Posted on 07/27/2019 8:05:50 AM PDT by Innovative
On Monday, Equifax settled with the US Federal Trade Commission over its 2017 data breach, which affected 147 million Americans.
The settlement of up to $700 million includes as much as $425 million for individual compensation. With so many Americans affected, it's very likely you could qualify for some form of compensation as a result of the settlement.
And with so many names, addresses, birthdates and Social Security numbers leaked, you could still be at long-term risk for identity theft.
(Excerpt) Read more at cnn.com ...
So, that means $275 million for the lawyers. That's why I HATE class action attorneys. The members of the class get such a small percentage of the settlement that it's unconscionable.
Thank you for that! I don’t know why people are basically turning down free money. They don’t ask for your social security number. They already have it. If you’re married it’s a minimum of 250 dollars free. You don’t have to purchase THEIR credit monitoring. Most people should already HAVE credit monitoring.
By accepting their money, will you be giving up any claims for future damages?
You make a good point. I looked into it further and it appears the $125 payout is contingent on the number of people who file claims. The more people who file, the less the $$$ pay out will be.....
Click on the link in post #2
My question would be are you really talking to Equifax when you click the link? Another thing to keep in mind is Equifax has all ready been hacked once.
So was I and I chose the 125 since I already have credit monitoring.
And in New York city in AOCs district they constantly bust fake ID mills. The NY Post, Daily news have been doing stories on it literally for the past 20 years when I use to live there, and NOTHING is ever done about the illegals who use these IDs. Matter of fact they are protected.
What happens is they steal IDs and SS#s of people and sell them to these illegals who then go on to claim social services benefits and credit cards and you name it. I actually caught a guy trying to steal my info at a DMV years ago, I filled out all the forms for a class B license and had them placed next to me on the bench where I was sitting and caught this guy sitting next to me trying to pull the sheets out from under my nose when I was looking the other way and I almost got arrested for assault which was a mistake because they wouldn’t arrest him as a result. They stake out these places looking to steal peoples info.
https://voicesofny.org/2016/03/roosevelt-avenue-fake-document-dealers-still-active-despite-setbacks/
I’ll make sure you get your share. Just send me your SSN.
Tell me about it. In the 1990s I use to work for Nestle which is about one of the worst companies you can ever work for, and they were paying us salary instead of per hour to make deliveries. They were classifying us as salesmen when we weren’t, so of course when you are on salary it doesn’t matter how many hours you work, you still get paid the same. So of course what would they do? Give us hundreds and hundreds of deliveries per day, and this was in New York city where it’s traffic hell. I would leave my apt 2am and get home 11 pm and this went on for a year until finally this guy organized a class action suit...And they settled for millions, not just in New York but New Jersey branches as well, and guess what we got? $800 each for hundreds if not thousands of hours in overtime pay and hourly pay. I will never EVER get involved in a class action again, they are utter scams solely to profit law firms.
Was everybody compromised? If nothing happened to your credit do you still qualify?
Anyone use Lifelock that Rush always advertises? Is it worth it? This freaks me out this ID theft crap. That is the LAST thing I need right now is someone stealing my ID and needless to say all the illegals flooding into the country fake IDs is big biz.
Thanks for posting this link. It will help me immensely!
I’ll have to take a check because I already have credit monitoring. There have been several breaches over the last few years.
I think she was CIO or CSO! (Information / security)
Complete insanity.
thanks for posting. just claimed $250
Not just credit monitoring, but also LOCK your credit report as well. Don’t forget that, if you want to apply for a new credit card, you must unlock your report in advance. Then re-lock it after the application process is completed.
Just a month ago I applied for a new credit card and forgot to unlock my credit report. The company wrote back with the explanation “Not enough credit history” which is hilarious because I have a 48 year credit history and a very high credit rating. The credit agency didn’t report back to the company “Credit report locked. Information not available.” Nope, they replied back “Insufficient credit history.” That is just staggeringly stupid.
I unlocked the report and called the company to which I was applying for the credit card. It took FOREVER to get to their credit department through all the voice tree hell. When I finally got a a person, she was very nice and understanding. She re-ran the credit report on the spot and I was approved instantly. I then re-locked my report.
I do have a question. Do I need to lock my credit report at all three credit reporting agencies? Or is it sufficient to lock it at one agency? Do they share credit locks among themselves? I haven’t been able to find an answer to this question.
If 1 million people ask for the money, they’ll be eligible for just $31 each.
See, while Equifax has agreed to a $700 million settlement — compare to its revenue of $880 million last quarter alone — it’s technically only a $425 million settlement as far as affected consumers are concerned, with the rest of the money going to pay penalties.
And of that $425 million, it turns out only a paltry $31 million is actually set aside for those individual $125 cash payments — the rest is all for free credit monitoring, reimbursements.
https://www.theverge.com/2019/7/26/8932398/equifax-settlement-125-claim-wont-get-money-alternative-reimbursement-compensation
It Is operated By The Settlement Administrator, Not By Equifax.
You can block your credit at all 3 sites so know one can open lines of credit. A pita if you need credit fast but if not it might be something you can look into.
you just finding out about this?
they put some diversity token with a completely inappropriate background in charge of their IT systems - every SS# was compromised if there was any credit record on it at all
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