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Home / Business / Equifax asks people not to take cash settlement because they can't afford to pay all they turned over – Raw Story

Equifax asks people not to take cash settlement because they can't afford to pay all they turned over – Raw Story



As part of Equifax's credit bureau's settlement with the government over their disastrous data breach that exposed 145 million people's social security numbers, those affected may file a claim for $ 125 or free credit monitoring.

But after people signed up for the $ 125 option in heaps, Equifax, along with the Federal Trade Commission, is now asking consumers not to choose that option – because they didn't allocate enough funds as part of the settlement to pay it amount to all:

The total size of the Equifax- The settlement is $ 650 million, which means that even if the entire amount of it was recovered – and only a fraction of it was set aside for this purpose – no one would receive more than a few dollars per piece.


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