Or, if you want to change your mind, you’ll have a chance to switch to the free credit monitoring. They’ll be asking you for the name of the credit monitoring service you already have. And this monitoring service is probably stronger and more helpful than any you may have already, because it monitors your credit report at all three nationwide credit reporting agencies, and it comes with up to $1 million in identity theft insurance and individualized identity restoration services.įor those who have already submitted claims for this cash payment, look for an email from the settlement administrator. Frankly, the free credit monitoring is worth a lot more – the market value would be hundreds of dollars a year. So, if you haven’t submitted your claim yet, think about opting for the free credit monitoring instead. Nowhere near the $125 they could have gotten if there hadn’t been such an enormous number of claims filed. A large number of claims for cash instead of credit monitoring means only one thing: each person who takes the money option will wind up only getting a small amount of money. But the pot of money that pays for that part of the settlement is $31 million. There’s also the option for people who certify that they already have credit monitoring to claim up to $125 instead. First, though, the good: all 147 million people can ask for and get free credit monitoring. The public response to the settlement has been overwhelming, and we’re delighted that millions of people have visited ftc.gov/Equifax and gone on to the settlement website’s claims form.īut there’s a downside to this unexpected number of claims. We’ve told you to go to ftc.gov/Equifax, where you can find out if your information was exposed and learn how to file a claim with the company in charge of the claims process. Just last week, the FTC and others reached a settlement with Equifax about its September 2017 data breach that exposed personal information of 147 million people. Identity Theft and Online Security Show/hide Identity Theft and Online Security menu items.Unwanted Calls, Emails, and Texts Show/hide Unwanted Calls, Emails, and Texts menu items.Money-Making Opportunities and Investments.Jobs and Making Money Show/hide Jobs and Making Money menu items.Credit, Loans, and Debt Show/hide Credit, Loans, and Debt menu items. Shopping and Donating Show/hide Shopping and Donating menu items.
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