Finally, some good news for those affected by the massive 2017 Equifax data breach. If you filed a claim, checks and prepaid cards are now being sent out! Payments began on November 7, 2024, and will continue through December 20, 2024. Here’s what you need to know about how much you might get, when to expect it, and how to avoid scams.
What Happened with the Equifax Settlement?
Back in 2017, Equifax suffered one of the largest data breaches in history, exposing the personal information of 147 million Americans. Social Security numbers, addresses, and credit details were all compromised. After facing numerous lawsuits, Equifax agreed to a $425 million settlement to compensate affected individuals. The deadline to file claims was January 22, 2024.
How Will Payments Be Sent?
- Method of Payment: Claimants will receive their payments either as a check in the mail or a prepaid card.
- Timing: Payments started going out on November 7, 2024, and the final round will be distributed by December 20, 2024.
- Amount: The amount varies based on what you claimed. If you opted for cash compensation or reimbursement for breach-related costs, your payment will reflect that.
How to Identify Your Payment
Keep an eye out for official communications from [email protected] or similar addresses. If you receive a prepaid card, follow the activation instructions promptly to access your funds. Be cautious of scams—Equifax or the settlement administrator will never ask for sensitive information via email or text.
Missed the Claim Deadline?
Even if you didn’t file a claim, there’s still help available. Equifax offers free identity restoration services to anyone impacted by the breach until January 2029. Use the Federal Trade Commission’s (FTC) online tools to check if you qualify.
What Should You Do Now?
Double-check your mail and email to make sure you don’t miss your payment. If you receive a prepaid card, activate it quickly to avoid fees for inactivity. Stay vigilant and report any suspicious activity to the settlement administrator or the FTC.
The Bottom Line
Payments are finally reaching claimants, but this is also a prime time for scammers to take advantage. Stay informed, be cautious, and for all official updates and information.
