Not sure if you all heard about the Equifax Data Breach of 2017.
Soon as I found out I put in a claim immediately and I wanted to share the information with you all.
I did a blog on it a few months back this is basically an update for those who did not receive the information back in 2019.
There was a class action suit introduced July 22nd 2019, If you do some research you will find out that the data breach goes all the way back to 2017.
Equifax is admitting that about 147 million people were affected.
This specific breach affected the personal information of the victims which may include account information, Social Security numbers and other personal information. Equifax is not being honest and straight forward about what was collected, only thing the company admits is the breach was due to a employee error. Other articles say it was done by a hacker so there is no real way to know what caused the breach.
Equifax original reaction to the breach was to offer a one time $125 payment or free credit monitoring through all four credit monitoring companies for up to four years.
Right after the class action suit was introduced the commissioner suggested that the victims forfeit the $125 payment and opt in to the free credit monitoring. I am guessing this statement is based on the fact that the payments will be prorated they are saying that you might not get no more than $0.21 based on how many people put in their claim. A fund of 575 million up to 700 million was set up to pay the victims.
In order for the victims to receive there $125 payment the maximum claimants would have to be no more than 248,000 victims and honestly that is not even a large percentage of the 147 million victim so in my opinion this is a total loss for the American people. So basically a large credit company such as Equifax can be breached and the victims will not get compensated although they may face a lot of problems in the future. This is a very serious data breach and the American people should not be forced to jump through hoops in order to be compensated for Equifax mistakes they need to be held accountable just like they would hold us accountable if something was to happen and we were the cause of it.
For more information of the Equifax Data breach click the links below.
Please don’t wait to put in your claim because they are only giving the victims to January 20, 2020
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