Remember a couple of years ago when it was revealed that Equifax had a HUGE data breach and over 147 MILLION Americans were affected? Of course you do! You probably started freaking out once you heard the news. Well, if you are among those 147 million people you might be eligible for compensation.
On Monday the Federal Trade Commission that Equifax will have to pay up to $700 million in individual compensation and civil penalties because of the hack. According to the commission’s online claims process, those whose personal information was exposed can get free credit monitoring for 10 years: four years via the three major credit bureaus (Equifax, Experian and TransUnion) and six years specifically through Equifax. If you already have credit monitoring, you can choose to receive $125. If you're one of those unlucky people who had to spend time and money as a result of the breach, Equifax can provide larger sums, up to $20,000.
The deadline to exclude yourself or opt out of the settlement process is November 19, and all claims need to be filed by January 22.