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Equifax breach - basic claim up to $125 back for 2017 hack - or free credit monitoring or document up to $20k losses

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Update to post:
Check eligibility here: https://eligibility.equifaxbreach...ligibility
File a claim here: https://www.equifaxbreachsettleme...le-a-claim
edit 8/8/19: It may be best to NOT claim the $125 payout, as basic math shows that likely no one will get $125 for the basic claim. I personally do not agree that signing up for credit monitoring provided by the guilty party is a good option either. Most of us have this already, whether paid through a more trusted source, or free with credit card. The best may be to opt out of the class, as you can then sue them in the future should you find your information was then used for identity theft or something else, and then sue them in court of law to have all losses covered - not this $125 or less gambit.

Earlier post:
Register with FTC now, to get an alert when the settlement is finalized.
https://public.govdelivery.com/ac...=USFTC_109
edit: You can also reach this govdelivery.com signup via government pages by clicking here: https://www.ftc.gov/enforcement/c...settlement . Then click "Equifax Data Breach Settlement: What You Should Know", then "sign up to get FTC email updates", and it sends you to the same govdelivery I first linked (provided by government contractor Granicus).
Or read all 554 pages of the Settlement here [nyt.com]

I'm expecting to get an email with final signup in next 6 months or so, and a check in a year? Curious if they'll have a validation to confirm all your personal info like SSN, home address, mother's maiden name, to let me pass that across the web to them one more time to test their better than ever upgrades.
But with 147 million people impacted, and Equifax potentially covering up to $20,000 per person, it might be worth signing up to finally get something back from these we entrust with something extremely valuable to each of us, which seems like it's only good for one company to sell to another.
Especially when, as according to Congress after their investigations, this breach was "entirely preventable".
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Created 07-22-2019 at 10:17 PM by IGGUS
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Last Edited by WhosUrBuddiee August 7, 2019 at 03:36 AM
The entire $125 payout from FTC was BS.
https://www.vice.com/en_us/articl...om-equifax

Check if you qualify.
https://eligibility.equifaxbreach...ligibility

Note, it is unlikely you will get up to $125.....
https://www.cbsnews.com/amp/news/...unt-on-it/

The $125 cash payment comes with several major strings attached. For one, it's only available to people who already have credit-monitoring services, which typically cost between $10 to $30 a month. On top of that, you'll have to provide proof you will continue to use the service for the next six months.
..... The pool of money to fund the payments is topped at $31 million. If the claims exceed that amount, the per person payout "will be lowered and distributed on a proportional basis," the settlement site's FAQs notes.

In other words, if more than 248,000 people make claims on the $31 million pot of money, the per person payout will be less than $125. If all 148 million victims claimed the award, the payout would be lowered to 21 cents per person.


Based on Equifax breachsettlement FAQ-10, it is up to $125 back and not at least $125.
https://www.equifaxbreachsettlement.com/faq

Even if you file for reimbursement, there's a good chance you won't actually get the full $125 that Equifax and the FTC are talking about. Things are worded carefully in the agreement, but the bottom line is there's a limited amount of money in the payout pool, and it won't cover $125 checks for 147 million people.
Equifax will pay at least 380 millions dollar into a Consumer Restitution Fund and there are 147 million people affected.

======================

You can get either 4 years of free credit monitoring (as stated in FAQ 8). Or Alternative Reimbursement Compensation for up to $125 (as stated in FAQ 10) and you must certify that you have some form of credit monitoring or protection services on the date you submit your claim form and that you will keep those services for a minimum of six (6) months.

From their FAQ https://www.equifaxbreachsettlement.com/faq

8. How will the settlement help protect me against future identity theft and fraud?

Settlement Benefit: Credit Monitoring Services: The settlement provides a way to help protect yourself from unauthorized use of your personal information. Settlement Class Members may submit a claim to enroll in at least four (4) years of three-bureau credit monitoring services, provided by Experian, at no cost. These services include the following features:
  • Three-bureau credit monitoring providing notice of changes to your credit report at all three national credit bureaus;
  • Up to $1 million dollars in insurance covering costs related to identity theft or fraud;
  • Real-time notification of credit inquiries and other notifications;
  • On-demand online access to a free copy of one-bureau credit report, updated on a monthly basis;
  • CyberAgent® Dark Web Monitoring that monitors internet activity for the trading or selling of your personal information;
  • Customer support provided by Experian; and
  • Many other features described here [equifaxbreachsettlement.com].

10. What if I already have credit monitoring or identity protection services?

Settlement Benefit: Cash Alternative Reimbursement Compensation: If you already have some other kind of credit monitoring or protection services, and do not claim the free Credit Monitoring Services available through the settlement, you may file a claim for Alternative Reimbursement Compensation for up to $125. To claim Alternative Reimbursement Compensation you must certify that you have some form of credit monitoring or protection services on the date you submit your claim form and that you will keep those services for a minimum of six (6) months.





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#3
See, from another article I understood that you can get at least $250 without much proof. It has to do with this sentence "For the time you spent dealing with the breach. You can be compensated $25 per hour up to 20 hours" in this page https://www.ftc.gov/enforcement/c...settlement

The other article on Marketwatch says
Quote :
Every person can receive up to $500 for the time they spent "taking preventative measure or dealing with identity theft," court papers said. Consumers are eligible for up to 20 hours of reimbursement. Ten hours — $250 — can be self-certified and do not require any documentation, according to the document. Another 10 hours have to backed up by documentation such as banking and credit card statements.
So now I'm thinking that $375 is the minimal amount to shoot for.
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#4
Preliminary settlement info straight from Equifax's website:

https://www.equifaxbreachsettlement.com/
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Quote from ddao2551
:
Preliminary settlement info straight from Equifax's website:

https://www.equifaxbreachsettlement.com/
Thanks. I wasnt gonna give my information to a website that doesnt end in .gov. details are different too. Would be nice if the first stuff was true but this seems more likely.
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#6
I don't think that the settlement numbers add up to that kind of individual payout, after attorney's fees.
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Quote from ddao2551
:
Preliminary settlement info straight from Equifax's website:

https://www.equifaxbreachsettlement.com/
Quote from Donkea
:
Thanks. I wasnt gonna give my information to a website that doesnt end in .gov. details are different too. Would be nice if the first stuff was true but this seems more likely.
Thanks, I felt the same way when I first saw the questionable govdelivery.com website, which has an easy to acquire SSL with low level validation and a website with private registration - the first signs of a website which I'm not interested in providing my personal info.

But I dug more into it, and it looks like a major government contractor Granicus has built this out and does this kinda thing all the time. You'd think the FTC and other government folks would know the general public would only want a .gov URL for this type of thing, but...

So I've updated my OP with the first .gov link, and the links to click to reach the signup form on that .com site. I just thought it best to share the final link to the signup form for simplicity's sake, but I also just added the extra steps in italic for authenticity's sake.

At this point people can fill in the form, or just wait a few months, maybe forget, and maybe get the $100+.
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Cool. Cool. $125 bucks is fair when my ss# and driver's license number is out in ether for the rest of my lifetime. Sounds fair.
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#9
The Equifax site says you might be eligible for:

Quote :
the time you spent remedying fraud, identity theft, or other misuse of your personal information caused by the data breach, or purchasing credit monitoring or freezing credit reports, up to 20 total hours at $25 per hour.
Does that mean if we purchased a credit monitoring/ID theft insurance from something like LifeLock, IDShield, etc., we can recover those costs, or is it only if you have documented "harm" directly tied to confirmed ID theft?

I started buying ID theft insurance when this went down. I've been paying for it for about two years now. Can I get some of that back or what? I can't really tie it directly to time spent, which would be negligible (maybe a few hours to research and purchase), but I still have a monthly fee hitting my credit card each month and probably will for the rest of my life.

I hope there are more details about what qualifies and what doesn't, because this is somewhat ambiguous about preventative expenses that were taken as a direct result of the breach.
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#10
Can't wait to get my 34 cents !!!
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#11
Can someone let me know if we need to do something to be in the settlements? Or is it automatically and this is just for news update?

Edit: sign up for updates and once the claim is open you can register again to be in
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Last edited by trungvnnn July 23, 2019 at 05:13 AM.
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Quote from trungvnnn
:
Can someone let me know if we need to do something to be in the settlements? Or is it automatically and this is just for news update?

Edit: sign up for updates and once the claim is open you can register again to be in
Too early still. Eventually there should be a site to fill out some forms and report what damages you had experienced
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Quote from Ashvins
:
I don't think that the settlement numbers add up to that kind of individual payout, after attorney's fees.
They were fined up to 700 million dollars. So best case scenario is every one gets about 5 bucks and the lawyers get nothing?
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Quote from inhence
:
Can't wait to get my 34 cents !!!
Luckily for me, MA is suing separately. Hopefully we get more, but I don't know if I'm willing to give up my right to sue for more should I really have an issue in the future from the breach... Who knows how long my info will be sitting out there in the black market before someone buys it up to really use it.
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Hopefully everyone has put a freeze on their credit reports. If you don't know how to do it or what it is, Google it.
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