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Equifax data breach: How to determine if you are eligible for compensation

First thing first: Before you start spending extra money in your head, find out if you are one of the estimated 147 million Americans entitled to part of up to $ 425 million in compensation originating from Equifax's huge data breakage 2017. The credit reporting company this week agreed to pay $ 700 million for claims related to the hacking that occurred after Equifax received a software update.

Finding out the part is pretty simple. All you have to do is enter your last name and last six digits of your social security number on a site run by the settlement administrator (not Equifax). If you are told that your personal information was affected by the data theft, you may file a claim.

It's relative to do too. You can claim damages and upload any support documents online at https://www.equifaxbreachsettlement.com/. Chapter1

9659004 ?? If you would rather send your claim, you can download a designated form that can be completed and submitted with any supporting documents to:

Equifax Data Breach Settlement Administrator
c / o JND Legal Administration
PO Box 91318
Seattle, WA 98111-9418

Please note that claims on behalf of anyone under the age of 13 May 2017 must use this form and be sent by regular mail.

How much dough will you get?

Consumers affected by the data breach are entitled to up to 10 years of free monitoring of their credit reports. You can also sign up for at least four years of Surveillance Services provided by Experian at no cost, or if you already have credit monitoring underway, you can archive to be compensated for up to $ 125.

People who were injured in the cyber booklet may also require as much as $ 20,000 in cash refund for the expenses associated with the breach. These include fees for freezing or freezing down credit reports, as well as for credit monitoring services; losses from unauthorized charges to accounts; and any payments to lawyers and accountants.

You can claim up to 20 hours of breach violation. The good news here is that no document backing is required, and you can see replacement for the time you spend trying to recover from identity theft (or basically avoid it) at $ 25 an hour (maximum 10 hours).

Equifax pays up to $ 700 million for data intervention in 2017

The settlement site contains a page of answers to frequently asked questions, from basics to how the settlement reached how long it could take to get your money (the process can take months or more.)

The deadline for submitting a claim is January 22, 2020, for most benefits, and you will not receive anything until the Settlement Administrator receives a court order – it would be January 23, 2020, at the earliest. Do you want to keep up with the situation? Just sign up for email notifications from the FTC or call (833) 759-2982 for updates.

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