![]() The settlement administrator won't send out any payments until the deadline has passed.Ĭonsumers can get more information at the website created by the settlement administrator,, or the Federal Trade Commission website at. The FTC said that the initial claims period will begin Tuesday and be open for six months. District Court in Atlanta granted preliminary approval Monday. Just remember to temporarily unfreeze credit, also free, when applying for a new credit card or loan. Consumers can freeze their credit for free because of recent legislation, avoiding fees that were typically $5 to $10 per rating agency. ![]() If something is suspicious, contact the company that issued the account and the credit-rating agency.Ĭonsumers should consider freezing their credit, which stops thieves from opening new credit cards or loans in their names. WHAT CAN CONSUMERS DO WITH CREDIT REPORTS?Ĭonsumers should examine the listed accounts and loans to make sure that the information is correct and that they authorized the transactions. For minors, free credit monitoring increases to 18 years.Ĭonsumers can opt instead for a $125 cash payment for a credit-monitoring product of their choice.Ĭonsumers must submit a claim to receive free credit monitoring or cash reimbursements. That's on top of the free copy consumers can already get by law every 12 months from each of the three big agencies - Equifax, Experian and TransUnion. For the time spent dealing with the breach, consumers can seek $25 per hour for up to 20 hours as compensation.Īll impacted consumers will be eligible to receive 10 years of free credit monitoring, at least seven years of free identity-restoration services, and, starting in 2020, six free copies of their Equifax credit report each year for seven years. WHAT DO CONSUMERS GET FROM THE SETTLEMENT?Īffected consumers may be eligible for up to $20,000 in reimbursements for losses from unauthorized charges to affected accounts, legal and other fees, credit-monitoring or identity-theft-protection services and expenses related to freezing or unfreezing credit reports. "You cannot determine with certainty that the information will never wind up in the hands of people who are going to use it," said Ryan Calo, a law professor at the University of Washington.Įven if the data hasn't been used, the unease and discomfort caused by large breaches also should be taken into account, Calo added. When the company circulated a notice to install a patch for the software vulnerability, the employees responsible for installing the patch never got it.Įquifax says it hasn't seen much of an increase in identity theft, but it is difficult to tell precisely who has been affected and how. Some were as simple as having an outdated list of computer systems administrators. The attack went unnoticed by Equifax for more than six weeks.Įquifax officials told GAO the company made many mistakes. ![]() ![]() The hackers, who have not been identified, jumped through the opening to reach databases containing consumers' personal information. You can find more information at to the Government Accountability Office, the investigative arm of Congress, a server hosting Equifax's online dispute portal was running software with a known weak spot. Social Security numbers, dates of birth, addresses, driver’s license numbers and credit card information were compromised in the data breach We will always fight tooth and nail for Indiana consumers.” “I am very proud of the attorneys in my Office who worked tirelessly to achieve a positive outcome in this case. “This Office’s years-long efforts to put money into the pockets of Hoosiers harmed by the Equifax data breach are finally coming to fruition,” Attorney General Rokita said. The Attorney General’s office is distributing payments to 236,616 current and former Indiana residents who filed eligible claims. If you did not sign up for the Equifax settlement and you get an email offering you money, you should do some additional investigation before clicking on any links. “Obviously there’s a lot of consumers impacted so we are doing it in batches, we are doing it in groups,” said Barnhart. If you don’t get an email this week don’t panic. “One question you may get it is can I get a paper check now? The answer is no, because we factored in who wants paper checks, who wants electronic checks and now in terms of we can't go back and fix that because it costs more money,” said Barnhart. The state obtained a $19.5 million settlement, but it’s now too late to decide if or how you want to get money. The Indiana Attorney General’s office sued Equifax over the massive 2017 data breach that impacted 3.9 million Hoosiers and their personal information. Kara Kenney Email about Equifax settlement
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