Summary of the Equifax Data Breach Settlement

Edited by Hannah Locklear

After five years, Equifax victims are finally beginning to receive updates about their upcoming settlement payments for the massive breach five years ago. Class-action settlement recipients were notified by February 25, 2022, about their eligibility and payment options through emails sent by the claim's administrator. You may have a ticket for free credit monitoring for four years if you receive this email.

Here's a summary of what to expect. But first,

A brief history of Equifax's data breach settlement

In September 2017, Equifax announced that 147 million people's personal information had been compromised. Approximately 50 U.S. states and territories and the Federal Trade Commission reached a global settlement with the company.

Following the event, up to $425 million was allocated to help affected individuals. Names, addresses, dates of birth, Social Security Numbers, and credit card number details contained in that data could be used for identity theft.

The FTC alleged Equifax's lax security contributed to the breach in a court case in 2019. As part of the settlement, Equifax agreed to the following:

• Up to $20,000 in payouts (limited in most cases to $125)
• Monitoring your credit for free
• Protection against identity theft
• Compensate the government for court costs and fines

Quite a bit of money, huh? How much is my share?

Here's where the action slows down a little. There were a lot of claimants, so the payouts were capped at $125 per person, but you may receive less. The payment has yet to begin, and the deadline for filing claims is January 22, 2024. Payouts are to start soon after.

The following expenses may still be claimed if they are incurred between January 23, 2020, and January 22, 2024:

• Account losses from unauthorized charges.
• Professional fees you pay to recover from identity theft, such as accountants or attorneys.
• Incurred notary fees, shipping charges, mileage, and phone calls while recovering from identity theft.
• The time you spent recovering from identity theft or fraud.

Timeline of Equifax settlements

You can find the most recent version of the lawsuit here, which describes the specific legal claims alleged by the plaintiffs. But here is a summary of the timeline:

• July 2019: The Federal Trade Commission announces Equifax has agreed to pay at least $575 million, with the possibility of paying up to $700 million.January 2020: The court approves the Settlement (FTC)
• Settlement amount: It will cost $425 million to settle Equifax's breach.
• January 2022: Finalization of the FTC settlement
• February 2022: Consumers who opt for free credit monitoring services receive activation codes from the settlement administrator. (Equifax Breach Settlement)
• Fall 2022: The settlement administrators are releasing benefits to consumers for eligible out-of-pocket expenses related to the data breach or identity theft resulting from the breach, as well as time spent recovering from the data breach (up to 20 hours). An individual who lost money because of identity theft may be eligible to receive up to $20,000. (Equifax Breach Settlement)

Is the settlement applicable to me?

An Equifax Data Breach settlement class member is an individual who was among the approximately 147 million U.S. consumers impacted by the Equifax data breach. To verify whether you are a Settlement Class Member and eligible for benefits, you can:

Go here: www.EquifaxBreachSettlement.com

Call the Settlement Administrator toll-free at 1-833-759-2982.

If you have used more than one last name (a maiden name and a married name), please check them when using the above link. Your claim form should be submitted using the last name that received the "impacted" message.

The settlement excludes the following:

• Directors and officers of Equifax.
• Those involved in the lawsuit, including the presiding judge and judicial staff.
• Validly opted-out Class Members

How Equifax data breach settlement benefits you:

The breach may have affected you somehow, and you may qualify for benefits.

1. Cash Payment or Free Credit Monitoring

For at least four years, you will receive free credit monitoring from all three credit bureaus (Equifax, Experian, and TransUnion). As a bonus, you will also be able to monitor your Equifax credit report for a further six years for free. This means you'll be able to monitor your credit for ten years. (Even more free credit monitoring is available to minors affected by the breach.)

You may be eligible for money if you maintain credit monitoring for a minimum of six months without enrolling in the settlement's free credit monitoring. You'll get a payout based on how many claims are filed.

2. Payback of your time and other cash payments

A reimbursement and cash payment of up to $20,000 may be available for the following:

• You can claim up to 20 hours that you spent protecting your identity or recovering from identity theft at a rate of $25 per hour.
• Expenses incurred to protect your identity or recover from identity theft, such as freezing or unfreezing your credit report or charging accounts without your permission.
• If you purchased Equifax credit monitoring or identity protection products between September 7, 2016, and September 7, 2017, you could get up to 25% of the cost back.

3. Free restoration of your identity

If your identity is stolen or you experience fraud, you are eligible for free identity restoration services for at least seven years.

Equifax data breach settlement developments

As part of the settlement process, the settlement administrators are reviewing time spent and losses incurred. Your administrator will contact you by email or letter if your claim requires additional information. Equifax Breach Settlement Administrator will send legitimate emails about the settlement from info@equifaxbreachsettlement.com.

The settlement administrator also provides additional payment options through email to those eligible for a settlement payment. Please follow the email instructions if you want to change your payment method. As long as you do nothing, you'll receive your compensation according to the method you selected when you made your claim.

If you were affected by the breach, use the look-up tool to confirm your eligibility. You can get free help with identity restoration by calling the phone and engagement numbers on the confirmation page. Until 2026, consumers can get seven free Equifax credit reports from https://www.annualcreditreport.com/.

What is SoloSuit?

SoloSuit makes it easy to fight debt collectors.

You can use SoloSuit to respond to a debt lawsuit, to send letters to collectors, and even to settle a debt.

SoloSuit's Answer service is a step-by-step web-app that asks you all the necessary questions to complete your Answer. Upon completion, we'll have an attorney review your document and we'll file it for you.

>>Read the FastCompany article: Debt Lawsuits Are Complicated: This Website Makes Them Simpler To Navigate

>>Read the NPR story on SoloSuit. (We can help you in all 50 states.)

How to answer a summons for debt collection in your state

Here's a list of guides for other states.

All 50 states.

• Alabama
• Alaska
• Arizona
• Arkansas
• California
• Colorado
• Connecticut
• Delaware
• Florida
• Georgia
• Hawaii
• Idaho
• Illinois
• Indiana
• Iowa
• Kansas
• Kentucky
• Louisiana
• Maine
• Maryland
• Massachusetts
• Michigan
• Minnesota
• Mississippi
• Missouri
• Montana
• Nebraska
• Nevada
• New Hampshire
• New Jersey
• New Mexico
• New York
• North Carolina
• North Dakota
• Ohio
• Oklahoma
• Oregon
• Pennsylvania
• Rhode Island
• South Carolina
• South Dakota
• Tennessee
• Texas
• Utah
• Vermont
• Virginia
• Washington
• West Virginia
• Wisconsin
• Wyoming

Guides on how to beat every debt collector

Being sued by a different debt collector? Were making guides on how to beat each one.

• Absolute Resolutions Investments LLC
• Accredited Collection Services
• Alliance One
• Amcol Clmbia
• American Recovery Service
• Asset Acceptance LLC
• Asset Recovery Solutions
• Associated Credit Services
• Autovest LLC
• Cach LLC
• Cavalry SPV I LLC
• Cerastes LLC
• Colinfobur
• Covington Credit
• Crown Asset Management
• CTC Debt Collector
• Cypress Financial Recoveries
• Delanor Kemper & Associates
• Eagle Loan of Ohio
• Educap
• Estate Information Services
• FIA Card Services
• Forster & Garbus
• Freshview Solutions
• Fulton Friedman & Gullace LLP
• Harvest Credit Management
• Howard Lee Schiff
• Hudson & Keyse LLC
• Integras Capital Recovery LLC
• Javitch Block
• Jefferson Capital Systems LLC
• LVNV Funding
• Mannbracken
• Mariner Finance
• Medicredit
• Michael J Adams PC
• Michael J Scott
• Midland Funding LLC
• Mullooly, Jeffrey, Rooney & Flynn
• Mountain Land Collections
• MRS Associates
• National Collegiate Trust
• Nationstar Foreclosure
• Northstar Capital Acquisition
• NCEP LLC
• NRC Collection Agency
• OneMain Financial
• Palisades Collection LLC
• Pallida LLC
• Paragon Revenue Group
• Pinnacle Collections Agency
• PMAB LLC
• Portfolio Recovery Associates
• Provest Law
• PYOD LLC
• Reunion Student Loan Finance Corporation
• Revenue Group
• Regents and Associates
• RSIEH
• Salander Enterprises LLC
• Second Round Sub LLC
• Security Credit Services
• Sherman Financial Group
• Suttell and Hammer
• T-Mobile
• Transworld Systems
• Tulsa Teachers Credit Union
• UCB Collection
• Velo Law Office
• Velocity Investments
• Waypoint Resource Group
• Weinberg and Associates
• Wolpoff & Abramson

Win against credit card companies

Is your credit card company suing you? Learn how you can beat each one.

• Bank of America
• Capital One
• Chase
• Credit One Bank
• PayPal Synchrony Card
• SYNCB/PPEXTR
• Synchrony Bank
• Target National Bank
• Wells Fargo

Going to Court for Credit Card Debt — Key Tips

How to Negotiate Credit Card Debts

How to Settle a Credit Card Debt Lawsuit — Ultimate Guide

Get answers to these FAQs

Need more info on statutes of limitations? Read our 50-state guide.

Why do debt collectors block their phone numbers?

How long do debt collectors take to respond to debt validation letters?

What are the biggest debt collector companies in the US?

Is Zombie Debt Still a Problem in 2019?

SoloSuit FAQ

If a car is repossessed, do I still owe the debt?

Is Portfolio Recovery Associates Legit?

Is There a Judgment Against Me Without my Knowledge?

Should I File Bankruptcy Before or After a Judgment?

What is a default judgment?— What do I do?

Summoned to Court for Medical Bills — What Do I Do?

What Happens If Someone Sues You and You Have No Money?

What Happens If You Never Answer Debt Collectors?

What Happens When a Debt Is Sold to a Collection Agency

What is a Stipulated Judgment?

What is the Deadline for a Defendants Answer to Avoid a Default Judgment?

Can a Judgement Creditor Take my Car?

Can I Settle a Debt After Being Served?

Can I Stop Wage Garnishment?

Can You Appeal a Default Judgement?

Do I Need a Debt Collection Defense Attorney?

Do I Need a Payday Loans Lawyer?

Do student loans go away after 7 years? — Student Loan Debt Guide

Am I Responsible for My Spouses Medical Debt?

Should I Marry Someone With Debt?

Can a Debt Collector Leave a Voicemail?

How Does Debt Assignment Work?

What Happens If a Defendant Does Not Pay a Judgment?

How Does Debt Assignment Work?

Can You Serve Someone with a Collections Lawsuit at Their Work?

What Is a Warrant in Debt?

How Many Times Can a Judgment be Renewed in Oklahoma?

Can an Eviction Be Reversed?

Does Debt Consolidation Have Risks?

What Happens If You Avoid Getting Served Court Papers?

Does Student Debt Die With You?

Can Debt Collectors Call You at Work in Texas?

How Much Do You Have to Be in Debt to File for Chapter 7?

What Is the Statute of Limitations on Debt in Washington?

How Long Does a Judgment Last?

Can Private Disability Payments Be Garnished?

Can Debt Collectors Call From Local Numbers?

Does the Fair Credit Reporting Act Work in Florida?

The Truth: Should You Never Pay a Debt Collection Agency?

Should You Communicate with a Debt Collector in Writing or by Telephone?

Do I Need a Debt Negotiator?

What Happens After a Motion for Default Is Filed?

Can a Process Server Leave a Summons Taped to My Door?

Learn More With These Additional Resources:

Need help managing your finances? Check out these resources.

How to Make a Debt Validation Letter - The Ultimate Guide

How to Make a Motion to Compel Arbitration Without an Attorney

How to Stop Wage Garnishment — Everything You Need to Know

How to File an FDCPA Complaint Against Your Debt Collector (Ultimate Guide)

Defending Yourself in Court Against a Debt Collector

Tips on you can to file an FDCPA lawsuit against a debt collection agency

Advice on how to answer a summons for debt collection.

Effective strategies for how to get back on track after a debt lawsuit

New Hampshire Statute of Limitations on Debt

Sample Cease and Desist Letter Against Debt Collectors

The Ultimate Guide to Responding to a Debt Collection Lawsuit in Utah

West Virginia Statute of Limitations on Debt

What debt collectors cannot do — FDCPA explained

Defending Yourself in Court Against Debt Collector

How to Liquidate Debt

Arkansas Statute of Limitations on Debt

Youre Drowning in Debt — Heres How to Swim

Help! Im Being Sued by My Debt Collector

How to Make a Motion to Vacate Judgment

How to Answer Summons for Debt Collection in Vermont

North Dakota Statute of Limitations on Debt

ClearPoint Debt Management Review

Indiana Statute of Limitations on Debt

Oregon Eviction Laws - What They Say

CuraDebt Debt Settlement Review

How to Write a Re-Aging Debt Letter

How to Appear in Court by Phone

How to Use the Doctrine of Unclean Hands

Debt Consolidation in Eugene, Oregon

Summoned to Court for Medical Bills? What to Do Next

How to Make a Debt Settlement Agreement

Received a 3-Day Eviction Notice? Heres What to Do

How to Answer a Lawsuit for Debt Collection

Tips for Leaving the Country With Unpaid Credit Card Debt

Kansas Statute of Limitations on Debt Collection

How to File in Small Claims Court in Iowa

How to File a Civil Answer in Kings County Supreme Court

Roseland Associates Debt Consolidation Review

How to Stop a Garnishment

Debt Eraser Review

Do Debt Collectors Ever Give Up?

Can They Garnish Your Wages for Credit Card Debt?

How Often Do Credit Card Companies Sue for Non-Payment?

How Long Does a Judgement Last?

​​How Long Before a Creditor Can Garnish Wages?

How to Beat a Bill Collector in Court