The notice from Equifax drew fire from many consumers, who took to social media to complain about the request.
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Consumers may also amend their claim to ask for free credit monitoring rather than the cash, according to the email. So thats about 1.7 million left out there,' Rokita said. 'We have about 22,000 people that didnt cash their checks the first go-around. Now, the money is being sent again as a prepaid Mastercard debit card. Failure to provide that proof by the deadline will result in a claim being denied, according to copies of the email posted on social media. While payments began going out in 2021, not everyone claimed their digital payment or cashed the check. Among the benefits available to consumers affected by the breach is free credit monitoring services or, alternatively, a cash payment if they already have credit monitoring. Many consumers received an email on Sunday alerting them that, to collect payment, they must provide proof of enrollment for credit monitoring services by October 15. The settlement with Equifax announced on July 22 included at least 300 million and potentially up to 425 million to help consumers recover from the breach. Now the credit reporting company is making people who are submitting a claim jump through one last hoop.
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Yet consumers might not receive the full $125 because the cash award could be reduced depending on the number of claims.Įquifax dangled an enticing offer for the 148 million consumers impacted by its massive 2017 data breach: a $125 cash payment.The company also has to pay government fines and legal fees. The deadline to verify such claims is October 15. Under the settlement terms, Equifax agreed to set up a fund to provide free credit monitoring and identity theft protection to consumers, as well as provide cash payments to people affected by the breachup to 20,000 per person. Home Key Dates Important Documents FAQs I Would Like To.
Consumer Financial Protection Bureau (CFPB) up to 700 million to settle investigations into the data breach by 48. Equifax agreed that year to a settlement, which included: payouts of up to 20,000 apiece (capped in most cases to 125), free credit monitoring, and identity theft protection. On July 22, Equifax agreed to pay the U.S. Equifax wants consumers to verify they already have credit monitoring services, a requirement for collecting a $125 cash payment in compensation for the credit bureau's massive 2017 data breach. In a 2019 court case, the FTC alleged that Equifax was at fault over the breach, due to lax security.Massive Equifax payout: Are you eligible for compensation? 03:39
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