One of the biggest credit reporting companies in the US, Equifax is experiencing a serious data breach in 2017 that affected 147 million people. Social Security numbers, addresses, and, in certain situations, driver’s license information were among the extremely private data that was made public by the hack.
Equifax agreed to a settlement of up to $425 million to help those affected. All 50 U.S. states and territories, the CFPB and FTC coordinated the settlement, which was finalized in 2020. Identity recovery services continue to be provided through January 2029, although the deadline for compensation claims ended in January 2023.
Equifax Data Breach Settlement 2024
One of the biggest attempts to resolve a cybersecurity breach in American history is the Equifax Class Action Data Breach Settlement. Equifax revealed in September 2017 that hackers had obtained personal information, including Social Security numbers, names, and dates of birth.
The settlement, finalized after a 2019 class-action lawsuit, provided financial compensation and identity restoration services to those affected. As of right now, it’s a big step in the right direction for giving victims of this massive breach support and compensation.
Equifax Data Breach Settlement Approved
| Organization | Equifax |
| Program | Equifax Data Breach Settlement |
| Country | United States |
| Total Settlement | $425 Million+ |
| Payment Timeline | December 9, 2024 |
| Recipients | Affected consumers (147M) |
| Category | Government Aid |
| Official Website | equifaxbreachsettlement.com |
Equifax Class Action Data Breach Settlement
People who were affected by the breach could submit claims for compensation as part of the settlement; benefits included cash payments and help recovering from identity theft. In the week of December 9, 2024, those who submitted claims prior to the January 2023 deadline are likely to receive additional compensation in the form of electronic prepaid cards.
It’s crucial to remember that the exact payment amounts vary based on the terms of the settlement and the number of claims submitted. Official email addresses, such as distribution@equifaxbreachsettlement.com or info@equifaxbreachsettlement.com, will be used to notify recipients of any additional payments.
Understanding Free Identity Theft Recovery Services
Individuals are still eligible for free identity theft recovery services (includes identity restoration support in case of personal data misuse) by January 2029, even if they missed the deadline for filing claims. To verify their eligibility, affected individuals may use an online lookup tool.
These services make sure victims have access to help in case that their personal information is misused in the future, which is essential for those worried about the breach’s long-term impact.
Steps to Redeem and Activate Your Prepaid Card
Electronic prepaid cards will be issued to settlement payment recipients. Users must go to www.myprepaidcenter.com/redeem and follow the redemption regulations in order to activate the card. Cardholders can call customer service at 1-833-678-6289 for more help. Prepaid cards have no expiration date, but after six months of inactivity, there might be fees.
Important Deadlines and What Comes Next
The announcement of the breach in September 2017, the settlement’s finalization in 2020, and the deadline for filing claims in January 2023 are major turning points in the Equifax Class Action Data Breach Settlement.
In the future, identity theft recovery services will continue to be given until January 2029, and additional payments are planned for December 2024. It’s important for recipients of emails related to compensation to confirm the sender’s identity, stay away from unethical links, and only rely on official channels for information.
FAQs
What is the deadline to file a claim for the Equifax data breach settlement?
The deadline to file a claim for compensation was in January 2023.
How can I redeem my prepaid card from the Equifax settlement?
Visit www.myprepaidcenter.com/redeem and follow the activation rules to redeem your prepaid card.
Can I still access identity theft recovery services if I missed the claim deadline?
Yes, identity theft recovery services are available until January 2029, regardless of whether you filed a Equifax Class Action Data Breach Settlement.