Equifax Settlement - see if you can claim $$

[Deleted]

AOC tweeted this link to check to see if you were affected by the Equifax breach. If so, you can claim $125 cash or opt for credit monitoring services. You may be entitled to more if you were a victim of identity theft or fraud.

eligibility.equifaxbreachsettlement.com/en/eligibility

[mskitkat]

Thanks! Wow do they push hard for people to take the credit monitoring instead of the cash.

[AAM2012]

Jul 26, 2019 19:11:30 GMT -5 turbo said:

Jul 26, 2019 19:04:13 GMT -5 mskitkat said:

Thanks! Wow do they push hard for people to take the credit monitoring instead of the cash.

Are you not required to take the credit monitoring if you don’t have it? They present it that way so I was all set to claim my money but then thought I couldn’t. The last thing I want is complimentary credit monitoring for six months from a company that couldn’t secure my data in the first place.

It seems pretty clear to me that it’s one or the other. They don’t require verification that you already have a credit monitoring service.


Also, anyone else wonder if this website will be hacked...

PSA: pay a nominal fee to freeze your credit with all 3 agencies. It also helps with junk mail credit card offers.

[bowies]

I recommend going to the Equifax site and clicking through that way - I am deeply uncomfortable with typing most of my SSN into that eligibility site linked in OP. I didn’t have to provide SSN by going through Equifax site.

[mskitkat]

Jul 26, 2019 19:11:30 GMT -5 turbo said:

Jul 26, 2019 19:04:13 GMT -5 mskitkat said:

Thanks! Wow do they push hard for people to take the credit monitoring instead of the cash.

Are you not required to take the credit monitoring if you don’t have it? They present it that way so I was all set to claim my money but then thought I couldn’t. The last thing I want is complimentary credit monitoring for six months from a company that couldn’t secure my data in the first place.

Many credit card companies and banks offer credit monitoring anyway. You may have it and not realize it.

[msmerymac]

Jul 26, 2019 19:11:30 GMT -5 turbo said:

Jul 26, 2019 19:04:13 GMT -5 mskitkat said:

Thanks! Wow do they push hard for people to take the credit monitoring instead of the cash.

Are you not required to take the credit monitoring if you don’t have it? They present it that way so I was all set to claim my money but then thought I couldn’t. The last thing I want is complimentary credit monitoring for six months from a company that couldn’t secure my data in the first place.

Take the cash. It hurts more for them, and if needed you can just sign up for free monitoring at credit karma.

[msmerymac]

slate.com/technology/2019/07/equifax-settlement-money-how-to-claim.html

[One Girl In All The World]

Jul 26, 2019 19:30:04 GMT -5 bowies said:

I recommend going to the Equifax site and clicking through that way - I am deeply uncomfortable with typing most of my SSN into that eligibility site linked in OP. I didn’t have to provide SSN by going through Equifax site.

It looks to me like Equifax provides the same link to determine eligibility. 

[secretlyevil]

www.washingtonpost.com/business/2019/07/27/equifax-settlement-guide-how-get-money-what-you-need-know/

“Given all that, the biggest loophole you should be aware of is that if you do nothing, you will automatically waive your right to take legal action against Equifax in the future.”

[ESF]

Jul 28, 2019 6:03:57 GMT -5 secretlyevil said:

www.washingtonpost.com/business/2019/07/27/equifax-settlement-guide-how-get-money-what-you-need-know/

“Given all that, the biggest loophole you should be aware of is that if you do nothing, you will automatically waive your right to take legal action against Equifax in the future.”

This article is very poorly written, and this sentence is not exactly right for two reasons.

First, if you do nothing, you won't be able to sue Equifax for future harm caused as a result of this data breach. If they put wrong info on your credit report and don't take it off next year, you can still sue them regardless of what you do today.

Second, if you accept the $125 or credit monitoring, you also won't be able to sue them again for future harm caused as a result of this data breach. So if your identity hasn't been stolen today, but gets stolen tomorrow, any costs you occur are on you.   

The only way to ensure you can sue for future harm caused as a result of this data breach is to opt out of the settlement all together, which means writing them them using the instructions on the website, and not accepting the $125 or credit monitoring.

Also I disagree with the people saying the $125 will hurt Equifax more. The amount they pay is capped. While I *think* they don't have to pay the full amount up to the cap if not enough people make a claim, if too many people make a claim, it won't make any difference to what Equifax has to pay. Because it is capped, everyone's amount will be reduced pro-rata. You may be only getting $75 when all is said and done. 

Credit monitoring puts them on the hook for ten years and over time, will cost them more. 

I'm waiting for more information to come out, but I'm leaning towards the credit monitoring. While I completely get why people choose the cash, and those who want it should pick it! But for me, I don't want to contribute to reducing the share of someone who needs the money more than I do, and I'd rather spite them for ten years. 

[msmerymac]

ESF, So the option of credit monitoring. Do they actually have to DO anything if your identity gets stolen as a result of the data breach if you sign up for the credit monitoring, or does their "help" stop by just alerting you to the fact that your identity has been stolen?

[imojoebunny]

It says neither DH or I's credit has been part of the settlement. I think the credit agencies need to be reigned in. DH has been the subject of fraud numerous times, we just got a check to an old address for a loan for a car that we did not apply for, fortunately, old address people thought it was weird and let us know. We still have to explain how he did not ever own a hair salon in Brooklyn, when we live in the south from 20+ years ago, it is ridiculous. I, once, had to prove I was not dead to buy a car. I had a life insurance policy, so I had the agent talk to the loan people. If your dead, and have a life insurance policy, no one claims, it is the same as being alive. They need to have the burden of proof on them, not visa versa. I should not have to prove I am not dead to buy a plane ticket or rent a car, and my DH should not have to prove every time we go for a mortgage loan that he didn't have that stupid hair salon. I don't even know how that is still allowed to be on there, it has been so long.

[mrshandy]

I was found eligible.  I wonder how long it will take to get the money. I already have credit monitoring in place because of the OPM thing so I took the cash. 

[Poeticxpassion]

Jul 29, 2019 9:44:22 GMT -5 mrshandy said:

I was found eligible.  I wonder how long it will take to get the money. I already have credit monitoring in place because of the OPM thing so I took the cash. 

The final hearing is in December, so sometime after that. 

[mrshandy]

Jul 29, 2019 10:35:45 GMT -5 Poeticxpassion said:

Jul 29, 2019 9:44:22 GMT -5 mrshandy said:

I was found eligible.  I wonder how long it will take to get the money. I already have credit monitoring in place because of the OPM thing so I took the cash. 

The final hearing is in December, so sometime after that. 

 I was already mentally spending the money on a pedicure which will be less needed in the winter.

[lust2hart]

Jul 29, 2019 10:51:31 GMT -5 mrshandy said:

Jul 29, 2019 10:35:45 GMT -5 Poeticxpassion said:

The final hearing is in December, so sometime after that. 

 I was already mentally spending the money on a pedicure which will be less needed in the winter.

Yes, from here: www.ftc.gov/enforcement/cases-proceedings/refunds/equifax-data-breach-settlement

"The settlement administrator will not send out any benefits until they are allowed to do so by the court, which will be January 23, 2020, at the earliest. We will update this page, and send email updates, when we have more information."

[Deleted]

I opted for the cash because we have credit monitoring thanks to the OPM breach and also just got an email about additional years of monitoring thanks to a breach of a military contractor that our info was possibly caught up in. So as long as the government keeps getting themselves hacked we’ll probably always have freaking coverage. 🙄

[downtoearth]

I also was eligible. I opted for cash since my work does credit monitoring as a benefit (not that I really have used it).

[SwimDeep]

Both my H and I were eligible - but I knew we would be because I checked our info a few days after the breach was announced.

Disappointed that I have to wait til 2020 to get the money. I need it to cover groceries now :/

[mountaingirl]

I’m eligible but have no supporting documents to prove anything so no $$ for us I guess?

[Poeticxpassion]

Jul 30, 2019 16:59:21 GMT -5 mountaingirl said:

I’m eligible but have no supporting documents to prove anything so no $$ for us I guess?

You don’t need any supporting documentation to claim the $125. You only need it if you are claiming extra money due to hours/expenses from the breach. 

[mountaingirl]

Jul 30, 2019 17:30:49 GMT -5 Poeticxpassion said:

Jul 30, 2019 16:59:21 GMT -5 mountaingirl said:

I’m eligible but have no supporting documents to prove anything so no $$ for us I guess?

You don’t need any supporting documentation to claim the $125. You only need it if you are claiming extra money due to hours/expenses from the breach. 

Hmmm. I’ll have to go read it again. Thank you!
We could really use the money right now but I’d rather wait vs. get nothing.

[WOT?*]

www.kiro7.com/news/why-equifax-says-it-can-t-pay-125-per-person-to-hack-victims-anymore/971701287?fbclid=IwAR0QDq3cK5IZCapEU6F73CFHURxN4MP9TvVG-r11RV8HSU9092Msvz-uC60

Why Equifax can't pay the $125/person per the settlement. "Too many people." So, because it's a set amount, it's less per person than the announced $125.

[Velar Fricative]

Aug 1, 2019 8:54:53 GMT -5 WOT?* said:

www.kiro7.com/news/why-equifax-says-it-can-t-pay-125-per-person-to-hack-victims-anymore/971701287?fbclid=IwAR0QDq3cK5IZCapEU6F73CFHURxN4MP9TvVG-r11RV8HSU9092Msvz-uC60

Why Equifax can't pay the $125/person per the settlement. "Too many people." So, because it's a set amount, it's less per person than the announced $125.

"Sorry but we screwed over way too many people. Here's your $1.25 check in 2027."

[msmerymac]

They're only paying $31 million out in the settlement? So for $125, they thought only 248,000 people would claim cash. Seems legit.

[illgetthere]

Jul 28, 2019 14:45:28 GMT -5 msmerymac said:

ESF, So the option of credit monitoring. Do they actually have to DO anything if your identity gets stolen as a result of the data breach if you sign up for the credit monitoring, or does their "help" stop by just alerting you to the fact that your identity has been stolen?

It has 1million coverage. It's basically Lifelock. Pays for people to help correct the problem for you along with actual damages

[was5]

Neither H nor I were impacted. I wonder what that says about us. I wonder if it depends on when someone ran a credit check.

[agnes]

My work IT sent out a mass email to staff yesterday. All 16,000 employees

[turboteal]

So I got an email today about my claim. I have to verify that I have credit monitoring services (go to site and provide the name of the credit monitoring service I have in place) or else they won't give me the money, if I can't verify I can amend my claim and they will only award the credit monitoring services. Seems like they are trying to make it harder for people to claim the money from the settlement. It says I have until Oct. 15th to comply or else I forfeit any claim 🙄

[thejackpot]

Sept 7, 2019 19:19:25 GMT -5 turboteal said:

So I got an email today about my claim. I have to verify that I have credit monitoring services (go to site and provide the name of the credit monitoring service I have in place) or else they won't give me the money, if I can't verify I can amend my claim and they will only award the credit monitoring services. Seems like they are trying to make it harder for people to claim the money from the settlement. It says I have until Oct. 15th to comply or else I forfeit any claim 🙄

I got that email today too. I just put the name of my CC company that I have credit monitoring through-it isn't something I pay extra for but it is a perk that they offer. I hope that is sufficient. 
It does seem like they are trying to get people to drop the issue.