Equifax Data Breach Settlement: Amount, Deadlines and Compensation

Equifax Data Breach Settlement: Amount, Deadlines and Compensation

In September 2017, Equifax disclosed a massive data breach affecting approximately 147 million people. Personal information, including Social Security numbers, addresses, and financial data, was exposed. A class action lawsuit followed, leading to a Settlement approved by a federal court. While Equifax denied any wrongdoing, the Settlement has provided options for impacted individuals to seek reimbursement or compensation.


Here’s an overview of the Settlement, its benefits, and what deadlines have passed.


Initial Claims Period: Deadlines and Compensation

The Initial Claims Period allowed affected individuals to file claims for:

  1. Free Credit Monitoring Services or
  2. Cash Payments of Up to $125 (alternative compensation).

The deadline to file claims during this period passed on January 22, 2020.

If you requested cash benefits, the final amount distributed may be significantly reduced due to the overwhelming number of valid claims submitted. Compensation has been prorated, meaning recipients might only receive a small percentage of their initial claim.


Extended Claims Period: Additional Reimbursement Opportunities

The Extended Claims Period provided further opportunities for class members to seek reimbursement for specific losses or time spent addressing issues stemming from the data breach.

Eligibility Criteria

To qualify, you must have experienced:

  1. Out-of-Pocket Losses or
  2. Time Spent resolving issues caused by the data breach between January 23, 2020, and January 22, 2024.

Reimbursement Benefits

Eligible class members could file claims for:

  • Time Spent: Up to 20 hours recovering from identity theft, fraud, or other misuse of personal information caused by the breach, reimbursed at $25 per hour.
  • Out-of-Pocket Losses: Up to $20,000 for expenses incurred directly due to the data breach, including legal fees, fraudulent charges, and costs for credit repair.

Important Note: You must certify that you did not receive reimbursement for these losses through other means.

The deadline to file an Extended Claims Period claim passed on January 22, 2024.


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Current Status of the Settlement

The Equifax data breach Settlement is now effective. All claim deadlines have passed, and compensation is being distributed to eligible class members. The amount received will depend on:

  • The number of valid claims filed.
  • The total funds allocated to the Settlement.

Key Points

  • Compensation for time spent and alternative cash benefits may be significantly reduced due to high demand.
  • Reimbursement for Out-of-Pocket Losses during the Extended Claims Period was capped at $20,000 per individual.

What to Do if You Missed the Deadline

If you didn’t file a claim by the deadlines, you are no longer eligible for reimbursement or compensation under this Settlement. However, you may still take steps to protect your information, including monitoring your credit and watching for fraudulent activity.


For further details, visit the official Equifax data breach Settlement website or contact the Settlement Administrator.

2 Comments

  1. In 2017 Equifax my whole identity was stolen I can’t even go out and buy a car and then for you to send a little check I think you owe people more than that because we can never get our credit right and Equifax was a fault of it that date of bridge and back in 2017 they stole my whole identity now I’m going through it again that insurance should change Healthcare by United Healthcare my heart dentist been stolen again I can’t even get a credit card I can’t even buy a house if I wanted to Equifax you need to pay people to damage not you need to pay us a good amount of money cuz our whole identity my whole identity has been stolen white out I can’t even if I wanted to I couldn’t even go and try to get a credit card because of Equifax and now because of the United Healthcare

    • This has made my life a total disaster. I need to hire attorney to fight back for another incident with another bank taking over my trust line. I cannot get a loan over 300.00 . What and how much I can do with 300.00 . And all this company gets is a tap on the hand . This is so wrong in so many ways .

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