlement will come from the Equifax Breach Settlement Administrator at info@equifaxbreachsettlement.com.

Now, the settlement administrator is reviewing claims for lost time and out-of-pocket expenses. The administrator will email or write to you if more information is needed for your claim. The settlement administrator routinely emails clients qualified for a settlement payout to offer other payment options.

Equifax Settlement payout date

By January 22, 2024, claims must be submitted. Payout will begin following this date.

How to get Equifax Data Breach Settlement compensation?

To be eligible for either a cash reward or free credit monitoring, you must submit a claim (or both). A claim can be filed online or via email.

• www.equifaxbreachsettlement.com
• info@equifaxbreachsettlement.com

The “Extended Claims Period,” which runs from January 23, 2020 through January 22, 2024, is when you must file your claim for out-of-pocket losses or time spent.

Equifax Data Breach Settlement amount

The Federal Trade Commission, the Consumer Financial Protection Bureau, and all 50 states and U.S. territories have reached a global settlement with Equifax. The settlement would include up to $425 million ($125 per person) to help those harmed by the data leak.

Equifax Data Breach timeline

• According to the FTC, Equifax agreed to pay at least $575 million and possibly as much as $700 million in July 2019.
• January 2020: The settlement receives the court’s final approval.
• Actual compensation amount: $425 million (Equifax Breach Settlement)
• January 2022: Completion of the Settlement (FTC)
• The settlement administrator will provide activation codes to eligible clients who select free credit monitoring services in February 2022.
• Benefits for eligible out-of-pocket costs related to the breach or identity theft brought on by the breach, as well as time spent (up to 20 hours) recovering control over the data breach, start to be provided to clients by the settlement administrator in the fall of 2022. Anyone who suffers monetary damage due to identity theft may be qualified to receive up to $20,000. Settlement for Equifax’s Data Breach

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Has anyone received money from Equifax Settlement?

No, the Equifax Settlement payout date will start By January 22, 2024, as we earlier mentioned.

What is Equifax?

Equifax Inc., a global American corporation with headquarters in Atlanta, Georgia, is one of the three largest consumer credit reporting agencies, together with Experian and TransUnion (collectively known as the “Big Three”).

Around the world, Equifax collects and integrates data on more than 88 million businesses and 800 million individual customers. In addition to providing businesses with demographic and credit data and services, Equifax directly offers consumers credit monitoring and fraud prevention services.

In 24 countries in the Americas, Europe, and Asia Pacific, Equifax either conducts business or has financial stakes. Equifax, which employs over 10,000 people worldwide and earns US$3.1 billion in sales annually, is traded as EFX on the NYSE.

Biggest data breaches in the U.S.

• Source: Identity Theft Resource Center

Defending against a data breach: How to stay safe?

To learn how to shield yourself from a data breach, look at these solutions:

• Be aware of who is collecting your data and their intended use.
• Make the login and password for each online account unique and difficult to crack.
• Never provide someone you don’t completely trust your login credentials or passwords.
• Discontinue credit reporting.
• Your credit report should have a fraud notice added.
• Put two-factor authentication into practice.