You have 1 week to submit your Equifax data breach claim — here’s how

You have 1 week to submit your Equifax data breach claim — here’s how

January 13, 2020 Off By administrator

Jan. 20 is your deadline for submitting your claim with the FTC.

James Martin/CNET

You have just a handful of days to file your claim if you’re among the 147 million people whose data was exposed in the 2017 Equifax data breach. The Federal Trade Commission said you have till Jan. 20 to submit a claim to recover money you spent or lost as a result of the massive database hack. 

Equifax has agreed to pay at least $575 million and up to $700 million to help compensate victims of hackers who stole personal data from Equifax servers. Payments as part of the settlement can cover the costs to recover from the security breach of the free credit report company — including recovering from the theft of your identity and freezing and unfreezing accounts — and unauthorized charges to your account. You can also submit a claim to cover the cost of protecting yourself from identity theft, following the Equifax data breach.

To get started, you can check if you and your information were exposed as part of the breach. if your data was exposed, gather receipts and other documents related to the hack that show losses and out-of-pocket expenses. And finally, submit your claim for compensation. (The FTC said that because of the overwhelming public response to the settlement, the amount of cash you get to cover monitoring may be much, much less than $125. And make sure you are on the legitimate FTC settlement site: The FTC said fake settlement sites are appearing.)

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The breach resulted in hackers stealing credit card and driver’s license information, Social Security numbers, addresses, birthdates and other personal data stored on Equifax’s servers. As part of its investigation, the FTC alleged that the free credit bureau failed to take reasonable steps to secure its network. 

Even if you weren’t part of the breach and don’t qualify to file a claim, you can get free credit reports for seven years as part of the settlement.

Taking part in the Equifax settlement isn’t completely straightforward. The exact amount that Equifax will pay out is undetermined. The proposed settlement will start with a $300 million fund to compensate affected consumers who bought credit-monitoring services. Equifax will also pay $175 million to state and districts — and $100 million to the Consumer Financial…

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