Equifax wants you to jump through more hoops to get your $125 data breach settlement
If you got an email recently with a long subject line, you might have disregarded it as spam or promotion. But if you filed a claim with Equifax for your share of a data breach settlement, you’ll want to pay attention.
The company is making consumers jump through even more hoops, by sending sternly-worded emails to those who have already filed claims.
Now, instead of simply filing the claim and waiting for compensation, customers must verify that they have some form of credit monitoring or protection in place and will continue to have it in place for a minimum of six months from the date of filing.
In order to still receive your settlement, you must either verify or amend your claim by Oct. 15, or your claim will be denied. Equifax is requiring customers to provide the name of the credit monitoring service at the time of filing. The company also said customers can amend filed claims to request free credit monitoring instead of cash.
There have been several reports that suggest that people who filed to collect $125 from Equifax won’t actually receive the full amount. Just $31 million has been set aside for reimbursements for alternative credit monitoring, according to CNN.
In July, the company agreed to a “global settlement with the Federal Trade Commission, the Consumer Financial Protection Bureau and 50 U.S. states and territories.”
In 2017, Equifax disclosed that hackers accessed sensitive data for 143 million Americans including names, Social Security numbers, birth dates, addresses, driver’s licenses, credit card numbers, email addresses and phone numbers. The number of affected Americans was later increased by another 2.5 million, and then increased again by another 1.5 million to 147 million.
Featured photo by Smith Collection/Gado/Getty Images
Welcome to The Points Guy!
WELCOME OFFER: 80,000 Points
TPG'S BONUS VALUATION*: $1,650
CARD HIGHLIGHTS: 2X points on all travel and dining, points transferrable to over a dozen travel partners
*Bonus value is an estimated value calculated by TPG and not the card issuer. View our latest valuations here.
- Earn 80,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $1,000 when you redeem through Chase Ultimate Rewards®. Plus earn up to $50 in statement credits towards grocery store purchases within your first year of account opening.
- Earn 2X points on dining including eligible delivery services, takeout and dining out and travel. Plus, earn 1 point per dollar spent on all other purchases.
- Get 25% more value when you redeem for airfare, hotels, car rentals and cruises through Chase Ultimate Rewards®. For example, 80,000 points are worth $1,000 toward travel.
- With Pay Yourself Back℠, your points are worth 25% more during the current offer when you redeem them for statement credits against existing purchases in select, rotating categories.
- Get unlimited deliveries with a $0 delivery fee and reduced service fees on eligible orders over $12 for a minimum of one year with DashPass, DoorDash's subscription service. Activate by 12/31/21.
- Count on Trip Cancellation/Interruption Insurance, Auto Rental Collision Damage Waiver, Lost Luggage Insurance and more.
- Get up to $60 back on an eligible Peloton Digital or All-Access Membership through 12/31/2021, and get full access to their workout library through the Peloton app, including cardio, running, strength, yoga, and more. Take classes using a phone, tablet, or TV. No fitness equipment is required.