In 2017, a data breach at Equifax exposed the private information of 147 million Americans, marking one of the largest data security failures in history. Now, affected individuals who previously filed valid claims may be eligible for additional settlement payments due to leftover funds from the $425 million settlement. Here’s everything you need to know about these new payments and how they’re being distributed.
Table of Contents
The 2017 Data Breach and Subsequent Settlement
In September 2017, Equifax announced that its systems had been compromised, exposing sensitive personal data like Social Security numbers, birthdates, and financial information.
The breach triggered widespread legal action, with the Federal Trade Commission (FTC), the Consumer Financial Protection Bureau (CFPB), and 50 U.S. states and territories filing a class-action lawsuit against Equifax. In July 2019, Equifax agreed to a global settlement of up to $425 million to compensate affected individuals.
The final deadline to file claims for compensation was January 22, 2024, and eligible claimants were reimbursed for:
- Out-of-pocket costs related to identity theft or fraud.
- Time spent addressing issues caused by the breach.
- Alternative compensation ($125) for those who opted out of Equifax’s credit monitoring services.
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Why Are Additional Payments Being Sent?
Recently, many claimants received notifications about new settlement payments, prompting questions about their validity. The FTC and the official Equifax settlement website confirm that these additional payments are legitimate.
Here’s why:
- Some of the settlement funds remain unused because certain claimants did not cash their checks or failed to provide necessary tax information.
- According to the settlement agreement, leftover funds cannot revert to Equifax. Instead, they must be distributed among eligible claimants.
As a result, additional payments are being issued to those who previously received compensation.
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Who Is Eligible for Additional Payments?
Only individuals who:
- Filed a valid claim before the January 22, 2024, deadline, and
- Previously received a payment for Time Spent or Alternative Compensation,
are eligible for the pro rata additional payments.
How Payments Will Be Sent
The settlement administrator began distributing prepaid cards in November 2024. These cards will be sent via email from:
Claimants should check their email (including spam folders) for notices.
Services for All Affected Customers
Even if you didn’t file a claim, Equifax is still offering:
- Free identity restoration services
- Credit monitoring services
These services are available to all affected customers in the U.S., regardless of whether they participated in the settlement.
What You Should Do Next
If you’re eligible for additional payments:
- Watch your email for a notification about the prepaid card.
- Ensure that the email comes from one of the official addresses listed above.
- Redeem your prepaid card promptly to avoid delays.
For further details, visit the official Equifax settlement website or contact the settlement administrator.
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Key Takeaway
The Equifax data breach settlement is still benefiting affected individuals even years later. If you were impacted by the breach and filed a claim, keep an eye out for your additional payment. Meanwhile, Equifax continues to provide free identity protection services to help mitigate the risks of this historic security breach.
AM I eligible
I spoke to the Administrator be told me i needed to contact Equifax so it was a dog and pony show that took my 750 to a 605 and I’ve never not paid off every bill I’ve ever owed. To then what never very my settlement money like for real? Got to be a joke somewhere..
I didn’t get the first one