Equifax settlement: how to file claim?

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ERISA Stone
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Re: Equifax Settlement Claims

Post by ERISA Stone » Fri Jul 26, 2019 11:18 am

You have to certify you have current credit monitoring to get the $125. Anyone know exactly how that's defined? I have all my accounts frozen and receive notices on certain credit cards if there is any activity on my SSN, but that's about it.

DoctorPhysics
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Re: Equifax Settlement Claims

Post by DoctorPhysics » Fri Jul 26, 2019 11:23 am

Anyone consider opting out? It seems like the $250 I could get is a pittance for losing the right to sue and recover my money if my identity is stolen in the future.

MBJ0909
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Re: Equifax Settlement Claims

Post by MBJ0909 » Fri Jul 26, 2019 11:24 am

You literally just click a box to certify that you have credit monitoring and that's all you need to do. As I understand it if you have a Credit Karma account, then you have credit monitoring that would satisfy that requirement.

barnaclebob
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Re: Equifax Settlement Claims

Post by barnaclebob » Fri Jul 26, 2019 11:37 am

runner3081 wrote:
Fri Jul 26, 2019 11:14 am
In reality, we will all get a few dollars out of it, no more.
Maybe so, I guess it depends on how many claims are filed. I'm willing to sacrifice a few of my cents for you guys though.

barnaclebob
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Re: Equifax Settlement Claims

Post by barnaclebob » Fri Jul 26, 2019 11:39 am

{Topic merged into here}
DoctorPhysics wrote:
Fri Jul 26, 2019 11:23 am
Anyone consider opting out? It seems like the $250 I could get is a pittance for losing the right to sue and recover my money if my identity is stolen in the future.
How do you anticipate your money being stolen in a way that's not easily recoverable? I've had fraudulent cc transactions and my 2.5k drained from my checking account from an ATM in the Ukraine $125 at a time. Neither has been difficult to take care of.

student
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Re: Equifax settlement: how to file claim?

Post by student » Fri Jul 26, 2019 11:43 am

Coburn wrote:
Fri Jul 26, 2019 9:39 am
student wrote:
Fri Jul 26, 2019 9:26 am
Coburn wrote:
Thu Jul 25, 2019 4:58 pm
After entering my info, it says I was not affacted by the data breach.

I assume then that I can't file a claim. :?:
Did you do it using https://www.equifaxbreachsettlement.com/
Yep, used that link and it said my account wasn't leaked. Do I trust that statement and does it mean that there's nothing to pursue then?

I'm relieved that my info wasn't compromised more than anything else.
Interesting. They say it wasn't leaked based on just your name and address? It never asked me for the last 4 digit of SSN. Did they ask for the last4 digit of your SSN?

DoctorPhysics
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Re: Equifax Settlement Claims

Post by DoctorPhysics » Fri Jul 26, 2019 11:49 am

barnaclebob wrote:
Fri Jul 26, 2019 11:39 am
DoctorPhysics wrote:
Fri Jul 26, 2019 11:23 am
Anyone consider opting out? It seems like the $250 I could get is a pittance for losing the right to sue and recover my money if my identity is stolen in the future.
How do you anticipate your money being stolen in a way that's not easily recoverable? I've had fraudulent cc transactions and my 2.5k drained from my checking account from an ATM in the Ukraine $125 at a time. Neither has been difficult to take care of.
If that’s the case, why did they limit downside to $20k per person? Maybe it was easy for you but heard of family who had the bank tie up way more than that for months while they investigated. The point I’m making is do we lose rights by settling for a pittance?

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PrettyCoolWorkshop
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Re: Equifax Settlement Claims

Post by PrettyCoolWorkshop » Fri Jul 26, 2019 11:58 am

I imagine that capital one's free CreditWise service counts as "credit monitoring" by whatever criteria the settlement defines it by. It would be good to know for sure though.
Be greedy and fearful. All the time.

barnaclebob
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Re: Equifax settlement: how to file claim?

Post by barnaclebob » Fri Jul 26, 2019 12:01 pm

SimonJester wrote:
Fri Jul 26, 2019 8:32 am
I suspect payouts will be a lot smaller...

If there are more than $31 million claims for Alternative Reimbursement Compensation, all payments for Alternative Reimbursement Compensation will be lowered and distributed on a proportional basis.
It does also say further down in the FAQ that the 31mil limit will be lifted if there are other leftover funds. But yeah, we'll each probably see a few $.

Coburn
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Re: Equifax settlement: how to file claim?

Post by Coburn » Fri Jul 26, 2019 12:08 pm

student wrote:
Fri Jul 26, 2019 11:43 am
Coburn wrote:
Fri Jul 26, 2019 9:39 am
student wrote:
Fri Jul 26, 2019 9:26 am
Coburn wrote:
Thu Jul 25, 2019 4:58 pm
After entering my info, it says I was not affacted by the data breach.

I assume then that I can't file a claim. :?:
Did you do it using https://www.equifaxbreachsettlement.com/
Yep, used that link and it said my account wasn't leaked. Do I trust that statement and does it mean that there's nothing to pursue then?

I'm relieved that my info wasn't compromised more than anything else.
Interesting. They say it wasn't leaked based on just your name and address? It never asked me for the last 4 digit of SSN. Did they ask for the last4 digit of your SSN?
The link is there on the page. After entering lastname and last 6 digits of SSN, it will tell you if you were affected or not.

jbranx
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Re: Equifax settlement: how to file claim?

Post by jbranx » Fri Jul 26, 2019 12:21 pm

{Same topic merged here}

student
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Re: Equifax settlement: how to file claim?

Post by student » Fri Jul 26, 2019 12:24 pm

Coburn wrote:
Fri Jul 26, 2019 12:08 pm
student wrote:
Fri Jul 26, 2019 11:43 am
Coburn wrote:
Fri Jul 26, 2019 9:39 am
student wrote:
Fri Jul 26, 2019 9:26 am
Coburn wrote:
Thu Jul 25, 2019 4:58 pm
After entering my info, it says I was not affacted by the data breach.

I assume then that I can't file a claim. :?:
Did you do it using https://www.equifaxbreachsettlement.com/
Yep, used that link and it said my account wasn't leaked. Do I trust that statement and does it mean that there's nothing to pursue then?

I'm relieved that my info wasn't compromised more than anything else.
Interesting. They say it wasn't leaked based on just your name and address? It never asked me for the last 4 digit of SSN. Did they ask for the last4 digit of your SSN?
The link is there on the page. After entering lastname and last 6 digits of SSN, it will tell you if you were affected or not.
Oh. I did not check. I went ahead and filed a claim.

sksbog
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Equifax settlement - best option for claim

Post by sksbog » Fri Jul 26, 2019 1:10 pm

[Thread merged into here, see below. --admin LadyGeek]

Hello Bogleheads,

As many of you may have affected by Equifax data breach, i am wondering which is the most value to obtain, when filing a claim with them.
Here are the options:
1. Choose free credit monitoring, a cash payment (if you already have credit monitoring), or skip to the next section
[ I personally feel monitoring is useless and credit freeze is the best way to go about]
2. If you spent time recovering from the breach, you can request payment
3. If you lost or spent money because of the breach, you can request payment

Thoughts welcome.

Boglehead

DaftInvestor
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Re: Equifax settlement - best option for claim

Post by DaftInvestor » Fri Jul 26, 2019 1:11 pm

sksbog wrote:
Fri Jul 26, 2019 1:10 pm
Hello Bogleheads,

As many of you may have affected by Equifax data breach, i am wondering which is the most value to obtain, when filing a claim with them.
Here are the options:
1. Choose free credit monitoring, a cash payment (if you already have credit monitoring), or skip to the next section
[ I personally feel monitoring is useless and credit freeze is the best way to go about]
2. If you spent time recovering from the breach, you can request payment
3. If you lost or spent money because of the breach, you can request payment

Thoughts welcome.

Boglehead
Thoughts are on this page: viewtopic.php?f=2&t=286331

DaftInvestor
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Re: Equifax Settlement Claims

Post by DaftInvestor » Fri Jul 26, 2019 1:13 pm

ERISA Stone wrote:
Fri Jul 26, 2019 11:18 am
You have to certify you have current credit monitoring to get the $125. Anyone know exactly how that's defined? I have all my accounts frozen and receive notices on certain credit cards if there is any activity on my SSN, but that's about it.
This is a good question. It doesn't really define nor say if "Self Monitoring" doesn't count (If I have alerts for myself to download my credit reports myself every few months I wonder if I can count that :) ).

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1955Chevy
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Equifax Settlement

Post by 1955Chevy » Fri Jul 26, 2019 2:43 pm

[Topic merged into here -- moderator oldcomputerguy]

A friend pointed me to this online form to see if you are eligible for $125 settlement (or more based on further evidence) from Equifax. I was and supposedly $125 check is on the way. We’ll see if it’s actually going to happen but for a couple minutes work, seems worth it. Anyone else try it?
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WoodSpinner
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Re: Equifax Settlement

Post by WoodSpinner » Fri Jul 26, 2019 2:48 pm

I gave it shot as well....

We will see

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HueyLD
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Re: Equifax Settlement

Post by HueyLD » Fri Jul 26, 2019 3:04 pm

Yes, please file because Equifax needs to pay for its crime.

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Nate79
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Re: Equifax Settlement

Post by Nate79 » Fri Jul 26, 2019 3:09 pm

Agreed. I also filled it out.

student
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Re: Equifax Settlement

Post by student » Fri Jul 26, 2019 3:16 pm

Here is an earlier thread. viewtopic.php?f=2&t=286331

DesertDiva
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Re: Equifax Settlement

Post by DesertDiva » Fri Jul 26, 2019 3:24 pm

Yes, for myself and my DH (can't forget about my other half).

mariezzz
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Re: Equifax settlement: how to file claim?

Post by mariezzz » Fri Jul 26, 2019 3:30 pm

Here's another link:

https://krebsonsecurity.com/2018/09/cre ... age-begin/

What that link says if that if you really want to create a cost for Equifax, to freeze your credit. They get paid when businesses access your credit report, and if it's frozen, Equifax doesn't get paid. At least with some credit cards, if one credit report is frozen, they'll use a different company. Whether this is an option for you just depends on how sure you need to be that someone can access your credit reports. (I wouldn't advice this if planning to apply for a mortgage.)
It is now free in every U.S. state to freeze and unfreeze your credit file and that of your dependents, a process that blocks identity thieves and others from looking at private details in your consumer credit history. If you’ve been holding out because you’re not particularly worried about ID theft, here’s another reason to reconsider: The credit bureaus profit from selling copies of your file to others, so freezing your file also lets you deny these dinosaurs a valuable revenue stream.

dan23
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Re: Equifax settlement: how to file claim?

Post by dan23 » Fri Jul 26, 2019 3:46 pm

I thought the fact that the link was such a non-offical url website pretty crazy. It is legit, but found that out through going through the FTC page which actually takes you there: https://www.ftc.gov/enforcement/cases-p ... settlement. Articles should link to the FTC link and not directly to that fishy looking url.

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Re: Equifax settlement: how to file claim?

Post by Mel Lindauer » Fri Jul 26, 2019 3:49 pm

I took the $125 since I already have credit monitoring.
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Watty
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Re: Equifax settlement: how to file claim?

Post by Watty » Fri Jul 26, 2019 3:53 pm

For a couple can each of them make a $125 claim?

ww340
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Re: Equifax Settlement

Post by ww340 » Fri Jul 26, 2019 3:55 pm

Thank you! My husband and I were both impacted, so 2 claims filed.

I normally don't join class action suits, but Equifax has done us wrong more than once, so I will accept their money however small it might be.

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arcticpineapplecorp.
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Re: Equifax settlement: how to file claim?

Post by arcticpineapplecorp. » Fri Jul 26, 2019 4:34 pm

Watty wrote:
Fri Jul 26, 2019 3:53 pm
For a couple can each of them make a $125 claim?
I would assume so, because it's based on each person's SSN and if each were affected than it would be $125 per SSN, right? Twice the amount of victims, twice the amount of compensation only seems fair.
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theplayer11
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Re: Equifax settlement: how to file claim?

Post by theplayer11 » Fri Jul 26, 2019 5:45 pm

check your kids ss as well

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Phineas J. Whoopee
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Re: Equifax Settlement

Post by Phineas J. Whoopee » Fri Jul 26, 2019 6:28 pm

One time I received in the physical mail a notice that I was a member of a winning class. If I recall correctly, I could get $15 just for filling out the form and sending it in.

I intended to do that, but by the time it came back to the forefront of my mind the deadline had passed.

Today I came across a news story about the Equifax settlement. I suspended all other activity and filed my claim immediately. Fortunately for me there's no evidence of identity theft having cost me anything to ask reimbursement for. I took the ten years of credit monitoring option. Seven years of million-dollar identity theft insurance is included whether or not one fills out the form.

I also have ID theft insurance through my homeowner's policy, but I don't think I could get a discount by giving it up. It's a basic feature.

PJW

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Re: Equifax settlement: how to file claim?

Post by LadyGeek » Fri Jul 26, 2019 6:29 pm

Sorry, I can't verify if this is a family deal. I was impacted, my spouse was not.

I went for the $125 prepaid card, as I'm already covered by credit monitoring from another data breach. :?
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Re: Equifax settlement: how to file claim?

Post by LadyGeek » Fri Jul 26, 2019 6:49 pm

I merged sksbog's thread into the on-going discussion.
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Re: Equifax settlement: how to file claim?

Post by GJ48 » Fri Jul 26, 2019 6:59 pm

We were both impacted by the Illinois Blue Cross Blue Shield data breach ~2015 so we already had a freeze on our accounts at Equifax, Experian and Transunion. Thanks to Bogelheads and Krebs we became aware of our data at Innovis and ChexSystems so we put freezes on our files in September 2017.

We filed for free credit monitoring and 4 hours x $25/hour to cover the time/energy spent on freezing Innovis and ChexSystems.

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Re: Equifax settlement: how to file claim?

Post by DesertDiva » Fri Jul 26, 2019 7:02 pm

arcticpineapplecorp. wrote:
Fri Jul 26, 2019 4:34 pm
Watty wrote:
Fri Jul 26, 2019 3:53 pm
For a couple can each of them make a $125 claim?
I would assume so, because it's based on each person's SSN and if each were affected than it would be $125 per SSN, right? Twice the amount of victims, twice the amount of compensation only seems fair.
I entered my information and then my spouse's (in a separate session). Apparently we were both impacted by the breach. So I'm looking for two $125 checks instead of one.

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Re: Equifax settlement: how to file claim?

Post by LadyGeek » Fri Jul 26, 2019 7:19 pm

Now that my money is on its way, my second thought is "Is the settlement money taxable by the IRS?"

I found a helpful article: Taxation of Distributions From Qualified Settlement Fund | Finance - Zacks

Then, I checked the website: Settlement Agreement. I underlined the important part.
3.9 The Parties agree that the Consumer Restitution Fund is intended to be maintained as a qualified settlement fund within the meaning of Treasury Regulation § 1.468B-1, and that the Settlement Administrator, within the meaning of Treasury Regulation § 1.468B-2(k)(3), shall be responsible for filing tax returns and any other tax reporting for or in respect of the Consumer Restitution Fund and paying from the Consumer Restitution Fund any Taxes owed with respect to the Consumer Restitution Fund. The Parties agree that the Consumer Restitution Fund shall be treated as a qualified settlement fund from the earliest date possible, and agree to any relation-back election required to treat the Consumer Restitution Fund as a qualified settlement fund from the earliest date possible.
The answer is... No. I think.

Can someone who is familiar with settlement fund taxation please confirm?

I would assume state tax laws follow federal law, but I have no idea and will defer to the experts. I'm in PA.
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Phineas J. Whoopee
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Re: Equifax settlement: how to file claim?

Post by Phineas J. Whoopee » Fri Jul 26, 2019 7:28 pm

I have no definitive answer, but credit reports are personal, not group, so I should think each affected member of a family is individually eligible.
PJW

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Re: Equifax settlement: how to file claim?

Post by arcticpineapplecorp. » Fri Jul 26, 2019 8:06 pm

LadyGeek wrote:
Fri Jul 26, 2019 7:19 pm
Now that my money is on its way, my second thought is "Is the settlement money taxable by the IRS?"

I found a helpful article: Taxation of Distributions From Qualified Settlement Fund | Finance - Zacks

Then, I checked the website: Settlement Agreement. I underlined the important part.
3.9 The Parties agree that the Consumer Restitution Fund is intended to be maintained as a qualified settlement fund within the meaning of Treasury Regulation § 1.468B-1, and that the Settlement Administrator, within the meaning of Treasury Regulation § 1.468B-2(k)(3), shall be responsible for filing tax returns and any other tax reporting for or in respect of the Consumer Restitution Fund and paying from the Consumer Restitution Fund any Taxes owed with respect to the Consumer Restitution Fund. The Parties agree that the Consumer Restitution Fund shall be treated as a qualified settlement fund from the earliest date possible, and agree to any relation-back election required to treat the Consumer Restitution Fund as a qualified settlement fund from the earliest date possible.
The answer is... No. I think.

Can someone who is familiar with settlement fund taxation please confirm?

I would assume state tax laws follow federal law, but I have no idea and will defer to the experts. I'm in PA.
I'm no expert but I read that the part in red makes it seem that it's the settlement administrator's responsibility. Otherwise, wouldn't the administrators of the settlement be responsible to provide us all with 1099s which we then would be responsible to file on our returns? But maybe it means the administrator is responsible for issuing 1099s, because that constitutes tax reporting?
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Re: Equifax settlement: how to file claim?

Post by need403bhelp » Fri Jul 26, 2019 9:49 pm

Looking at the FAQ ( https://www.equifaxbreachsettlement.com/faq#q-10 , bold added for emphasis):

"10. What if I already have credit monitoring or identity protection services?

Settlement Benefit: Cash Alternative Reimbursement Compensation: If you already have some other kind of credit monitoring or protection services, and do not claim the free Credit Monitoring Services available through the settlement, you may file a claim for Alternative Reimbursement Compensation for up to $125.

...

If there are more than $31 million claims for Alternative Reimbursement Compensation, all payments for Alternative Reimbursement Compensation will be lowered and distributed on a proportional basis."

$31 million divided by $125 is 248,000.

Do I understand correctly that if 248,000 out of the $148 million people affected by the breach (0.17%) file a claim and opt for the $125 instead of the free credit monitoring, the payout will be reduced?

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Re: Equifax settlement: how to file claim?

Post by JBTX » Fri Jul 26, 2019 10:31 pm

As to credit monitoring, I have credit karma, and they claim to be credit monitoring. Good enough for me. I'm checking the box.

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Re: Equifax settlement: how to file claim?

Post by HueyLD » Fri Jul 26, 2019 10:49 pm

LadyGeek wrote:
Fri Jul 26, 2019 7:19 pm
Now that my money is on its way, my second thought is "Is the settlement money taxable by the IRS?"

I found a helpful article: Taxation of Distributions From Qualified Settlement Fund | Finance - Zacks

Then, I checked the website: Settlement Agreement. I underlined the important part.
3.9 The Parties agree that the Consumer Restitution Fund is intended to be maintained as a qualified settlement fund within the meaning of Treasury Regulation § 1.468B-1, and that the Settlement Administrator, within the meaning of Treasury Regulation § 1.468B-2(k)(3), shall be responsible for filing tax returns and any other tax reporting for or in respect of the Consumer Restitution Fund and paying from the Consumer Restitution Fund any Taxes owed with respect to the Consumer Restitution Fund. The Parties agree that the Consumer Restitution Fund shall be treated as a qualified settlement fund from the earliest date possible, and agree to any relation-back election required to treat the Consumer Restitution Fund as a qualified settlement fund from the earliest date possible.
The answer is... No. I think.

Can someone who is familiar with settlement fund taxation please confirm?

I would assume state tax laws follow federal law, but I have no idea and will defer to the experts. I'm in PA.
The law governing settlement funds is in this link https://www.law.cornell.edu/cfr/text/26/1.468B-3)

"The income tax return of the qualified settlement fund must be filed on or before March 15 of the year following the close of the taxable year of the qualified settlement fund unless the fund is granted an extension of time for filing under section 6081. The return must be made by the administrator of the qualified settlement fund. The “administrator” (which may include a trustee if the qualified settlement fund is a trust) of a qualified settlement fund is, in order of priority."


"In general, amounts transferred to the qualified settlement fund by, or on behalf of, a transferor to resolve or satisfy a liability for which the fund is established are excluded from gross income. However, dividends on stock of a transferor (or a related person), interest on debt of a transferor (or a related person), and payments in compensation for late or delayed transfers, are not excluded from gross income."

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Re: Equifax settlement: how to file claim?

Post by unclescrooge » Fri Jul 26, 2019 10:56 pm

nps wrote:
Thu Jul 25, 2019 9:19 pm
DaftInvestor wrote:
Thu Jul 25, 2019 3:48 pm
In order to get the $125 you have to certify that you do not already have credit monitoring (and I don't so I am not eligible for the $125).

I don't know if I'm really interested in Credit Monitoring - I supposed it can't hurt - but seems I am just going to be getting more junk mail from Equifax if I sign up.

That's not correct. In order to get the $125 you have to certify that you do already have credit monitoring.
I have a free service from credit karma that monitors any changes to my frozen credit. So there!

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Re: Equifax settlement: how to file claim?

Post by Nate79 » Sat Jul 27, 2019 6:21 am

JBTX wrote:
Fri Jul 26, 2019 10:31 pm
As to credit monitoring, I have credit karma, and they claim to be credit monitoring. Good enough for me. I'm checking the box.
+1

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Re: Equifax settlement: how to file claim?

Post by LadyGeek » Sat Jul 27, 2019 7:32 am

HueyLD wrote:
Fri Jul 26, 2019 10:49 pm
...The law governing settlement funds is in this link https://www.law.cornell.edu/cfr/text/26/1.468B-3)

"The income tax return of the qualified settlement fund must be filed on or before March 15 of the year following the close of the taxable year of the qualified settlement fund unless the fund is granted an extension of time for filing under section 6081. The return must be made by the administrator of the qualified settlement fund. The “administrator” (which may include a trustee if the qualified settlement fund is a trust) of a qualified settlement fund is, in order of priority."


"In general, amounts transferred to the qualified settlement fund by, or on behalf of, a transferor to resolve or satisfy a liability for which the fund is established are excluded from gross income. However, dividends on stock of a transferor (or a related person), interest on debt of a transferor (or a related person), and payments in compensation for late or delayed transfers, are not excluded from gross income."
Thanks, that answers one of my questions. (Further reading shows the section starts here: 26 CFR § 1.468B-1 - Qualified settlement funds.)

Where is the IRS tax guidance for persons receiving the fund distribution? I'm looking for a publication (or other guidance) that says something like "Distributions from a qualified settlement fund are not taxable".
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Re: Equifax settlement: how to file claim?

Post by F150HD » Sat Jul 27, 2019 9:04 am

anoop wrote:
Thu Jul 25, 2019 9:39 pm
Credit monitoring doesn’t prevent the data from getting breached, but if the data are misused then it provides a way to get quick notification. And they are marketing and selling credit monitoring services which is really as I mentioned rubbing salt into a wound that they have created in the first place.

I’m not sold on the credit freeze approach because I have a way of forgetting PINs, and resetting this one is a pain. These things tend to create delays at the worst possible times. And what happens when your PIN itself gets hacked?

Have you tried calling customer service at one of these bureaus? They are handling the most sensitive data with really incompetent staff.
that was the entire point of my prior post.
Being 'notified' one was breached after the fact, to me, is kinda meaningless. Damage is already done.

Freeze - for many here, its a no brainer.

You may want to do further reading for each major bureau, much has changed.

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HueyLD
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Re: Equifax settlement: how to file claim?

Post by HueyLD » Sat Jul 27, 2019 9:13 am

According to the IRC § 104(a)(2) and IRS Pub 525, lawsuit awards other than amounts related to personal physical injuries or sickness are includible in gross income.

If you receive a 1099-MISC, you will know to report it as “other income.” If you don’t receive a 1099-MISC, don’t worry about it.

H-Town
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Joined: Sun Feb 26, 2017 2:08 pm

Re: Equifax settlement: how to file claim?

Post by H-Town » Sat Jul 27, 2019 9:21 am

HueyLD wrote:
Sat Jul 27, 2019 9:13 am
According to the IRC § 104(a)(2) and IRS Pub 525, lawsuit awards other than amounts related to personal physical injuries or sickness are includible in gross income.

If you receive a 1099-MISC, you will know to report it as “other income.” If you don’t receive a 1099-MISC, don’t worry about it.
If you don’t receive 1099-MISC, you still need to include in your income if it’s taxable income according to the Code.

But this is a grey area. I’m not sure if this is a reimbursement of expense rather than an settlement from lawsuit. Would it be both? If so, would the compensation of your time is taxable and the $125 reimbursement is non-taxable?

IowaFarmWife
Posts: 174
Joined: Thu Nov 02, 2017 9:42 pm

Re: Equifax settlement: how to file claim?

Post by IowaFarmWife » Sat Jul 27, 2019 10:01 am

ladycat wrote:
Thu Jul 25, 2019 10:26 pm
DaftInvestor wrote:
Thu Jul 25, 2019 4:01 pm
anon_investor wrote:
Thu Jul 25, 2019 3:58 pm
$125 or free credit monitoring? What are people going to pick?
I personally would pick the former - but I just couldn't click the button for it because there is a statement saying you are certifying you already have monitoring (I blame my Christian upbringing).

Since the settlement isn't final yet - I wonder if the legal team involved can get this fixed (usually they are too busy negotiating their own large payment - I remember a class action I was involved in which resulting in me getting a $10 coupon for the problematic problem that was involved in the lawsuit - I didn't want the product. The legal team, of course, walked away with millions - while us "customers" that were impacted got $10 coupons).
I consider the monitoring that my Discover credit card offers to be "credit monitoring", so in good conscience, I clicked the button.
This is how we interpreted it, too. We have credit karma and credit alters through a few credit cards. Every time I take out a new credit card, I get tons of emails and text messages asking me if I recognize this new loan or CC.
“The quickest way to double your money is to fold it in half and put it in your back pocket.” —Will Rogers

ddunca1944
Posts: 932
Joined: Fri Apr 01, 2011 1:49 pm

Re: Equifax settlement: how to file claim?

Post by ddunca1944 » Sat Jul 27, 2019 4:57 pm

I filled it out but not spending it yet......

https://www.theverge.com/2019/7/26/8932 ... mpensation

tj
Posts: 2694
Joined: Thu Dec 24, 2009 12:10 am

Re: Equifax settlement: how to file claim?

Post by tj » Sat Jul 27, 2019 5:33 pm

DaftInvestor wrote:
Thu Jul 25, 2019 4:01 pm
anon_investor wrote:
Thu Jul 25, 2019 3:58 pm
$125 or free credit monitoring? What are people going to pick?
I personally would pick the former - but I just couldn't click the button for it because there is a statement saying you are certifying you already have monitoring (I blame my Christian upbringing).

Since the settlement isn't final yet - I wonder if the legal team involved can get this fixed (usually they are too busy negotiating their own large payment - I remember a class action I was involved in which resulting in me getting a $10 coupon for the problematic problem that was involved in the lawsuit - I didn't want the product. The legal team, of course, walked away with millions - while us "customers" that were impacted got $10 coupons).
How do you not already have credit monitoring? Wasn't it already given for free to anyone who was affected? Or was that a different breach?

DaftInvestor
Posts: 4814
Joined: Wed Feb 19, 2014 10:11 am

Re: Equifax settlement: how to file claim?

Post by DaftInvestor » Sat Jul 27, 2019 7:20 pm

tj wrote:
Sat Jul 27, 2019 5:33 pm
DaftInvestor wrote:
Thu Jul 25, 2019 4:01 pm
anon_investor wrote:
Thu Jul 25, 2019 3:58 pm
$125 or free credit monitoring? What are people going to pick?
I personally would pick the former - but I just couldn't click the button for it because there is a statement saying you are certifying you already have monitoring (I blame my Christian upbringing).

Since the settlement isn't final yet - I wonder if the legal team involved can get this fixed (usually they are too busy negotiating their own large payment - I remember a class action I was involved in which resulting in me getting a $10 coupon for the problematic problem that was involved in the lawsuit - I didn't want the product. The legal team, of course, walked away with millions - while us "customers" that were impacted got $10 coupons).
How do you not already have credit monitoring? Wasn't it already given for free to anyone who was affected? Or was that a different breach?
I don't have it because I never signed up for it. I believe they had a free offer but it had questionable terms and conditions as I recall. I simply froze all my credit so saw no benefit to monitoring.

ThankYouJack
Posts: 3032
Joined: Wed Oct 08, 2014 7:27 pm

Re: Equifax settlement: how to file claim?

Post by ThankYouJack » Sat Jul 27, 2019 7:36 pm

Aren't people going to get far less than $125? 147 million people impacted, only $31 million earmarked for claims. So if 1/5 people file a cash claim, that would be a whopping $1 back. I don't think I'll bother myself.

Am I missing something?

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