Equifax Data Breach Settlement - Free credit monitoring or $125 cash payment

[KidOOO]

That is how it looks like.

Interesting.

See this link seems clear credit monitoring doesn't need to be paid https://www.equifaxbreachsettlement.com/faq#q-10

[CountValentine]

See this link seems clear credit monitoring doesn't need to be paid https://www.equifaxbreachsettlement.com/faq#q-10

It is clear it does not say it needs to be paid for. You think their intention is to reimburse you for something you get for free.

[Medic97]

It is clear it does not say it needs to be paid for. You think their intention is to reimburse you for something you get for free.

No their intention is that they have $700M to distribute and they allocated a certain amount to monitoring. So better for it to be given to the end user then not spent. They could've said take monitoring or nothing.

Try to think cooperate not with the Yiddishe kop.

I also just noticed they are offering the 3 bureau service for 4 years. $125 won't cover that.

[CountValentine]

I also just noticed they are offering the 3 bureau service for 4 years. $125 won't cover that.

4 years plus 6 years of EQ.

[googwallet]

And the lawyers representing this case will walk away with 77.5 million. That's the biggest fraud here.

[ludmila]

And the lawyers representing this case will walk away with 77.5 million. That's the biggest fraud here.

Only in the USA

[Luvisrael]

https://nypost.com/2019/07/27/sorry-aoc-but-equifax-probably-wont-be-paying-people-125-apiece/

[sguitarist18]

Any thoughts as to whether, based on this, it's worth it to just go for the credit monitoring and insurance?

[CountValentine]

https://nypost.com/2019/07/27/sorry-aoc-but-equifax-probably-wont-be-paying-people-125-apiece/

The sad part is many here thought they would get $125. I guess they have more in common than they think.

[zh cohen]

https://nypost.com/2019/07/27/sorry-aoc-but-equifax-probably-wont-be-paying-people-125-apiece/

Those hoping to cash in on the massive Equifax settlement might be out of luck, thanks to AOC.

Can someone explain why it's "Thanks to AOC"?

[CountValentine]

Can someone explain why it's "Thanks to AOC"?

Easy target.

[LoLo]

Can someone explain why it's "Thanks to AOC"?

She tweeted it, i guess her audience wouldn't have otherwise seen this.

[CountValentine]

She tweeted it, i guess her audience wouldn't have otherwise seen this.

So do we also blame DDF? Is it on DDMS, twitter?

[username]

We only blame the people who publicize this after we found out about it.  Same like every deal.

[CountValentine]

We only blame the people who publicize this after we found out about it.  Same like every deal.

LESS IS MORE!!!

[stooges44]

Not surprising:

https://www.ftc.gov/enforcement/cases-proceedings/refunds/equifax-data-breach-settlement


5. I thought I could choose $125 instead of free credit monitoring. What happened?

The public response to the settlement has been overwhelming. Millions of people have visited this site in just the first week. Because the total amount available for these alternative payments is $31 million, each person who takes the money option is going to get a very small amount. Nowhere near the $125 they could have gotten if there hadn’t been such an enormous number of claims filed.

The free credit monitoring provides a much better value, and everyone whose information was exposed can take advantage of it. If your information was exposed in the data breach, and you file a valid claim before the deadline, you are guaranteed at least four years of free monitoring at all three credit bureaus (Equifax, Experian, and TransUnion) and $1,000,000 of identity theft insurance, among other benefits. The market value of this product is hundreds of dollars per year.

You can still choose the cash option on the claim form, but you will be disappointed with the amount you receive and you won’t get the free credit monitoring.

[yos9694]

Don't back down, another way this can go is that EFX gets ordered to increase the settlement amount. Logically speaking, the fact that there are so many claims calls attention to the extreme outrage shared by so many (I know most people will say it calls attention to the desire for free money, but that's not mutually exclusive). No matter what happens you'll probably get no more than a few bucks, but it's worth it anyway if it leads to the company paying more punitive damages.

[stooges44]

Don't back down, another way this can go is that EFX gets ordered to increase the settlement amount. Logically speaking, the fact that there are so many claims calls attention to the extreme outrage shared by so many (I know most people will say it calls attention to the desire for free money, but that's not mutually exclusive). No matter what happens you'll probably get no more than a few bucks, but it's worth it anyway if it leads to the company paying more punitive damages.

The fact that there are so many claims calls attention to social media and the word "free"

[zh cohen]

Not surprising:

https://www.ftc.gov/enforcement/cases-proceedings/refunds/equifax-data-breach-settlement


5. I thought I could choose $125 instead of free credit monitoring. What happened?

The public response to the settlement has been overwhelming. Millions of people have visited this site in just the first week. Because the total amount available for these alternative payments is $31 million, each person who takes the money option is going to get a very small amount. Nowhere near the $125 they could have gotten if there hadn’t been such an enormous number of claims filed.

The free credit monitoring provides a much better value, and everyone whose information was exposed can take advantage of it. If your information was exposed in the data breach, and you file a valid claim before the deadline, you are guaranteed at least four years of free monitoring at all three credit bureaus (Equifax, Experian, and TransUnion) and $1,000,000 of identity theft insurance, among other benefits. The market value of this product is hundreds of dollars per year.

You can still choose the cash option on the claim form, but you will be disappointed with the amount you receive and you won’t get the free credit monitoring.

6. I want to change my claim to get free credit monitoring instead of a cash payment. Can I do that?
Yes. The settlement administrator will be sending an email to people who already submitted a claim for the alternative cash payment. In that email, you will have the option to:

1) provide additional information OR

2) switch to free credit monitoring.

What does "1) provide additional information" mean?

[sguitarist18]

I think it means, for example, if you find proof that you spent more than 10 hours.