11/10/2023 0 Comments Equifax breach credit zeWe won’t post threats, defamatory statements, or suggestions or encouragement of illegal activity. We won’t post comments that include vulgar messages, personal attacks by name, or offensive terms that target specific people or groups.We won’t post off-topic comments, repeated identical comments, or comments that include sales pitches or promotions.We expect commenters to treat each other and the blog writers with respect. We review all comments before they are posted, and we won’t post comments that don’t comply with our commenting policy. But keep in mind, this is a moderated blog. Your thoughts, ideas, and concerns are welcome, and we encourage comments. The purpose of this blog and its comments section is to inform readers about Federal Trade Commission activity, and share information to help them avoid, report, and recover from fraud, scams, and bad business practices. This blog post was clarified on August 1, 2019. If you’re one of them, use your documents to submit your claim. The settlement has a larger pool of money for just those people. Say you had to pay for your own credit freezes after the breach, or you hired someone to help you deal with identity theft. Please also note that there is still money available under the settlement to reimburse people for what they paid out of their pocket to recover from the breach. And the settlement administrator has said that the claims website will soon be updated with that information, too. The email from the settlement administrator will tell you what to do next, in either case. 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.
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