Equifax data breach settlement
In 2017, Equifax announced a breach that exposed the personal data of approximately 147 million people. Payments for claims filed for out-of-pocket losses, time spent, and other cash benefits are now being sent. If you filed a claim, keep an eye out for your payment.
Status of financial reimbursement
Cash reimbursements have been sent to people who submitted requests for payment.
Under the Equifax Data Breach Order, leftover funds are used to reimburse people who have valid claims. If you submitted a valid claim, you could receive an extra payment.
Watch your e-mail for a notification of your payment
You will get an e-mail confirming you have a valid claim and are receiving additional money.
The money will be sent by electronic prepaid card. In November 2024, watch for an email from distribution@EquifaxBreachSettlement.com with instructions on how to redeem your card.
For more information, please visit www.EquifaxBreachSettlement.com .
Steps you can take to protect yourself
Check your credit reports on your own
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 . You can also request up to seven free reports per year through Equifax until 2026.
According to a Federal Trade Commission study, one person in five finds an error in their credit reports. When you check yours, be prepared to take steps to fix incorrect information. Our information on credit reports and sample dispute letters can help you with this process.
Consider placing an initial fraud alert on your credit file
Another way to protect your credit proactively is to place a fraud alert on your file. To do this, you can contact any of the three credit reporting companies. The credit reporting company you make the report to must communicate your alert to the other two credit reporting companies.
An initial fraud alert requires lenders to take reasonable steps to make sure the person making new credit requests in your name is actually you. For example, they may call you if you’ve provided a telephone number on your credit file. An initial fraud alert lasts for one year.
Consider freezing your credit
One way to protect your credit proactively is to contact the three credit reporting companies and place a freeze on your credit. When you freeze your credit, lenders won’t be able to access your credit information. If you apply for things like employment, apartments, or insurance, necessary credit checks can still go through.
You can unfreeze your credit when you’re ready to seek a loan or another transaction that requires a lender to pull your credit report. You’re the only one who can request to lift the credit freeze on your file. Lifting a freeze can take time, so choose this approach only if you’re not currently thinking about taking out a new loan or credit account.