That figure is inclusive of any time claim. If you suffered monetary losses as a result of the Equifax data breach or if you have expenses related to the breach that had not been previously reimbursed, you may claim financial losses of up to $20,000. You may claim up to 20 hours of this kind of activity. That includes identity theft, fraud, or some other misuse of your personal information. If you are claiming more than 10 hours in total, you must supply documentation that shows actual adverse action as a result of the data breach. If you are claiming 10 hours or less, you only need to describe the activity that you engaged in and each time that you did so. placing and removing freezes on your credit profiles.avoiding fraud or identity theft because of the data breach.recovering from fraud or identity theft caused by the breach.Equifax will pay you $25 for hour for time that you spent: Section two allows you to claim money for time spent trying to recover from the data breach. If you’re all about the cash, you want to select option 2. You can certify that you have credit monitoring by signing up for such a free service. I have my alerts turned on and the second anything happens Credit Karma e-mails me. Credit Karma provides monitoring for free to your TransUnion and Equifax reports. If you have this service through your bank, credit cards, or even through a free service like Credit Karma this all qualifies. You do not need to have credit monitoring from the credit bureaus to qualify. This is where many people are discouraged if they are not already paying for credit monitoring services. If you would like to cash, you must certify that you have credit monitoring services already and that you will have it for at least six months from the date of your claim. If you want the credit monitoring, select option 1. Should you choose credit monitoring, it will be provided for an extended period first by Equifax competitor, Experian (which will provide monitoring at all three credit bureaus), and then extended monitoring through Equifax. You have the choice of credit monitoring or up to $125 if you already have credit monitoring. Section one is where you will choose how you would like to be reimbursed. You will be required to submit your contact information including your name, mailing address, phone number, e-mail address and year of your birth. If you would, however, like cash, we have a bit of work to do. If you would like six months of free credit monitoring, you do not need documentation and can just follow the screens for your claim. You may submit claims for cash payment (if you already have credit monitoring – more on that later), or for credit monitoring. Everyone else likely should complete their claims electronically. Note, you may only submit claims for minors via snail mail. If they were a minor on May 13, 2017, you will need to download a minor claim form and submit their claims that way. If is important that you check to see if your minor children were compromised as well. Should you need a form mailed to you, you may contact the settlement administrator to have a form mailed to you. You may do so electronically by clicking the “File A Claim” button or you may complete a paper claim form and submit it via snail mail. File Your Claim Electronically or Via Regular MailĮquifax gives you two ways to file your claim. If you were impacted, you will receive this screen. If you are affected, the site will let you know that you have been impacted and that you may file a claim for damages. You will be asked for your last name and the final six digits of your Social Security number. In order to begin your claim, let’s first determine if you were affected. Not sure how to submit your claim? No worries, we’re here to help you. Under the terms of the agreement, consumers may elect six months of credit monitoring or a cash reimbursement which begins at $125 and goes up to $20,000 per claimant. That is not expected to happen before January 2020, however, you may begin submitting claims for benefits under the settlement right now. The final figure will not be determined until the courts have certified the settlement amount. The settlement listed on the FTC site states that Equifax has agreed to claims of up to $425 million, however, media reports have listed that the settlement amount may reach as high as $700 million. If you were among the more than 145.5 million people whose information was compromised as a result of the Equifax data breach which took place in 2017, the FTC announced on July 21 that it has reached a settlement deal with Equifax, the Consumer Financial Protection Board, and all 50 states that are meant to compensate victims of this breach. Welcome back! Have you checked out the free webinar on how to establish credit for your small business?
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