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You can also request up to seven free reports per year through Equifax until 2026. The Equifax breach affected 147 million customers and in July, Equifax agreed to pay $700 million, $380.5 million of which would be used as restitution fund for consumer compensation. A detailed description of these Business Practices Commitments is available in the Settlement Agreement, which is available here. Lots of people recently got an email or letter about free credit monitoring through the Equifax settlement. In response to the COVID-19 pandemic, the three nationwide credit reporting companies, Equifax, Experian, and Transunion, are currently offering free weekly access to your credit reports online at annualcreditreport.com . How much is the Equifax Settlement per person 2022? Digital Report Required fields are marked *. In order to ensure funds would be available for these priorities, the Settlement and Consent Orders initially limited claims for time spent and alternative compensation to a total of $62 million. So now, if you signed up for credit monitoring as part of that settlement, you can take a few steps to switch it on. For free credit monitoring, you will get an activation code with instructions by email or mail. Chief Judge Thomas W. Thrash Jr. of the U.S. District Court for the Northern District of Georgia is overseeing these lawsuits. The Settlement Administrator will decide if your claim for Out-Of-Pocket Losses is valid. Many of these payments are over $100. These lawsuits are known as In re: Equifax Inc. Explore guides to help you plan for big financial goals, Look up whether your data was impacted at www.EquifaxBreachSettlement.com under I would like to. Certain claims for Time Spent may also be made during the Extended Claims Period, up to a total cap of Time Spent during the Initial and Extended Claims Periodsof $38 million in claims. How do I check the status of my Equifax Settlement? Im not sure I was affected by the data breach. Have the credit monitoring benefits under the Settlement started? Equifax Data Breach occurred five years ago. Equifax denied any wrongdoing and no judgment or finding of wrongdoing was made. So now, if you signed up for credit monitoring as part of that settlement, you can take a few steps to switch it on. These services include: All Settlement Class Members may access Identity Restoration Services after January 11, 2022, even if you never make a claim from the Settlement. On September 7, 2017, the credit reporting agency Equifax admitted that one of its computer networks had experienced a data leak that exposed the personal data of 143 million customers, which later increased to 147 million. For instructions on how to get the free identity restoration services, call the settlement administrator at 833-759-2982. However, it generally does not provide the same level of protection as a freeze. Payments from Equifax settlement over 2017 data breach are going out - CNBC The settlement administrator is now examining time and out-of-pocket loss claims. If you have questions about the Settlement, or wish to receive a copy of the Settlement Agreement but do not have access to the Internet to download a copy online, you may contact the Settlement Administrator. Since so many people submitted claims, its probable that youll get far less money than the $125 cap on individual cash payments. Save my name, email, and website in this browser for the next time I comment. The deadline to file a claim for Out-of-Pocket Losses incurred during the Initial Claims Period was 1/22/2020. You are a Settlement Class Member if you are among the approximately 147million U.S. consumers identified by Equifax whose personal information was impacted by the Equifax Data Breach. Will my cash compensation be affected by the number of claims made by others?