In light of the Equifax data breach extension, the company disclosed a significant security lapse that compromised the personal data of nearly 147 million individuals. As a consequence of this breach, compensations for claims associated with out-of-pocket losses, time invested, and other financial benefits are now being processed. If you’ve lodged a claim due to the Equifax data breach extension, be vigilant for your impending payment.
Status of the Equifax data breach extension
Following the Equifax data breach extension, the Settlement was granted final approval by the Court on January 13, 2020. The Final Approval Order and Final Order and Judgment can be accessed by clicking the provided link.
All appeals related to the Settlement have been addressed, and the Settlement is now in effect. In accordance with the Settlement’s terms, claimants who filed a valid request for credit monitoring services received communication, either via email or postal mail, detailing the activation process for Experian credit monitoring services. Regrettably, if you missed the stipulated deadline mentioned in the communication, the opportunity to activate Experian Credit Monitoring Services has lapsed.
Equifax data breach payments began with prepaid cards
Starting from mid-December 2022, Settlement benefits for valid out-of-pocket losses and time invested began distribution. Claims filed during the Extended Claims Period, concerning time spent and out-of-pocket losses, are currently under evaluation. Should there be a need for further details regarding your claim(s) linked to the Equifax data breach extension, you will be notified.
For those affected by the Equifax data breach, there’s an opportunity to claim reimbursement for legitimate Out-of-Pocket losses or Time Spent. This excludes expenses and time related to credit report freezing/unfreezing or the purchase of credit monitoring or identity theft protection. Reimbursement can be sought for incidents during the Extended Claims Period, provided there hasn’t been any compensation received through other channels. To qualify, any claim for Out-of-Pocket Losses or Time Spent should fall between January 23, 2020, and January 22, 2024, which constitutes the “Extended Claims Period.”
How to request financial reimbursement?
For individuals impacted by the Equifax data breach, if you encountered any financial or time-related setbacks due to the breach between January 23, 2020, and January 22, 2024, there’s an extended window for you to claim compensation. To initiate the process, visit EquifaxBreachSettlement.com and complete the provided form.
Upon accessing the form, you’ll be prompted to input your contact details. Subsequently, based on the benefits you intend to claim, you can proceed with one or both of the subsequent sections:
- Should you have invested time addressing issues arising from the breach during the Extended Claims Period, you can apply for compensation or proceed to the subsequent section.
- If you faced financial losses due to the breach within the Extended Claims Period, you can apply for reimbursement or move to the next section.
- Conclusively, you’ll be asked to specify your preferred mode of payment for the Extended Claims Period claim.
Depending on your eligibility, you have the flexibility to file claims for benefits listed in Sections 1 and/or 2. Before embarking on this process, ensure you have all necessary supporting documents on hand, especially if you’re seeking compensation in Section 1 (for claims exceeding 10 hours) and/or Section 2. For clarity on the requisite documentation, click on the provided link.
To successfully submit your claim, you must electronically sign the form and hit the “submit” button. It’s crucial to understand that, in the event you file for a monetary compensation, the final amount might be adjusted based on the total number of claims received in relation to the Equifax data breach extension.
In the wake of the Equifax data breach extension, individuals are entitled to seek compensation for specific financial expenditures. These include:
- Purchases of certain Equifax products made prior to the breach.
- Costs associated with freezing or unfreezing your credit report.
- Expenses for credit monitoring services.
- Expenditures related to addressing fraud or identity theft subsequent to the breach.
Furthermore, if you invested time in activities such as:
- Initiating credit freezes.
- Procuring credit monitoring services.
- Managing issues of fraud or identity theft following the breach, you are eligible to request payment for the time spent on these tasks.