Equifax Data Breach Settlement: How to Claim Your Additional Pro Rata Payments
The Equifax data breach of 2017, affecting nearly 147 million people, continues to unfold with the distribution of additional pro rata payments from the settlement fund. This follows an initial round of compensation for credit monitoring services and other expenses. The additional funds are being distributed because of remaining settlement monies after the initial payout. This means that individuals who were part of the initial settlement may be eligible for extra compensation.
Understanding the Equifax Data Breach Settlement
The initial Equifax data breach settlement allocated at least $380.5 million for credit monitoring and related expenses. An additional $125 million was later designated for out-of-pocket losses. In total, $425 million was set aside to compensate affected individuals for out-of-pocket losses, time spent on claims, and other cash benefits. The deadline for filing initial claims has passed, but this additional pro rata payment offers a second chance for eligible individuals to receive compensation.
How to Receive Your Equifax Data Breach Settlement Additional Pro Rata Payment
The process for receiving these additional funds requires careful attention to detail to avoid scams. Eligible individuals will receive an email with the subject line, “Equifax Data Breach Settlement Additional Pro Rata Payment,” from a verified FTC sender. It is crucial to verify the email’s legitimacy before proceeding. Scammers are known to exploit such situations, sending fraudulent emails to steal personal information.
After verifying the email, individuals must verify their identity to ensure the payment is sent to the correct recipient. Following the instructions in the email is essential to claim the additional pro rata payment. Failure to follow these instructions may result in delays or the loss of the payment. The amount received varies, depending on several factors, including claim volume and documented losses. Some individuals have reported receiving amounts ranging from less than $40 to a minimum of $2.39.
Who is Eligible for the Equifax Data Breach Settlement Additional Pro Rata Payment?
Eligibility for this additional payment is based on several key factors:
- Individuals must be among the approximately 147 million people whose sensitive information, including social security numbers, birthdates, addresses, and credit card numbers, was compromised in the 2017 Equifax data breach.
- They must have submitted a claim with all required documentation during the initial settlement process and received their first round of compensation.
- They must have received an email notification from a verified FTC sender containing instructions on how to claim the additional funds.
Timing and Further Information on the Data Breach Settlement
The timeline for receiving the additional pro rata payment depends on when the email is received and whether the instructions are followed correctly. Monitoring your inbox is crucial to ensure you don’t miss the email.
Remember, the deadline for the initial claim has passed. However, those who are eligible for this additional payment should act promptly to claim their funds. Those who filed claims before January 22, 2024, also benefit from free identity restoration services until 2029. Additionally, all US consumers can obtain seven free Equifax credit reports per year until 2026 via www.annualcreditreport.com.
This is a significant benefit resulting from the Equifax data breach settlement. Stay vigilant against scams and ensure you only interact with verified sources of information regarding this settlement. The Equifax data breach settlement continues to provide compensation and resources to affected individuals. This additional pro rata payment represents a crucial part of that ongoing process.
