Equifax data breach settlement

[MichaelB]

Remember the Equifax data breach? Equifax has reached an agreement to settle. Terms of the settlement can be found here https://www.ftc.gov/enforcement/cases-proceedings/refunds/equifax-data-breach-settlement

As this is an FTC webpage it isn’t copyright protected, so it can be reproduced here, so a summary of the settlement follows.

In September of 2017, Equifax announced a data breach that exposed the personal information of 147 million people. The company has agreed to a global settlement with the Federal Trade Commission, the Consumer Financial Protection Bureau, and 50 U.S. states and territories. The settlement includes up to $425 million to help people affected by the data breach.

To get the free credit monitoring or cash payments described below, you must file a claim when the claims process begins.

Highlights of the benefits Equifax will provide

Once the claims process begins, if you were affected by the breach, you can request:

Free Credit Monitoring and Identity Theft Protection Services
Up to 10 years of free credit monitoring OR $125 if you decide not to enroll because you already have credit monitoring. The free credit monitoring includes:
At least four years of free credit monitoring of your credit report at all three credit bureaus (Equifax, Experian, and TransUnion) and $1,000,000 of identity theft insurance.
Up to six more years of free credit monitoring of your Equifax credit report.
If you were a minor in May 2017, you are eligible for a total of 18 years of free credit monitoring.
Cash Payments (capped at $20,000 per person)
For expenses you paid as a result of the breach, like:
Losses from unauthorized charges to your accounts
The cost of freezing or unfreezing your credit report
The cost of credit monitoring
Fees you paid to professionals like an accountant or attorney
Other expenses like notary fees, document shipping fees and postage, mileage, and phone charges
For the time you spent dealing with the breach. You can be compensated $25 per hour up to 20 hours.
For the cost of Equifax credit monitoring and related services you had between September 7, 2016, and September 7, 2017, capped at 25 percent of the total amount you paid.
Free Help Recovering from Identity Theft
For at least seven years, you can get free identity restoration services.
Free Credit Reports for All U.S. Consumers
Starting in 2020, all U.S. consumers can get 6 additional free credit reports per year for 7 years from the Equifax website.

According to the FTC site, the settlement is not yet available. You can sign up for updates and will be advised when it is operative, here https://public.govdelivery.com/accounts/USFTC/subscriber/new?topic_id=USFTC_109

FTC webpage announcing settlement here https://www.ftc.gov/enforcement/cases-proceedings/refunds/equifax-data-breach-settlement

Equifax data breach settlement page here https://www.equifaxbreachsettlement.com

 

[MichaelB]

The FTC settlement has now been approved and is up and running. The FTC has a tool to see if you were affected, here https://eligibility.equifaxbreachsettlement.com/en/eligibility

The settlement terms are here https://www.ftc.gov/enforcement/cases-proceedings/refunds/equifax-data-breach-settlement

 

[ShokWaveRider]

Based on the Tool you posted DW and I were not affected....

 

[Big_Hitter]

so we each get 5 bucks?

 

[MissMolly]

According to the tool I was as well as my husband.....

 

[COcheesehead]

I was affected, but to prove the time it took to freeze my credit is nearly impossible. So I went with the monitoring option rather than the cash.

 

[ExFlyBoy5]

I was affected, but to prove the time it took to freeze my credit is nearly impossible. So I went with the monitoring option rather than the cash.

It doesn't appear that you have to "prove" anything, simply certify that what you claim is true.

You may receive reimbursement for up to 10 hours at $25 per hour by providing a description of (i) the actions taken in response to the Data Breach in dealing with misuse of your information or taking preventative measures and (ii) the time associated with those actions. You must certify that the description is truthful. Valid claims for Time Spent will be reimbursed in 15-minute increments, with a minimum reimbursement of 1 hour per claim.

 

[COcheesehead]

It doesn't appear that you have to "prove" anything, simply certify that what you claim is true.

You sure? They asked me to upload documentation of my time spent.

Here is the screen shot from the website.

 

[Draggon]

Thanks for the info, MichaelB. I've been meaning to look into it since the settlement details started hitting the headlines but hadn't had a chance yet. I appreciate the concise summary. Unfortunately, both DW and myself were affected. Luckily, nothing adverse in our credit reports to date. What a mess...

 

[Just_Steve]

3 out 4 impacted in my household.

 

[ponyboy]

I took the $125 option. You do not have to provide any documents, just as long as you qualified when you entered your 6 digit ssn and last name.

We already have credit monitoring through another breach from another time. Not that it matters either way. Everyones info is floating around at this point. Get used to it.

 

[COcheesehead]

I took the $125 option. You do not have to provide any documents, just as long as you qualified when you entered your 6 digit ssn and last name.

We already have credit monitoring through another breach from another time. Not that it matters either way. Everyones info is floating around at this point. Get used to it.

I must be looking at a different website or something. They asked me for documentation in two separate areas. Oh well.

 

[COcheesehead]

I took the $125 option. You do not have to provide any documents, just as long as you qualified when you entered your 6 digit ssn and last name.

We already have credit monitoring through another breach from another time. Not that it matters either way. Everyones info is floating around at this point. Get used to it.

You all must be confused. Here are the directions right from the website.

You can file claims for some or all of the benefits in Sections 1-3 if you are eligible. Before you start, make sure you have your supporting documents ready to upload if you plan to request payment in Section 2 or 3. Click here to see the types of documentation that you may need. You do not need any documents to file Section 1 claims.

Examples of Supporting Documentation
×
Costs, expenses, losses due to identity theft
Account statement with unauthorized charges highlighted; police reports; IRS documents; FTC Identity Theft Reports; letters refusing to refund you for fraudulent charges
Costs for freezing or unfreezing your credit report on or after 9/7/2017
Receipts, notices, or account statements reflecting payment for a credit freeze
Credit monitoring purchased after the data breach
Receipts or statements for credit monitoring services
Professional fees paid to address identity theft
Receipts, bills, and invoices from accountants, lawyers, or others
Other expenses such as notary, fax, postage, copying, mileage, and long-distance telephone charges
Phone bills, receipts, detailed list of places you traveled (i.e. police station, IRS office), reason why you traveled there (i.e. police report or letter from IRS re: falsified tax return) and number of miles you traveled

 

[Draggon]

You all must be confused. Here are the directions right from the website.

If I recall correctly, Option 1 (the no documentation option) was actually two options. Option 1a was credit monitoring for 3 years + 6 years (opt-in). Option 1b was "I already have credit monitoring, send me $125". No documentation needed.

Documentation was needed for Options 2 and 3 where one would claim to experience real financial loss.

 

[COcheesehead]

If I recall correctly, Option 1 (the no documentation option) was actually two options. Option 1a was credit monitoring for 3 years + 6 years (opt-in). Option 1b was "I already have credit monitoring, send me $125". No documentation needed.

Documentation was needed for Options 2 and 3 where one would claim to experience real financial loss.

No, that is not correct. Go back and click through the options. You'll get to the same documentation required page. With the following instructions "It is important for you to send documents that show what happened and how much you lost or spent, so that you can be repaid (except for money you may have spent on Equifax subscription products as explained below). If they are the same as the documents you attached in Section 2, you do not need to upload them again."

 

[bmcgonig]

If I recall correctly, Option 1 (the no documentation option) was actually two options. Option 1a was credit monitoring for 3 years + 6 years (opt-in). Option 1b was "I already have credit monitoring, send me $125". No documentation needed.

Documentation was needed for Options 2 and 3 where one would claim to experience real financial loss.

+1

That's what I saw too

 

[COcheesehead]

I think what is confusing to everybody is you can complete the form and select the method of payment without uploading anything. It doesn't stop you from completing if you don't upload documentation, but I bet you won't get anything since all the instructions say

"It is important for you to send documents that show what happened and how much you lost or spent, so that you can be repaid (except for money you may have spent on Equifax subscription products as explained below). If they are the same as the documents you attached in Section 2, you do not need to upload them again."

 

[ExFlyBoy5]

You all must be confused. Here are the directions right from the website.

You can file claims for some or all of the benefits in Sections 1-3 if you are eligible. Before you start, make sure you have your supporting documents ready to upload if you plan to request payment in Section 2 or 3. Click here to see the types of documentation that you may need. You do not need any documents to file Section 1 claims.

Examples of Supporting Documentation
×
Costs, expenses, losses due to identity theft
Account statement with unauthorized charges highlighted; police reports; IRS documents; FTC Identity Theft Reports; letters refusing to refund you for fraudulent charges
Costs for freezing or unfreezing your credit report on or after 9/7/2017
Receipts, notices, or account statements reflecting payment for a credit freeze
Credit monitoring purchased after the data breach
Receipts or statements for credit monitoring services
Professional fees paid to address identity theft
Receipts, bills, and invoices from accountants, lawyers, or others
Other expenses such as notary, fax, postage, copying, mileage, and long-distance telephone charges
Phone bills, receipts, detailed list of places you traveled (i.e. police station, IRS office), reason why you traveled there (i.e. police report or letter from IRS re: falsified tax return) and number of miles you traveled

There are different steps depending on the option you select. For the one time $125 payment,

 

[COcheesehead]

+1

That's what I saw too

Go through it again. That is not correct.

 

[COcheesehead]

There are different steps depending on the option you select. For the one time $125 payment,

That is right. Now continue to click through and you will be asked to include documentation. It won't stop you if you don't and it even asks how you want to be paid, but then they hit you with this

"It is important for you to send documents that show what happened and how much you lost or spent, so that you can be repaid (except for money you may have spent on Equifax subscription products as explained below). If they are the same as the documents you attached in Section 2, you do not need to upload them again."

 

[ExFlyBoy5]

That is right. Now continue to click through and you will be asked to include documentation. It won't stop you if you don't and it even asks how you want to be paid, but then they hit you with this

"It is important for you to send documents that show what happened and how much you lost or spent, so that you can be repaid (except for money you may have spent on Equifax subscription products as explained below). If they are the same as the documents you attached in Section 2, you do not need to upload them again."

It did not ask that of me. Are you seeking the payment for the hourly rate or the flat $125? The flat $125 is for getting monitoring on your own "starting today and for the next 6 months." I meet that requirement by subscribing to Credit Karma.

Edit: You have to UNCHECK the "yes" on this page to advance through the "your time spent" page.

 

[COcheesehead]

It did not ask that of me. Are you seeking the payment for the hourly rate or the flat $125? The flat $125 is for getting monitoring on your own "starting today and for the next 6 months." I meet that requirement by subscribing to Credit Karma.

Edit: You have to UNCHECK the "yes" on this page to advance through the "your time spent" page.

I see what you mean. Well let's see if I get $125 or if they ask for documentation.

 

[ExFlyBoy5]

I see what you mean. Well let's see if I get $125 or if they ask for documentation.

It can be confusing. My DW was on the page to fill out the time and I had to show her how to back out of it. I bet this is by design...make it look like it's too hard and keep people from making the claim. If it works, it will be the easiest money I have made today, considering the small dip in the stock market.

 

[pjm-7]

What is anybody doing about elderly parents? I put in dad's ssn info and he was impacted. Brother is POA and I handle taxes and investments. I think it would be wise to request the credit monitoring since he currently does not have any credit cards and is in assisted living.

 

[Scrapr]

The FTC settlement has now been approved and is up and running. The FTC has a tool to see if you were affected, here https://eligibility.equifaxbreachsettlement.com/en/eligibility

The settlement terms are here https://www.ftc.gov/enforcement/cases-proceedings/refunds/equifax-data-breach-settlement

I had a lot of trepidation clicking that link. It would be a perfect set up for ID theft. A Russian will be setting that up this afternoon

I did it anyway