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Home / Business / Still want $ 125 from Equifax? Consumers face another obstacle.

Still want $ 125 from Equifax? Consumers face another obstacle.



Initially, consumers whose private information was compromised in the huge Equifax data breach believed that they would receive at least $ 125.

Then the company said there was not enough money from the $ 700 million settlement for all $ 147 million affected consumers. Instead of earning the dollar, the Federal Trade Commission recommended that consumers accept a free credit monitoring offer instead.

But for those consumers who still wanted cash, there is a new obstacle.

Emails sent to hundreds of thousands of victims over the weekend say consumers now have to prove "that you had some form of credit monitoring or protection in place and will continue to have credit monitoring in place for at least six months from the date of filing of claims. " [1

9659002] So if you don't change your claim with proof that you hired a credit monitoring company, you can kiss the cash settlement.

Consumers have until October 15 to act or their claims will be rejected.

If you do not have the evidence, you also have before October 15 to change your requirement to accept free credit monitoring, something Equifax and the Federal Trade Commission have pushed consumers to do: give up the search for cash and instead see the lecturer free credit monitoring because they think there won't be enough money to go around.

"Based on the number of potentially valid claims made to date, disbursements of these benefits are likely to be significantly lowered and will be distributed proportionately if the settlement is final," the email states. "Depending on the number of valid claims filed, the amount you receive for alternative compensation may represent a small percentage of your original claim."

So whether you want to try money or free credit monitoring, you have to take another step.

You can log in to the Equifax settlement site to change your claim. The email address you received included a claim number, so be sure to keep it handy.

Your other option is to send a letter to the claims manager with the details of your case. You can send, along with your claim number and address, to Equifax Data Breach Settlement, c / o JND Legal Administration, PO Box 91318, Seattle, WA 98111-9418.

Have you been bamboozled? Reach Karin Price Mueller at Bamboozled@NJAdvanceMedia.com . Follow her on Twitter @KPMueller . Find Bamboozled on Facebook. Mueller is also the founder of NJMoneyHelp.com . Stay informed and sign up for NJMoneyHelp.com & # 39; s weekly email newsletter.


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