Equifax Settlement Payout Date: What You Need to Know

In September 2017, Equifax announced that it had experienced a massive data breach, exposing sensitive information of over 145 million US consumers. The affected individuals can now claim reimbursement for time spent, losses, and out-of-pocket expenses related to the data breach. Here's what you need to know about the Equifax settlement payout date.

Reimbursement for Time Spent

If you've spent more than 10 hours dealing with the consequences of the data breach, you're eligible to claim reimbursement for your time at a rate of $25 per hour. You'll need to provide a detailed description of the time spent to support your claim.

Deadline for Filing Claims

The deadline for filing claims is January 22, 2020. It's essential to submit your claim before this date to ensure you receive compensation.

Payout Amount

The payout amount will be up to $125 per person, but it's capped at $31 million. Once the claims reach this threshold, the payout amount may be reduced.

Credit Monitoring Options

As part of the settlement, you can opt for either free credit monitoring or a cash payment up to $125. To receive the cash payment, you'll need to certify that you have credit monitoring in place and will keep it for at least six months. The two other major credit bureaus, Experian and Transunion, are also providing credit monitoring services as part of this claim.

Filing a Claim

You can file a claim online or by mail. To check if your information was compromised, visit the Equifax website, enter some basic information, and the site will inform you whether your data was affected.

The 2017 Equifax data breach is one of the largest in history, exposing sensitive information such as social security numbers, birth dates, addresses, credit card and bank account numbers, and other private details. If you're a victim of this breach, it's essential to take advantage of the settlement offer to receive compensation for your time, losses, and out-of-pocket expenses.

Remember to file your claim before January 22, 2020, to ensure you receive the payout amount. For more information on the Equifax settlement payout date and how to file a claim, visit the company's website or contact their customer service department.