In 2017, Equifax revealed a massive data breach that impacted approximately 147 million people, exposing sensitive information such as Social Security numbers, birth dates, driver’s license numbers, and credit card details.
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The fallout led to a settlement where Equifax agreed to pay at least $380.5 million to a restitution fund, with an additional $125 million earmarked for out-of-pocket losses if the initial funds were exhausted.
Fast forward to today, and there’s good news for affected individuals: a second round of payments is now being distributed.
$16 Million Capital One Settlement: Are You Eligible for a Payment or Credit?
How to Claim Your Second Payment
1. Watch for Notification Emails
Settlement administrators are sending notifications with the subject line:
“Equifax Data Breach Settlement Additional Pro Rata Payment.”
Make sure the email is from a legitimate source verified by the Federal Trade Commission (FTC).
2. Verify the Amount You’re Owed
The exact amount varies depending on how much you were impacted by the breach. Those who experienced identity theft, fraud, or had to freeze their credit are eligible for higher payouts.
- Payments in this second round are modest, with most recipients reporting amounts under $40.
- Some payouts are as small as $2.39 based on shared experiences on social media.
3. Redeem Your Payment
The payment comes in the form of an online prepaid debit card that you can use over the next two years. To claim your card:
- Follow the link in the notification email.
- Provide your name, address, and contact information as required.
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Additional Resources and Services
Identity Restoration Services
Equifax is offering free identity restoration services to affected individuals for seven years following the settlement date of January 11, 2022.
Free Credit Reports
All U.S. consumers can access up to seven free Equifax credit reports annually through 2026. To claim your reports, visit:
www.annualcreditreport.com
What’s Next?
If you suspect you were impacted by the breach and haven’t yet received notification of your settlement, you can:
- Check if your information was affected by visiting the official settlement website:
www.EquifaxBreachSettlement.com. - Stay vigilant about potential scams. Ensure any communication you receive is from verified sources.
Equifax Data Breach Settlement: Amount, Deadlines and Compensation
The Bottom Line
The Equifax data breach settlement’s second round of payments may not bring life-changing sums, but it represents a step toward accountability and restitution. Take advantage of the available resources, claim your payment, and ensure you’re informed about identity restoration services to safeguard your financial future.
Act now to secure your settlement funds before the window closes!
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