You can learn more about consumer topics and file a consumer complaint online or by calling 1-877-FTC-HELP (382-4357). The Federal Trade Commission works to promote competition, and protect and educate consumers. Consumers can also contact the settlement administrator directly.Ĭonsumers can find out more about the settlement at ftc.gov/Equifax.
#EQUIFAX SETTLEMENT PAYMENT FREE#
For consumers who have already chosen the cash option, the settlement administrator will e-mail those consumers and provide them with the opportunity to either (1) submit additional information, or (2) switch to the free credit monitoring service. Because the amount of money set aside for the cash payment option is capped at $31 million, consumers who select that option may not receive the $125 they had expected.įor those who have not submitted a claim, the FTC is recommending that affected consumers consider choosing the free credit monitoring service, which is worth hundreds of dollars and comes with identity theft insurance and restoration services. The FTC blog post notes that the public response to the settlement has been overwhelming.
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. 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. A new FTC blog post notes that because of high interest in the alternative cash payment under the settlement, consumers who choose this option might end up getting far less than $125. The Federal Trade Commission is urging consumers affected by Equifax’s 2017 data breach to consider signing up for the free credit monitoring offered as part of the settlement. About the FTC Show/hide About the FTC menu items.News and Events Show/hide News and Events menu items.Advice and Guidance Show/hide Advice and Guidance menu items.What Equifax Customers Can Do Source: Reddit The settlement is ongoing and claims can still be made. Equifax also agreed to pay court costs and fines from the government. Competition and Consumer Protection Guidance Documents payouts of up to 20,000 apiece (capped in most cases to 125), free credit monitoring, and identity theft protection.
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