In September of 2017, Equifax announced a data breach that exposed the personal information of 147 million people. Under a settlement filed today, Equifax agreed to spend up to $425 million to help people affected by the data breach. If you were affected by the Equifax breach, you can't file a claim just yet. That's coming. But you can sign up for FTC email alerts about the settlement at ftc.gov/Equifax.
(Not sure that you were affected? The breach claims site will have a tool to let you check. Sign up for an FTC email update to find out when that tool is up and running.)
Here’s what you need to know about the settlement.
If you were affected by the breach, you may be eligible for benefits.
You can get at least 4 years of free credit monitoring of your credit report at all three credit bureaus (Equifax, Experian, and TransUnion). On top of that, you can get up to 6 more years of free credit monitoring of your Equifax credit report. That’s a total of 10 years of free credit monitoring. (Minors affected by the breach are eligible for even more free credit monitoring.)
If you have credit monitoring that will continue for at least 6 months and you decide not to enroll in the free credit monitoring offered in the settlement, you may be eligible for a cash payment. The amount you’d get will depend on the number of claims filed.
You may be eligible for reimbursement and cash payments up to $20,000 for:
You are eligible for free identity restoration services for at least 7 years that you can use if someone steals your identity or you experience fraud.
The claims process will start after court approval. To learn more about the settlement, go to ftc.gov/Equifax. We’ll update that page when there’s new information.
You can also sign up to get FTC email updates about this settlement.
If you were affected by the breach, you may also receive an email notification after the court approves the settlement. The notification will provide more information about the settlement, the benefits available to people impacted, and how to request the services offered under the settlement.
This blog post was updated on August 1, 2019.
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