A data breach can cause havoc and long-lasting damage. Just ask those Following a data breach at Equifax that exposed the social security numbers (SSN’s) of millions of people. The credit bureau, Equifax, will spend millions in restitution to those affected.
Equifax, one of the three major credit reporting agencies in the USA. A settlement in the amount of $700 million was reached with the Federal Trade Commission (FTC) after they exposed the information of around 147 million people. The amount could climb as high as $425 million and will go to directly help those affected by the breach.
Equifax is offering affected consumers a one-time $125 payment or up to 10 years of free credit monitoring and up to $1 million in identity theft insurance. First, consumers need to find out if their information was exposed.
- Click here to check with Equifax if they exposed your information. You will need to provide your last name and the last six numbers of your social security number.
- If you were affected, click here to file a claim with the FTC and either get a $125 settlement payment or free credit monitoring. You will again need to list some private information.
- Consumers can also upload supporting documents from time and money spent checking or recovering from identity theft. Equifax may provide a max of $20,000 in reimbursement for these expenses.
Alongside filing a claim in the Equifax settlement, consumers are also legally entitled to a free credit report once a year. To watch for suspicious activity, AnnualCreditReport.com offers a combined report from Equifax, Experian and Trans Union.