FILE PHOTO: Credit reporting company Equifax Inc. offices are pictured in AtlantaTami Chappell/ReutersEquifax customers who filed a claim to receive $125 in compensation for the credit monitoring agency's 2017 data breach now must verify or amend their claims before October 15 to receive their money.
Equifax's hack exposed the personal information of nearly 147 million people. Exposed data included names, dates of birth, social security numbers, genders, phone numbers, email addresses, passports, and drivers' licenses.
After a class-action lawsuit, Equifax agreed to pay victims of the data breach $125 each if they filed a claim. Victims could be eligible for compensation up to $20,000 for time spent remedying fraud, out-of-pocket losses due to the data breach, or 25% of the cost of Equifax products paid for one year in advance of the data breach announcement.Over the weekend, Equifax sent an email to folks who filed a claim asking them to do two things:
1. Verify that they were using an alternate credit monitoring service when they filed the claim, and provide the name of that credit service.
2. Confirm that they wish to receive "alternate compensation" ($125) instead of free credit monitoring from Equifax.
From the email, claimants are directed to Equifax's official settlement website, where they can input their claim number, give the name of their alternate credit monitoring service, and finally, indicate whether they would like to receive cash, at least four years of free credit monitoring, or nothing:
Equifax/Business InsiderThe same process can be completed through the mail. Claimants have until October 15, 2019 to verify or amend their claims. However, the email notes that the actual payout might be below $125 per claimant, due to the number of claims.
Equifax did not respond to Business Insider's request for more information on the compensation.