Consumers who signed up will get an email with "further steps you must take to get your benefits," the FTC states. Those who filed after that date already are being asked to confirm they have credit monitoring.
The Equifax settlement was announced July 22 and the official settlement website, www.equifaxbreachsettlement.com, started accepting claims July 25. The deadline to file a claim is Jan. 22, 2020.
The credit-reporting company has agreed to pay between $575 million and $700 million to settle state and federal investigations related to a massive security incident that exposed the personal information of more than 147 million Americans two years ago.
Originally, consumers were told they could receive free credit monitoring for 10 years or up to $125.
But on July 31, the FTC warned that the payouts would be "nowhere near the $125 they could have gotten if there hadn’t been such an enormous number of claims filed."
"The public response to the settlement has been overwhelming. Because the total amount available for the alternative compensations is $31 million, each person who takes the money option is likely to get a very small amount," the FTC explains in frequently asked questions
Filing a claim or amending one.
To confirm you're eligible to file a claim, enter your last name and the last six digits of your Social Security number at www.equifaxbreachsettlement.com or call the Settlement Administrator at 1-833-759-2982.
You can file online or by mail. If you file by mail, you can download and print the claim form,fill it out and mail it with any supporting documentation.
You also can request a claim form be mailed to you by calling 1-833-759-2982 or emailing info@EquifaxBreachSettlement.com.
If you already filed a claim for cash, you can switch to the free credit monitoring but "must verify or amend your claim before October 15, 2019," the FTC says. To do this, go to the “I would like to…” menu on the settlement website.
Other options from Equifax settlement.
Starting next year, all Americans will be entitled to six free Equifax credit reports each year for seven years. This can help you monitor any illegal activity. All U.S. consumers are entitled to get free identity theft recovery services for the next seven years.
If you spent time or money dealing with an ID theft issue that occurred after the breach and involved personal data that was exposed by the hack, you can recoup those costs up to $20,000 per person. Such costs include losses from unauthorized charges, fees to freeze your credit report and fees paid to an accountant or attorney.
Consumers are also eligible to get $25 per hour for time spent dealing with the breach's aftermath, up to 20 hours.
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