How to claim a 2nd payment from the Equifax data breach settlement
Equifax has started alerting people of more money waiting for them from a massive fund the credit reporting agency paid to settle a data breach.
(NEXSTAR) – Equifax has started alerting people of more money waiting for them from a massive fund the credit reporting agency paid to settle a data breach.
The data breach, announced back in 2017, affected roughly 147 million people and was one of the largest ever. The “staggering” amount of data that hackers were able to access included Social Security numbers, birth dates, addresses, driver license numbers and credit card numbers, according to the Federal Trade Commission.
As part of the settlement, Equifax agreed to put at least $380.5 million into a restitution fund. Once those funds were depleted, they agreed they would pay an additional $125 million to cover people's out-of-pocket losses.
The first round of settlement payments went out in late 2022, but there was money left over. This month, the settlement administrator started notifying people that they'd receive another piece of the fund.
The notifications are coming out this week to alert each recipient of their additional settlement.
To claim your second payment, check your email for a message with the subject line "Equifax Data Breach Settlement Additional Pro Rata Payment" and make sure it's from the legitimate, FTC-verified sender.
The exact amount you get depends on how impacted you were by the data breach. Those who had to spend time dealing with fraud or freezing their credit were eligible for more.
But most people shouldn't hold out hope for a big payday. People who received the virtual gift card this week have shared the amounts on social media, and they generally appear to be less than $40. Some reported receiving as little as $2.39.
Once you receive the notice, you can follow the instructions to redeem an online prepaid debit card, which can be used anytime in the next two years. You'll need to enter your name, address, and contact information to get the payment.
Additional instructions are available on www.EquifaxBreachSettlement.com.
Consumers can check here to see if their information was impacted; Equifax is offering free identity restoration services for at least seven years after the settlement date of Jan. 11, 2022.
All U.S. consumers are also allotted seven free Equifax credit reports per year through 2026 via the website www.annualcreditreport.com.
What's Your Reaction?
