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Equifax Data Breach Settlement: What to Know About the Payout

William White

Equifax data breach settlement news for Monday includes some details that are of interest.

Equifax Data Breach Settlement: What to Know About the Payout

Here’s what we know so far about the Equifax data breach settlement.

  • The credit reporting agency is going to spend up to $425 million to help people affected by the data breach.

  • However, those hit by the data breach aren’t able to file a claim must yet.

  • That also means it still tough to figure out how much each person can get back from the Equifax data breach settlement.

  • What we do know is the types of payments that will be sent out to those affected.

  • This includes up to $20,000 for hours worked dealing with the fallout of the data breach.

  • This figure comes from a maximum of 20 hours at $25 per hour worked dealing with the data breach issue.

  • Other factors include money spent on identity protection services and other costs.

  • Another benefit of the Equifax data breach settlement include a possible $125 payment for those that already have identify protection services.

  • Anyone that doesn’t is able to get free identity protection as one of the benefits of the settlement.

  • This can include free credit monitoring for 10 years.

  • The option is longer for minors that may have been affected by the data breach.

  • There is also an option for those affected to receive free identity restoration for a minimum of seven years.

You can learn more about the Equifax data breach settlement by following this link.

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As of this writing, William White did not hold a position in any of the aforementioned securities.

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