How Much Money Will You Receive in the Equifax Breach Settlement? Find Out Now!
The Equifax data breach of 2017 has been hailed as one of the worst data breaches of all time. It left millions of people’s personal information exposed, including Social Security numbers, birth dates, and credit card information. In response, a class action lawsuit was filed against Equifax, and a settlement was reached.
If you were among the millions of people affected by the Equifax breach, you may be entitled to compensation. Here’s what you need to know about how much money you could receive in the Equifax breach settlement.
Who is Eligible for Compensation?
First things first: who is eligible for compensation in the Equifax breach settlement? Anyone who was affected by the breach is eligible, but there are a few caveats.
– If you had out-of-pocket losses as a result of the breach (such as paying for credit monitoring services or identity theft insurance), you can claim up to $125.
– If you spent time dealing with the fallout of the breach (such as disputing fraudulent charges or freezing your credit), you can claim up to $25 per hour for up to 20 hours ($500 total).
– If you were a victim of identity theft as a result of the breach, you can claim reimbursement for your losses (up to $20,000).
How Much Money Will You Receive?
The amount of money you will receive depends on a few factors, including how many people file claims.
For those who had out-of-pocket expenses or spent time dealing with the breach, the total amount of money available to be distributed is $31 million. If more people than expected file claims, the amount each person receives will be reduced. If fewer people file claims, each person could receive more than the maximums listed above.
For those who were victims of identity theft, the total amount of money available to be distributed is $380.5 million. However, that money will be distributed on a first-come, first-served basis. So if more people than expected file claims, some people may not receive full reimbursement for their losses.
How to File a Claim
If you’re eligible for compensation, you can file a claim online at equifaxbreachsettlement.com. The deadline to file a claim is January 22, 2020.
The Bottom Line
If you were affected by the Equifax data breach, don’t miss out on the opportunity to claim compensation. Whether you had out-of-pocket expenses, spent time dealing with the breach, or were a victim of identity theft, you could receive money from the settlement. File your claim by January 22, 2020, to ensure that you’re included in the distribution of funds.
