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Old 07-24-2019, 10:54 PM
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Most U.S Straight Dope Readers Can Get Free $125--Equifax Data Breach Settlement


Quote:
You can now file a claim if you were among the 147 million people whose data was exposed in the major Equifax data breach in 2017 to recover money you spent or lost as a result of the hack. The Federal Trade Commission announced on Monday that Equifax has agreed to pay at least $575 million and up to $700 million to help compensate the victims of hackers who stole data from Equifax customers. 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 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.
https://www.cnet.com/how-to/equifax-...0m-settlement/

So your alternatives are:
1. Free $125 (no documentation needed) or
2. Free credit monitoring (no documentation needed) or
3. Substantially more if you document your costs/losses

To see if you are covered:
https://eligibility.equifaxbreachset...en/eligibility

To submit a claim:
https://www.equifaxbreachsettlement.com/
  #2  
Old 07-24-2019, 11:19 PM
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Where do you get that bit about $125 without any documentation? I had two card numbers stolen but the charges were declined and I didn't lose anything except the annoyance of having to get the numbers changed. And yes, they did say I was "impacted."
  #3  
Old 07-25-2019, 03:44 AM
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I just checked myself, without much expectation of anything, as I've been living in Australia for the last 14 years. Yes, I've been "impacted", and yes, I can file a claim for the $125.00. Huh. So I filled in my info, and I've got a claim number. We'll see if I get the money or not.
There's been no dodgy activity that I know of; I suppose someone might have done something in the States, but nothing I've heard of.
__________________
Salvator apiae.

Last edited by galen ubal; 07-25-2019 at 03:47 AM.
  #4  
Old 07-25-2019, 03:50 AM
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The $125 has conditions attached. You're only eligible if you already have a credit-monitoring subscription.

Last edited by Lord Feldon; 07-25-2019 at 03:51 AM.
  #5  
Old 07-25-2019, 05:24 AM
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I was affected by that breach and I'm not interested in their $125. I probably will take them up on their free credit monitoring extension- I think I've read that was for a duration of couple of years.
  #6  
Old 07-25-2019, 12:20 PM
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Quote:
Originally Posted by Lord Feldon View Post
The $125 has conditions attached. You're only eligible if you already have a credit-monitoring subscription.
I'm wondering if Credit Karma counts. They are indeed a credit monitoring service, but I doubt if that's what they mean since it's free.
  #7  
Old 07-25-2019, 12:34 PM
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Quote:
Originally Posted by Lord Feldon View Post
The $125 has conditions attached. You're only eligible if you already have a credit-monitoring subscription.
Doesn't matter. Just check the box which says "I have credit monitoring and will have it for 6 months" and you'll get your $125.

I have never paid for credit monitoring - accounts get hacked with enough regularity that I seem to get about 1 free year per year. I think my current service is via Wells Fargo and one of their glorious clusterfucks.

Last edited by JohnT; 07-25-2019 at 12:35 PM.
  #8  
Old 07-25-2019, 12:42 PM
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Quote:
Originally Posted by Lord Feldon View Post
The $125 has conditions attached. You're only eligible if you already have a credit-monitoring subscription.
They don't appear to ask for any documentation to prove you already have credit monitoring, though. I'm sure some people will cheat and ask for the $125 even though they're not eligible. I wonder if they have some other way to verify you have a credit monitoring subscription.

I do already have "free" credit monitoring as part of my AAA membership (which is really just a marketing trick to try to upsell you to a package that you do pay for). I wondered if that might count, but they probably really meant people who paid for credit monitoring as a result of the breach. So I picked the free credit monitoring.
  #9  
Old 07-25-2019, 12:45 PM
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Quote:
Originally Posted by pohjonen View Post
I'm wondering if Credit Karma counts. They are indeed a credit monitoring service, but I doubt if that's what they mean since it's free.
My credit monitoring service is via kayaker LTD. I am awaiting my check in the mail.
  #10  
Old 07-25-2019, 12:45 PM
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My philosophy has always been to beg for forgiveness than to ask for permission. I chose the $125 and didn't give a shit about whether I actually have free credit monitoring, and am so not worried that equifax will bother to trace it. I mean, what - I'm not going to get the $125 I don't already have?
  #11  
Old 07-25-2019, 12:48 PM
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Quote:
Originally Posted by Equifax
Based on the information you provided, our records indicate that your personal information was not impacted by this incident.
No $125 for me; but I'm happy to see I was not compromised.
  #12  
Old 07-25-2019, 01:01 PM
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Quote:
Originally Posted by Johnny L.A. View Post
No $125 for me; but I'm happy to see I was not compromised.
How did you work that out?!

Quote:
Originally Posted by Equifax
OMG, kayaker, you are totally fucked.
  #13  
Old 07-25-2019, 01:06 PM
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Not super thrilled with giving my last name and last 6 digits of my SSN to this random website. Have we learned nothing?

Last edited by Omniscient; 07-25-2019 at 01:06 PM.
  #14  
Old 07-25-2019, 01:10 PM
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I put in a claim for $125--I have some kind of credit monitoring with my credit card, so I guess that counts. Actually the major impact to me was the 4 days I spent trying to remove the freeze I put on when the breach was originally announced.

Last edited by blondebear; 07-25-2019 at 01:11 PM.
  #15  
Old 07-25-2019, 01:15 PM
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Originally Posted by Omniscient View Post
Not super thrilled with giving my last name and last 6 digits of my SSN to this random website. Have we learned nothing?
There really isn't much to learn, other than there's little you can do except react when it happens.
  #16  
Old 07-25-2019, 01:20 PM
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I'm not sure if I have credit monitoring or not. I've used Quizzle in the past but that was just a freebie credit rating check. I also have Farmers Insurance watching out for me for identity theft but don't know if that's the same.

Edit: like WildaBeast, I also have AAA membership. I am so confused now. I'd have to dig through piles of tiny text and paperwork.

Last edited by Velocity; 07-25-2019 at 01:22 PM.
  #17  
Old 07-25-2019, 01:21 PM
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Guys. It's a simple check box. Just click it and get your $125.
  #18  
Old 07-25-2019, 01:30 PM
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Quote:
Originally Posted by JohnT View Post
Guys. It's a simple check box. Just click it and get your $125.
This. Nobody is going to be verifying.
  #19  
Old 07-25-2019, 01:35 PM
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If the breach affected 147 million Americans, and each could get up to $125 apiece, then shouldn't it be something more like a total payout of up to $18 billion? (which might make the company go broke)
  #20  
Old 07-25-2019, 01:38 PM
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Not my problem.

And, again, if they verify and decide I don't get my $125, I'm out... what? A free credit monitoring service?

I'll take that chance.
  #21  
Old 07-25-2019, 01:39 PM
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Originally Posted by Velocity View Post
If the breach affected 147 million Americans, and each could get up to $125 apiece, then shouldn't it be something more like a total payout of up to $18 billion? (which might make the company go broke)
I've participated in 5 or 6 class action suits against junk faxers, receiving a check for 1-2 hundred each time. The possibility of the company going broke existed each time, but my sleep schedule was never affected!
  #22  
Old 07-25-2019, 01:49 PM
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From Equifax's latest 10k:

Quote:
During the year ended December 31, 2017, the Company recorded $164.0 million of pre-tax expenses related to the 2017 cybersecurity incident and insurance recoveries of $50.0 million for net expenses of $114.0 million. Expenses include costs to investigate and remediate the 2017 cybersecurity incident and legal and other professional services related thereto, all of which were expensed as incurred. Additionally, as a result of the 2017 cybersecurity incident, we offered free credit file monitoring and identity theft protection to all U.S. consumers. We recorded the expenses necessary to provide this service to those who signed up during 2017. For additional information, see Note 6 of the Notes to the Consolidated Financial Statements in this report.
Go for the $125, team. You're already eligible for the credit monitoring and all you're doing is waiving $125 to get something they've offered, for free, to every single person in the country.
  #23  
Old 07-25-2019, 01:51 PM
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Can I waive my measly settlement and punch all of their Board of Directors in the face instead?
  #24  
Old 07-25-2019, 02:05 PM
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Just called insurance, yes I did and do have credit monitoring. I now have $125 on the way
  #25  
Old 07-25-2019, 02:07 PM
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Can I waive my measly settlement and punch all of their Board of Directors in the face instead?
147 million punches to the face would amount to a lot of meat tenderizing....
  #26  
Old 07-25-2019, 02:32 PM
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So when can I expect the $125?
  #27  
Old 07-25-2019, 02:45 PM
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So when can I expect the $125?
You may expect it anytime you want. When and if it actually arrives, though...
  #28  
Old 07-25-2019, 03:37 PM
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I remember freezing my credit, then needing to unfreeze it, so I certainly spent time doing that. I don't know if my time worrying counts. But what I don't recall is the exact time frame, so I'm not sure what month/years to enter into the boxes.
  #29  
Old 07-25-2019, 04:43 PM
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I have credit monitoring as part of a settlement due to a data breach of Federal records, so I'm pretty sure I qualify. In any case, it doesn't hurt to apply; the worst that can happen is I don't get it.
  #30  
Old 07-25-2019, 05:32 PM
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So when can I expect the $125?
Next year. The FTC's summary page on the issue is here: https://www.ftc.gov/enforcement/case...ach-settlement
  #31  
Old 07-25-2019, 06:26 PM
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Originally Posted by kayaker View Post
My credit monitoring service is via kayaker LTD. I am awaiting my check in the mail.
Mine is through any bank or credit card company the thieves try to get credit from. Good luck, slimeball!
  #32  
Old 07-25-2019, 09:53 PM
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Reading through the settlement, as usual the lawyers win, with what looks like 4 firms splitting $77.5 million (25%) of the settlement and another $3 million in expenses. The class representatives (I suspect lawyers or friends of same) are getting $2500 each. The rest of us are splitting whatever is left on a pro rata basis, so receiving less than $125 is possible depending on how many people sign up. Although the settlement also seems to increase if less than the expected number of folks sign up you could receive more.

I will admit that at least there is some actual money involved and I look forward to the check. I think the last class action I was notified I was a part of had lawyers receiving about $10-million and I was getting recalculated financial reports from whatever company they had sued claiming the financials were wrong.
  #33  
Old 07-25-2019, 11:19 PM
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Well, I did file a claim since they said I was "impacted." I can't see passing up a chance to stick it to Equifax in some small way.
  #34  
Old 07-26-2019, 12:00 AM
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I remember freezing my credit, then needing to unfreeze it, so I certainly spent time doing that. I don't know if my time worrying counts. But what I don't recall is the exact time frame, so I'm not sure what month/years to enter into the boxes.
Personally, I seemed to have spent exactly 10 hours worrying. I was most worried in or around September 2017.

Last edited by Joey P; 07-26-2019 at 12:01 AM.
  #35  
Old 07-26-2019, 08:11 AM
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I was not impacted. Might be because I lived 16 years overseas in the lead up to the data breach and had no US credit accounts.
  #36  
Old 07-26-2019, 10:32 AM
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I stopped using credit cards decades ago. I use a debit card, use automatic drafting for all my bills, and pay mortgage. I don't get the need for credit monitoring. I've never been in a situation where my credit status came into play. Maybe I live too spartan, but at least I haven't gotten my identity stolen yet.
  #37  
Old 07-26-2019, 10:40 AM
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I stopped using credit cards decades ago. I use a debit card, use automatic drafting for all my bills, and pay mortgage. I don't get the need for credit monitoring. I've never been in a situation where my credit status came into play. Maybe I live too spartan, but at least I haven't gotten my identity stolen yet.
Even if your credit status never comes into play, you could end up dealing with the fallout if someone opens an account in your name. Sooner or later the people that are owed money are going to come looking for you.

If you never (or rarely) do anything that involves your credit report, it would be wise to lock/freeze them.
  #38  
Old 07-26-2019, 12:49 PM
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Even if your credit status never comes into play, you could end up dealing with the fallout if someone opens an account in your name. Sooner or later the people that are owed money are going to come looking for you.

If you never (or rarely) do anything that involves your credit report, it would be wise to lock/freeze them.
Even if you use it, it's smart to leave them frozen. It's the best security to protect yourself from having someone opening up a line of credit in your name.

I'm not sure we will ever need to open another line of credit in my lifetime, so it's a no-brainer for my wife and I.
  #39  
Old 07-26-2019, 04:35 PM
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I got home today to find a check for about $100 waiting in my mailbox for a different class-action lawsuit that I didn't even know I was part of. Yay for free money.

Had to look it up, but it appears BP was ripping me off at the gas pump.
  #40  
Old 07-26-2019, 05:37 PM
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Thanks to the OP for the links. I filed for both my wife and I.
  #41  
Old 07-26-2019, 05:51 PM
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I'm a little concerned that the form only asks for 6 digits of the SSN and your last name. The bad guys who accessed my data could file on my behalf and get my $125.
  #42  
Old 07-26-2019, 05:55 PM
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I'm a little concerned that the form only asks for 6 digits of the SSN and your last name. The bad guys who accessed my data could file on my behalf and get my $125.
Now that would be funny...not for you specifically, but if the people the breached it the first time went and collected the $125 for everyone.
  #43  
Old 07-26-2019, 07:43 PM
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Mr. CelticKnot and I both get $125. We get Lifelock through Norton.

There is an advantage to having a lousy credit score. (We got killed in 2008 and haven't recovered yet.) When living in a city with terrible USPS delivery--we frequently got neighbors' mail and didn't receive things like bank statements) we did get a letter telling us that we were not approved for a loan we had applied for. We never applied for a loan.
  #44  
Old 07-26-2019, 08:11 PM
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Now that would be funny...not for you specifically, but if the people the breached it the first time went and collected the $125 for everyone.
Get in early before someone does this! It's going to happen.
  #45  
Old 07-26-2019, 11:35 PM
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Get in early before someone does this! It's going to happen.
It happens every year with tax returns.
  #46  
Old 07-27-2019, 01:28 PM
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A number of people are going to opt for the extended credit monitoring over the $125, so I don't think there will be a shortage of payout money. I went for the cash, since I have a couple of different credit monitoring services (AAA, etc.)
  #47  
Old 07-27-2019, 08:34 PM
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If you opt for the money, you'll get something...but probably not $125.00. There's a pool of money available to whoever is eligible and asks for the bucks, but the more people who do this, the less money each person gets.

Actually, the payout pool is only 31 million dollars.

Quote:
In fact, there’s only room for 248,000 people to get that amount.

If 1 million people ask for the money, they’ll be eligible for just $31 each.

If every single one of the 147 million affected people sign up, they’ll be looking at 21 cents.
Here is a link to a PDF of the settlement. The section that talks about the payouts starts on page 36.

I think I will opt for the free credit monitoring.

Last edited by Railer13; 07-27-2019 at 08:36 PM.
  #48  
Old 07-31-2019, 04:57 PM
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I hope no one is standing on one foot waiting for their settlement check.
  #49  
Old 07-31-2019, 05:56 PM
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I, for one, would be thrilled if Equifax had to add the cost of printing and mailing 147,000,000 $.21 checks to the already too-low $31 million settlement.

Assuming they can do this... print, envelope, and mail... 147m checks at $.80 each, that adds another $117,000,000 to the cost.

I'm cool with that. Keep requesting checks, everyone!
  #50  
Old 07-31-2019, 06:12 PM
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Quote:
Originally Posted by JohnT View Post
I, for one, would be thrilled if Equifax had to add the cost of printing and mailing 147,000,000 $.21 checks to the already too-low $31 million settlement.

Assuming they can do this... print, envelope, and mail... 147m checks at $.80 each, that adds another $117,000,000 to the cost.

I'm cool with that. Keep requesting checks, everyone!
I hadn't considered that, but I like the way you think!
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