One of the notable things about this claims process, in fact, is its recognition of the fact that people lose time dealing with these incidents and that time is, in itself, valuable to them. If you spent hours on the phone trying to clear up suspicious credit activity or figure out whether you had been affected, go ahead and submit that as well. The settlement also includes provisions to reimburse you for your lost time at a rate of $25 per hour. Each individual is eligible to receive up to $20,000 as part of the settlement $125 is just the amount you can receive without having to do any extra work or claim any extra losses. If, for instance, you went ahead and purchased LifeLock or some other credit monitoring service after the Equifax breach, go ahead and submit that receipt too. But it’s so much work to fill out the entire form! It’s really not, unless you want to claim additional lost time or expenses beyond the base $125 payout, in which case you have to submit a description of the time you lost or receipts for any identity protection services or other security purchases you made in the aftermath of the breach. You may be thinking, But I don’t want to give Equifax the last six digits of my Social Security number and my birthdate and mailing address after it’s demonstrated just how much it can’t be trusted! Believe me, the company already knows all that information-and so much more. (Indiana and Massachusetts are still pursuing their own lawsuits against Equifax.) The payouts to individuals are part of the $575 to $700 million settlement that Equifax reached with the Federal Trade Commission, the Consumer Financial Protection Bureau, and 48 states. Even if the prospect of filling out a relatively brief online form fills you with more dread than the theft of all your personal data.Ĭonsider it a part of your civic duty: driving up the costs of data breaches for corporations so they have an incentive to invest more heavily in security. Even if $125 isn’t a sum of money that matters to you, even if you don’t feel you were really directly affected by the breach. ![]() ![]() Why Congress Is Still Regulating Tech Like It’s 1970 Their Reporting Reveals a Devastating Truth. I’ve Spent Five Years Collecting the Work of Murdered Journalists. How Online Job Applications Exclude Hundreds of Thousands of Americans ![]() Amazon “Duped Millions of Consumers,” According to the Government.
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