You’re Entitled to $125 or More in the Equifax Breach Settlement

I’d forgotten that! Even more infuriating.

There’s a new (or maybe expanded) FAQ that covers this. Go to and scroll down to FAQS. Items 5 and 6 are particularly pertinent.

In one of the FAQs, it’s stated that the three-bureau credit monitoring services for up to 4 years will be provided by Experian, not Equifax, so at least there’s that. It also includes insurance coverage for identity theft and fraud.

The credit monitoring is worthless

I was thinking that, too, until I read that FTC FAQ and saw that it also includes $1,000,000 of identity theft protection.

I don’t know the details of what that covers, but if it’s like other services it should help you cover expenses if your identity is stolen, which is significant, and that service isn’t free.

I hope, Dennis, that, eventually, we’ll get to the point where major ignorance will mean jail time for those in charge. Just like a doctor may go to jail if they’re fond responsible for major malpractice, a C-level IT pro should get jail time if their company experiences a massive data breach like Equifax or CapOne did.

Then again, as @jcenters mentioned, the FTC seemed more obliged to “save” Equifax than define a fine that actually benefits the victims of this breach. I don’t consider that surprising at all, what with our current government’s affinity to “business” in general, but it’s infuriating nonetheless.

As for claiming the monetary reimbursement, I wonder if it’s actually worth one’s time.

Although I originally started thinking about this when trying to decide whether to risk a parking ticket or driving around some more to find an empty spot, I’ve put a monetary value on my time.

In other words, an hour of my time is worth $X to me. If whatever value I get in return for an hour’s time, is not at least in the range of those $X, I’d rather go read a book, listen to some music — or write a post on TidBITS Talk. :slight_smile:

Considering that, as @rufo mentioned, the payout could be just a handful of Dollars, I’m quite sure that I’d get more value out of signing up for identity theft protection. Even if that means less work for Equifax to handle my request.

When I told my husband about this, he said the only ones who make any money are the lawyers. Apparently, he is right.

Well, the only individuals to make any money will be the lawyers, although just in terms of how much money they’d make for working in general. I wonder how the states and the CFPB will use their combined $275 million. Oh, and Experian will make money on providing the credit reporting. Equifax pays the attorneys’ fees separately from the rest of the settlement:

Defendant waives any claim that it may have under the Equal Access to
Justice Act, 28 U.S.C. § 2412, concerning the prosecution of this action
through the date of this Order, and agrees to bear its own costs and
attorneys’ fees.

If you requested money in lieu of credit monitoring, you likely have an email from Equifax demanding that you verify your existing credit monitoring or forfeit your cash settlement. FYI.

I got it on Sat. Responded yesterday. They mentioned about three times that the settlement reward could be substantially less than $125 depending on how many people file claims. It’s almost as if they’re trying to tell people “don’t even bother”.

True, but you also get a chance to ”amend your claim to request free credit monitoring instead of alternative compensation.”