[Update: Claim Verification Required Within One Month] Check If You Are Eligible For A Cash Settlement From The Equifax Data Breach

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Update 2: Equifax has sent out an email for those who have already opted into a monetary compensation stating that if you did not specify which credit monitoring service you were using you will not receive any compensation.

If you had already been using a credit monitoring service you can verify your current claim by going here and entering the claim code found at the top of the email sent out, you can then enter the name of the credit monitoring you used.

Alternately, can switch from the cash settlement to free credit monitoring.

New claims can still be submitted until 1/22/20, but if you had already filed a claim, you only have until 10/15 to verify or amend your claim.

Update: The FTC has updated their page saying that people won’t get anywhere close to $125 for having their own credit monitoring and that they strongly recommend that you select the 4 years of free credit monitoring. Will you switch from a cash settlement to credit monitoring?

Here is the FTC update:

“The public response to the settlement has been overwhelming. Millions of people have visited this site in just the first week. Because the total amount available for these alternative payments is $31 million, each person who takes the money option is going to get a very small amount. Nowhere near the $125 they could have gotten if there hadn’t been such an enormous number of claims filed.

The free credit monitoring provides a much better value, and everyone whose information was exposed can take advantage of it. If your information was exposed in the data breach, and you file a valid claim before the deadline, you are guaranteed at least four years of free monitoring at all three credit bureaus (Equifax, Experian, and TransUnion) and $1,000,000 of identity theft insurance, among other benefits. The market value of this product is hundreds of dollars per year.

You can still choose the cash option on the claim form, but you will be disappointed with the amount you receive and you won’t get the free credit monitoring.

The settlement administrator will be sending an email to people who already submitted a claim for the alternative cash payment. In that email, you will have the option to:

1) provide additional information OR 2) switch to free credit monitoring.

You also can send an email to info@EquifaxBreachSettlement.com to make a change to your claim.”


I wrote about the Equifax data breach on 9/7/17.

There is now a settlement that you can opt into.

Here is what you can claim:

  • $125 cash if you have credit monitoring as of the date of your claim, as long as you plan on keeping it active for 6 months. Chase Credit Journey is free and monitors your credit file, so signing up before filing is a no-brainer. Just note that the credit score it provides isn’t your real FICO score.
    • Alternatively you can signup for 4 years of free credit monitoring from Equifax in lieu of a cash payment.
  • An additional cash payment for time spent.
    • You can claim reimbursement at $25/hour for up to 10 hours spent in response to the data breach by providing a description of how you spent that time. That includes reading about the data breach and how it happened, learning about the 3 credit reporting agencies and how they determine who is creditworthy, learning how to protect yourself from unauthorized use of your credit, learning about the consequences of identity theft, learning how to freeze your credit reports, checking to see if you were a victim, checking to see for anomalies on your credit report, etc. You must certify that your description is truthful. If you have your own credit monitoring and spent 10 hours in response to the data breach you are eligible for $375 in reimbursement.
    • To claim more than 10 hours and up to 20 hours, you also must provide documentation of fraud, identity theft, or other alleged misuse of your personal information fairly traceable to the Data Breach.
  • A 25% rebate for the cost of identity monitoring paid for between 9/7/16-9/7/17.
  • If you have out of pocket loses or attorney fees due to identity theft from the data breach you can claim these as well.

Of course if too many people opt in then there won’t be enough money and everyone’s payment will be reduced proportionally.

Will you file to opt into the settlement payment?

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157 Comments On "[Update: Claim Verification Required Within One Month] Check If You Are Eligible For A Cash Settlement From The Equifax Data Breach"

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A

Essentially your identity is worth approximately $125 or less

Moe

I have some credit monitoring from capitol one from having their credit card, do I still need to enrol in the one you mention above?

Hey

Who runs the website to even check to see if you’re eligible ? I glanced at it.

Anyone have details?

ROYA

Dan, how do you get your real FICO score?

Thingy

Just filed. That was a quick $125. Thanks.

Not that Dan

This is the only time when getting the money is not such a good thing…

traveler

on the subjectof settelements, do you mind posting the number for the cash settelment for the delayed flights when flying to europe? you posted it on one of your posts and i could for the life of me find it i checked every post in the search engine

Sam

Dan, What option do you recommend? I don’t any credit monitoring at the moment.

Avi

When is the deadline to submit the claim

Shlomo

You have until January 22, 2020 to file a claim and you won’t get the money until the judge signs the settlement which can be a few months

db

The deadline to file a claim for time you have already spent as a result of the Data Breach is 01/22/2020. The deadline to file eligible claims for time you spend in the future as a result of the Data Breach is 01/22/2024

JR

done… submitted!

JS

I’m a bit confused. I can just claim the $125 without all these hours? That’s additional $$?

Shlomo

Does credit karma count as credit monitoring?

Al

Hey Dan, if I opted in for the $125 but didn’t opt in to the 10 x $25 for the $250, is it too late to go back and get that?

ROYA

Was this data breach only credit card numbers or social security numbers as well?

David

Credit karma is good too ?

Moshe

If I am a Chase customer do I still have to enroll in Credit Journey?

Tom

$125

db

in for $375 thanks

Eve

Was there an additional form to fill out for the 10 hours?

Chaim

Seems like if I pay monthly for Equifax monitoring for a family plan, it would make sense to take 4 years of free monitoring, than the $125. Makes sense?

YoniPDX

To add injury to insult if your had an ID Theft issue with regards to this breech. They may send you a 1099-misc.

It will probably will not apply for most people but if your end up with a claim over $600 up with a 1099-Misc and tax law change in Dec 2017. Except for Personal injury awards (i.e. car accidents, etc). You pay taxes on 100% of any other monetary rewards (no longer write off Atty fees on awards).

Not an atty but learned last tax year about this, from a lawsuit which we prevailed.

https://margarianlaw.com/are-class-action-settlement-payments-taxable/

S

What makes a credit score real? It all depends on what the company you’re trying to get a loan from uses. Can you clarify which one is used most?
I have a Transunion Vantagescore 3.0 reported from Chase and Capital One, and an Experian FICO score 8 reported on my Amex.

Yehuda

I haven’t read the fine print, but in theory if someone has problems down the line due to the breach, are they settling with Equifax now and exempting them from any further claim by accepting $125 today?

I know this is far fetched, I’m just thinking out loud….

Nahag

I now live in Israel. I have not received a letter. Is it still applicable to me.

Moshe Eshel

Hey Dan & co.
The credit monitoring offered by Equifax is offering in addition to the monitoring itself, a $1M insurance in case of identity theft, that sort of sweetens the pot, maybe that’s worth $125? WDYT?
https://www.ftc.gov/enforcement/cases-proceedings/refunds/equifax-data-breach-settlement

Thingy

Would the credit score provided by Amex qualify as credit monitoring to be eligible for this offer?

Zal

+1?

sdd

does discover identity alerts count as credit monitoring

Ari

Have that question 2

ROYA

I’m in for 250 and my wife for 125. Thanks Dan!

Moshe Eshel

BTW, 174 million people were affected, but settlement is only $425 million – at $125 per person (minimum, I’m assuming the credit monitoring is calculated to be approximately worth that amount), that doesn’t come close to cover all injured parties, what happens if there are more claims than money?

Confused at the question

425m for 174m people, that 2.44 MILLION PER PERSON

S

Lol check your math dude.
$2.44 per person.

S

If those numbers of 425M settlement and 174M people affected are correct:
If average payout is $150 (most ppl $125, but small amount of ppl claiming significantly higher for time and costs), then 2.833M ppl would hit their settlement amount. That’s 1.6% of the 174M ppl eligible.
These numbers obviously are not exact but pretty surprised if that little people would claim.
I get that most people won’t opt in but here even 2% of people opting in is already over the amount of settlement and payouts would be reduced.

S

Ok wow so your numbers are wrong. There should be 147M (not 174M) people eligible, and though there’s few different settlement numbers being thrown around from $525M to $700M, there’s only $31M total available for most people! Under 0.2% of people would have to claim for people to get full payout.
Dan – any thoughts?

Gaby

So do we have to put in our ss# so they can breach it again

Israel Lefkowitz

it seems from the wordings that for any claim on spending time response to the breach you need to provide documentation even for the first 10 hr. is that the situation?

chaz

hey dan or anyone else. are you familiar with a visa/mastercard settlement that is in the works for billions for people that accepted visa/mastercard as a form of payment and they were overcharging for years?

Ari

Got the free credit monitoring for myself and wife
Thanks Dan

Fraud call or legitimate?

The past few weeks I kept getting phone calls about my security being hacked , I believe they said my social security is at risk, it was an automated message, they left multiple messages. I ignored it as I believe it was fraud.
Any suggestions what I should do?
Is it in connection to this?
Thanks!

Fraud call or legitimate?

Thanks!

Texas Totty

I’ve been getting that every other day. I finally gave it to them over the head and haven’t heard back since.

Cash or Credit Monitoring?

Why the cash over the credit monitoring?

JS

On the second link for filing a claim it does not ask for SSN. How do they verify your eligibility?

fjdo

Thanks Dan. Wouldn’t have known about this if not for your post. Always happy for some extra cash 😉

fjdo

BTW any idea when to expect the payment to be mailed??

Bob

If there are more than $31 million in claims for Time Spent during the Initial Claims Period (see FAQ 12), all payments for Time Spent will be reduced and distributed on a proportional basis.

Ness

I’ve had a couple accounts like Marriot hacked and spent loads of time with the hotels on trying to fix it… Do you think that could have been because of this breach?

Sam

Do they have a way to know if you currently have credit monitoring ?

USam

I’m eligible

Jack out of the Box

Thanks Dan!

chaz

this is what i meant. while not relevant to most it may be relevant to some
https://money.cnn.com/2018/09/18/news/companies/visa-mastercard-lawsuit-settlement/index.html

Sholam

If I wrote by mistake 8/17 instead of 8/18 is it fine?

Sholam

By the date I wrote August 2017 instead of 2018 can I still get the $$?

hiii

+1

hiii

whoops. meant that for the q abt kids

Jonji

Can you get $125 for kids?

hiii

+1

hiii

meaning i wanted to know if you can do for kids under 18?

DU

I live in a apt that I do not plan on being in in a few years (when the checks would come). Should I put a different address when filing the claim, or does it have to be my billing address?

Yitz

My privacy was blown, which resulted in untold aggravation, how would I ever prove that it has anything to do with the hack?

marvin pollack

Thanks, applied for the $125, did not spend any time on this.

Mayer

Hi Dan, If you click on the second link, it allows you to skip the vitrifaction process and you can file a claim even if you are not eligible

Steve

Vitrifaction process??? Are you being turned into glass???

Russel

did anyone check to make sure this is legit? Not spoofing?

Asher Millman

I billed for $125 + 4 hours of freezing my credit ($100), researching and singing up for a credit monitoring (ultimately did with Lifelock) + $560.67 for 22 months of Lifelock at $25.49 per month

Joey

I always sing my credit monitoring.

Eli

Is this tax exempt, or the government becomes a Mechiten here too?

RenoRich

Many thanks, Dan!

Shia

How come I have a account by credit karma and also by Chase and I am not eligible for this money ?!

Pepe

how are you guys justifying the 10 hours ?

Mike

Slow reader!

Mike

Hey Dan,
If I have Chase (I have/use Credit Journey) and Credit Karma, and a Capital One Savor card, will I need to sign up for the Credit Monitoring by Equifax? Or can I get the $125 plus $250 from time spent researching without doing anything else except filling out the settlement information. I want to make sure I understand this all right.

zack

I filled out the form. How do i know if i got approved for the payout?

Andy

We will all get significantly less than what is advertised. Mark my word.

chanad

If you already had Discover credit monitoring before the breach, does that count? Or you hd to sign up after the breach? Obviously, I didn’t sign up because I already had it!

Rivka

Is Barclay card arrival fico score that gets updated regularly considered monitoring?

Seymour

Is the info we provide for this settlement going to be public knowledge?

Emes

It already is. That’s what the settlement is for.

G

The chance you get $125 is a big fat ZERO

You can take the 10 years of monitoring of $0.35 once everyone puts in their claim

dates

which dates did i monitor and work on my case

chaz

it amazes me how time after time people will comment or question and it’s always the same response, read the post! dan please change this generic response to: read the post three times please!

S

The FTC said there has already been millions of claims and cash payout will be majorly reduced (total payout of $31 million and millions of people already filed, we’re talking about a few dollars a person).

Steve

here’s to hoping everyone else changes to the credit monitoring…

nsx at FlyerTalk

Who could have predicted this? Other than everyone, I mean. From the beginning I expected to collect less than $1.

If only the lawyers were required to cut their payday proportionately.

David

@Dan, now that we know that it won’t be anything close to $135, will you be changing or will you be sticking with the cash option nevertheless?

YL

Well I just spent 15 minutes reading the comments on DD. I guess that counts for 7.50

Mark

Crowds ruin everything.

Sam

Then why didn’t they do the math? It’s a simple division problem. If there’s x identities stolen, and y dollars in the settlement, don’t promise each person more than (y/x) dollars!

puzzlefighter

Thanks. I definitely spent at least ten hours on this since that time, but I haven’t been keeping any documentation of it. So, ten it is.

Eli

The argument to take the free credit monitoring for 4 years is very convincing. Why does that cost so much less than the $125 per person, especially if the FTC claims the 4 year credit monitoring is valued at “hundreds of dollars per year”?

Ari

For a breach of >140 million accounts, they provide $31 million dollars in restitution to the account holders. That’s about $0.22 per account breached! Pathetic that the FTC let them get away with a settlement like that, and even more egregious that they claim to pay ‘up to $125’ per account – everyone knew that was not going to happen!!!

Shaul Yaakov Morrison

It’s reverse psychology at this point. Now if everyone switches to the monitoring, those who don’t might actually be able to collect the 125. But if everyone thinks that way, then nobody gets it.

Helen

Nobody or close to it is changing to credit monitoring.

Not that Dan!

Dan – do you not think the $1MM in coverage is worth it? That isn’t cheap with competitive providers.

Emes

See Dan’s response to MB above.

S

Emes – his response was written when comparing it to receiving presumptively the full $125. Now that it’s pretty clear it will be significantly less (probably under $10-20 max), I’d like to hear his thoughts now.

Emes

To quote Dan – “What do you need insurance for?”
With a response like that one can reasonably infer Dan doesn’t think the insurance is worth anything. Speaking from experience I personally think he is mistaken, but he’s entitled to his opinion

I don’t believe in this thread that Dan mentions which option he actually went for , but nor do I think Dan ever thought he would get anything close to $125.00 considering he did say from the start the payout would be reduced the more people that file.

Isaac

I actually am quiet satisfied with the free credit monitoring

steve

This is very very frustrating and a slap in the face to consumers.

Their quote that “The public response to the settlement has been overwhelming. Millions of people have visited this site in just the first week. Because the total amount available for these alternative payments is $31 million, each person who takes the money option is going to get a very small amount. Nowhere near the $125 they could have gotten if there hadn’t been such an enormous number of claims filed.”

Basically admits they knew the settlement amount wouldn’t cover all the claims, the FTC is the one who decided the fine and payout package, they deliberately defrauded the public and are now trying to herd everyone to the free monitoring service.

It should be illegal to set up a compensation fund that can’t adequately handle all eligible participants. This should never happen again!

Chaim Rolnitzky

The FTC wants to make sure they use up the other money, besides the $31m allocated for the $125, but if more people don’t listen to the FTC and still opt for the money, whatever is left from the big pot will eventually be distributed to everyone.
So I believe the initial check will be just $20, but after for years there’ll be more checks coming.
https://slate.com/technology/2019/07/ftc-equifax-125-payment-credit-monitoring.html

Ellie Obermeister

Would I need to upload supporting documents for the cost of Equifax credit monitoring and related services that I paid for?

Tony

Can I change from 125 to credit monitoring?

Daniel

This is a complete cluster F.

Oliver

I’m not understanding the email or post. Can someone explain. I read it 3 times… I guess I’m not that smart ‍♂️

Emes

If you care about identity theft, then search near the top of this post: “You can check here to see if you’re eligible to file for a settlement from Equifax.” Follow that link and then the prompts. If you’re eligible for a claim, then file for three bureau free credit monitoring and the extended one bureau free credit monitoring. You don’t really need to understand anything else posted here.

Joe

Translation if this is confusing. Equifax wants to weasel out of this so they are creating extra hoops for you to jump through hoping you’ll forget or give up. They are proving themselves to be true villains.

Emes

At this point there’s nothing really to weasel out of. They are telling you if you left off the name of the credit monitoring company you are using, you need to go back and fill it in, because if you don’t, instead of getting $0.12 you’ll get $0.00.

Joe

I don’t recall being asked to name the monitoring service when I filled out the form initially. This feels more like another attempt to get people to switch from cash payout option to the credit monitoring option, just like they tried to influence people to do last month with the media campaign about $125 not being a realistic number.

David

does have credit karma work as credit monitering?

Jim

What do you recommend for retaining the $125 settlement (minimum) if individuals have existing credit monitoring? Credit Karma, Credit Sesame, or Quizzle?

Emes

Minimum? Thought that was a maximum.

dan\'s fan

credit journey from chase ?

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