If you haven’t heard – in 2017 the credit reporting company, Equifax had a massive data breach that resulted in 147 million people’s sensitive information being stolen. The settlement to this huge problem was Equifax would have to pay $575 million dollars in restitution.
$125 Cash Option Is Not The Best Option
But – If you filed a claim already – you may not be getting the $125 you were promised! They were not expecting the huge response from people claiming the cash option meaning the amount each person will get will lower significantly.
“Each person who takes the money option is going to get a very small amount,” the FTC warned, “Nowhere near the $125 they could have gotten if there hadn’t been such an enormous number of claims filed. You can still choose the cash option on the claim form, but you will be disappointed,” said the FTC.
What Will I Get if I file a Claim Now?
The FTC is urging people to choose the alternative which guarantees you at least 4 years of free credit monitoring at all 3 credit bureaus (Equifax, Experian, and Transunion) plus at least $1 Million of identity theft insurance.
What If I already Filed a Claim, But Changed my Mind?
The FTC will allow you to change your mind if you originally chose the cash option. You will be getting an e-mail telling you how to change your mind if you already filed a claim.
How Do I file a Claim for the Equifax Data Breach
If you have not checked to see if your information was stolen – you should do that now! You can go to this website and enter you last 6 digits of your social security number and your last name!
To file a claim if you were effected you can do it online right here!
Learn even more about the Settlement Here!
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