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Equifax will reportedly pay $700 million in fines due to the 2017 security breach

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Community Leader
Super Contributor

Re: Equifax will reportedly pay $700 million in fines due to the 2017 security breach


@CassieCard wrote:

The website now provides a way to check if you are eligible to file a claim.

 

I decided to take the $125 'Alternative Reimbursement Compensation' over the 4 year free credit monitoring option.

 

Then I noticed this:

"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."

 

Great. So I'd have to hope that less than 248,000 people apply for the $125 to get the full amount. Looking forward to my $1.28 check.


I guess it would have been too much like right that if I were the 249K person, I would automatically be converted to the 4-yr monitoring. I’m already mad because like you, I’m imagining $1.28 🤬

 

I applied yesterday. When did y’all apply. 

GOALS: Garden til APR 2020 and 800 Club


SEP 2019: EX 791, TU 797, EQ 800
JUN 2019: EX 788, TU 794, EQ 779
DEC 2018: EX 777, TU 783, EQ 799

|| AmX Cash Magnet $25K || NFCU CashRewards $20K || Macy's $20K || Discover IT $18.7K || NFCU CLOC $15K || NFCU Platinum $12.5K || AmX ED $11.5K || CitiCostco $7K || CitiDC $6.3K ||
Message 31 of 71
Moderator

Re: Equifax will reportedly pay $700 million in fines due to the 2017 security breach

The general public is not likely even aware of this, they are busy with other things on their minds, the only place you would normally find such things advertised are in magazines like AARP, Readers Digest and the like, then again most dont even bother to file. I did not think I had been affected, glad I decided to check, I filed for the cash payment today.

"If there's a lack of money in your life, understand that feeling worried, envious, jealous, disappointed, discouraged, doubtful or fearful about money can never bring more money to you, because those feelings come from a lack of gratitude for the money you have."

"Reactions are powerful creators because they contain every element needed to manifest—they're a combination of thought, belief, and feeling in action. Positive reactions create more positive things, and negative reactions create more negative things. If you can respond to negative situations calmly and lightly, instead of with emotional turbulence, what happens next in your life will be so much better."

- Rhonda Byrne

Message 32 of 71
Community Leader
Super Contributor

Re: Equifax will reportedly pay $700 million in fines due to the 2017 security breach


@gdale6 wrote:

The general public is not likely even aware of this, they are busy with other things on their minds, the only place you would normally find such things advertised are in magazines like AARP, Readers Digest and the like, then again most dont even bother to file. I did not think I had been affected, glad I decided to check, I filed for the cash payment today.


This is what I’m hoping for. 

GOALS: Garden til APR 2020 and 800 Club


SEP 2019: EX 791, TU 797, EQ 800
JUN 2019: EX 788, TU 794, EQ 779
DEC 2018: EX 777, TU 783, EQ 799

|| AmX Cash Magnet $25K || NFCU CashRewards $20K || Macy's $20K || Discover IT $18.7K || NFCU CLOC $15K || NFCU Platinum $12.5K || AmX ED $11.5K || CitiCostco $7K || CitiDC $6.3K ||
Message 33 of 71
Senior Contributor

Re: Equifax will reportedly pay $700 million in fines due to the 2017 security breach


@gdale6 wrote:

The general public is not likely even aware of this, they are busy with other things on their minds, the only place you would normally find such things advertised are in magazines like AARP, Readers Digest and the like, then again most dont even bother to file. I did not think I had been affected, glad I decided to check, I filed for the cash payment today.


Right, but 248k people is a far cry from the 'general public' ($31 mil. cap /$125 payout) Probably more people than that read Doctor of Credit which has posted prominently about this, although yeah probably far fewer than that bother with MyFico.


Fico 08: 734/716/734 TU/EX/EQ
Message 34 of 71
Regular Contributor

Re: Equifax will reportedly pay $700 million in fines due to the 2017 security breach

It's all over the local news here in Ohio. They even set up links on the TV stations website. 

 

I think I'm going to opt out. I'm not giving up any rights for what could be 3 dollars. 

That's just me. You know, Just in case. Smiley Happy 

Message 35 of 71
Highlighted
Senior Contributor

Re: Equifax will reportedly pay $700 million in fines due to the 2017 security breach


@CreditInspired wrote:

@gdale6 wrote:

The general public is not likely even aware of this, they are busy with other things on their minds, the only place you would normally find such things advertised are in magazines like AARP, Readers Digest and the like, then again most dont even bother to file. I did not think I had been affected, glad I decided to check, I filed for the cash payment today.


This is what I’m hoping for. 


The NY Post is hardly one of my more trusted news sources, but this jumped out at me in my Google News feed -

Americans go crazy over Equifax data breach reimbursements

Interest in Equifax jumped on Thursday after regulators announced the company will be paying up to $20,000 to victims of its massive 2017 security breach.

Equifax, known for doling out consumer credit ratings, became the No. 1 trending topic on Google Thursday as consumers searched for how they might pocket a little bit of that dough, according to trends.google.com. 


Fico 08: 734/716/734 TU/EX/EQ
Message 36 of 71
Valued Contributor

Re: Equifax will reportedly pay $700 million in fines due to the 2017 security breach


@WolfMan wrote:

It's all over the local news here in Ohio. They even set up links on the TV stations website. 

 

I think I'm going to opt out. I'm not giving up any rights for what could be 3 dollars. 

That's just me. You know, Just in case. Smiley Happy 


That's what I was thinking....nobody would have gotten anything worth while on my end anyway, but ynk. Would rather wait and see.

"My Take Home Pay Don't Take Me Home"
Message 37 of 71
Regular Contributor

Re: Equifax will reportedly pay $700 million in fines due to the 2017 security breach

I didn't think I was affected but I decided to apply.  Said after the first screen I was affected.

 

Can't wait to get my check for $1.28 Smiley LOL






Message 38 of 71
Moderator

Re: Equifax will reportedly pay $700 million in fines due to the 2017 security breach

Not a word in the local news where I am but I live in no mans land, doesnt surprise me. A lot of people think the internet is where everyone is at, it isn't. I also know lots of people who never use it at home or on their smartphones. Oh well it is what it is if its $1.28 then its $1.28 more than I have now....
"If there's a lack of money in your life, understand that feeling worried, envious, jealous, disappointed, discouraged, doubtful or fearful about money can never bring more money to you, because those feelings come from a lack of gratitude for the money you have."

"Reactions are powerful creators because they contain every element needed to manifest—they're a combination of thought, belief, and feeling in action. Positive reactions create more positive things, and negative reactions create more negative things. If you can respond to negative situations calmly and lightly, instead of with emotional turbulence, what happens next in your life will be so much better."

- Rhonda Byrne

Message 39 of 71
Moderator Emeritus

Re: Equifax will reportedly pay $700 million in fines due to the 2017 security breach

@gdale6  MyFicoers just can't let a dollar slide through their fingers. Smiley Happy

Reminds me, I got $107 in the AT&T Settlement that was back so far I forgotten I even had had AT&T Service!

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Message 40 of 71
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