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Why you might not get $ 125 from Equifax at all



PORTLAND, Ore. – We have some bad news about your chances of getting that $ 125 check through the Equifax settlement.

The company has agreed to pay $ 700 million after a security breach in 2017 exposed personal information to 147 million people in 2017.

You can see if you are affected by visiting the Equifax Data Breach Settlement page.

As KGW first reported last week, all affected consumers are eligible to receive free credit monitoring for up to 10 years.

If you already have credit monitoring, you can choose a cash alternative of $ 125.

According to the settlement details, however, there is not enough money to pay all the people affected by the breach.

Out of the $ 700 million settlement, $ 425 million was allocated to consumers and $ 31

million was designated for $ 125 cash.

That means there is enough money for just 248,000 people to get the full $ 125.

If all 147 million people file claims, that means each person gets only 21 cents.

If you still want to submit a claim, it only takes a few minutes and you have until January 22, 2020 to submit.

RELATED: How do I get my money from the Equifax settlement?

RELATED: Confirm: Are these BP settlement checks legitimate?

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