PSA: Signing up for the Equifax monitoring service requires agreeing not to sue them

[Anonymous]

Equifax is trying to get everyone who was impacted by their data breach to sign up for their monitoring solution.

Think carefully before you do that.

The terms of service have been written to indemnify them from any liability relating to the breach and further by signing up you agree not to participate in any class action lawsuit also them.

Here is a quote from the terms:

"You will be forfeiting Your right to bring or participate in any class action (whether as a named plaintiff or a class member) or to share in any class action awards, including class claims where a class has not yet been certified, even if the facts and circumstances upon which the Claims are based already occurred or existed."

Use somebody else's monitoring if you were affected 

[Anonymous]

Not only making yourself ineligible for the Class Action Lawsuits that are sure to come, how about this pretty important fact:

EQUIFAX CANNOT BE TRUSTED.

[DaveInAZ]

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@Anonymous wrote:

Equifax is trying to get everyone who was impacted by their data breach to sign up for their monitoring solution.

Think carefully before you do that.

The terms of service have been written to indemnify them from any liability relating to the breach and further by signing up you agree not to participate in any class action lawsuit also them.

Here is a quote from the terms:

"You will be forfeiting Your right to bring or participate in any class action (whether as a named plaintiff or a class member) or to share in any class action awards, including class claims where a class has not yet been certified, even if the facts and circumstances upon which the Claims are based already occurred or existed."

Use somebody else's monitoring if you were affected 

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I appreciate the spirit of your PSA, and think carefully before doing anything is always good advice.

But in my opinion, the ToS governs the use of TrustedID Inc's products or services, it has no affect relating to Equifax's data breach liabilities and the legal rights of those affected. TrustedID is wholly owned by Equifax, but Trusted ID Inc. is one legal entity and Equifax Consumer Services LLC is another, different legal entity, and the ToS only relate to TrustedID Inc.

Here is a link to the ToS, and folks can make their own decisions:

https://trustedidpremier.com/static/terms

When I checked I was told I may be affected and was given an enrollment date of Monday, 9/11. I'm planning to enroll.

[DaveInAZ]

Equifax has updated their pubic statements on the data breech with this statement:

• The arbitration clause and class action wavier included in the TrustedID Premier Terms of Use applies to the free credit file monitoring and identity theft protection products, and not the cybersecurity incident.

https://www.equifaxsecurity2017.com/frequently-asked-questions/

Click on the tab "FAQs for Consumers", last item "Do the TrustedID Terms of Use limit my options related to the cyber security incident?"

Thanks again, Canadian-In-Seattle, for the PSA so that MyFico members can make their own informed decision.