In September of 2017, Equifax announced a data breach that exposed the personal information of 147 million people. The company has agreed to a global settlement with the Federal Trade Commission, the Consumer Financial Protection Bureau, and 50 U.S. states and territories. The settlement includes up to $425 million to help people affected by the data breach.
Here’s what you need to do to determine whether your credit data has been compromised and the options that you have if your social security number appears as one of the 147 million credit records.
Use this link to the FTC and enter in the last 6 digits of your social security number. (WARNING: there are other websites out there that are asking for your information. Don’t use them—use this one – https://www.ftc.gov/enforcement/cases-proceedings/refunds/equifax-data-breach-settlement )
The website will tell you whether you are eligible to file a claim.
There are 4 claim options:
Cash or Pre-paid credit card of $125
Or, Free credit monitoring for 4 years and $1 million dollars of identity theft insurance
Or, free credit monitoring for 6 years (no insurance)
Or, You incurred loss of money and time due to identity theft. If you claim less than 10 hours, you must describe the actions that you took to fix the issues. If you claim 10 hours or more, you must provide documentation. Maximum claim is $20,000.
Your claim must be filed by January 22, 2020.
Claims will be reviewed starting January 23, 2020 but no date has been set when the money will be sent or the credit monitoring option will begin.
One more thing…It used to be that you could ask for one free credit report per year. Now as part of the settlement, consumers can get up to 6 credit reports per year from Equifax for up to 7 years.
Published by Heather Paige Moody
Welcome! I'm Heather ( AKA: Paige) Moody . A Little About me: I was born and raised in a small town in Eunice, Louisiana where I started my first mortgage company in 2005 at the age of 21 years old. Since 2005 I’ve grown to know everything when it comes to the industry, from owning a mortgage company, processing loans, mortgage underwriting rules, to now managing.
Why I’m in the Mortgage Business:
My family has a history of Banking and real estate . I could see at an early age how satisfying the real estate profession was for them, so I started off as a Real Estate agent and quickly realized that the mortgage side was my passion.
I am a mother of 4 very active kids that have been/ are being raised in the Real Estate /mortgage world. I have always said that their first baby blanket was a file folder.
I love to be able to teach that going the extra mile for others is such a blessing to us as well as the other person. Most importantly that no matter what the obstacle is that we must work hard and give it our all in all that we do. Our family lives at a field or a gym for most of the year. Between baseball, cheer, volleyball, football and anything they can possibly sing up for, I have developed little-known disease called Bleacher Butt.
When I am not working ( or should I say.. not behind my desk) or attending an event for one of the kids . I really enjoy bible studies , reading and listening to podcast. My children go to 2 different schools and I am so blessed to be part of two Mom’s in Prayer groups. It is a National Organization that Moms can get together to pray for our children and our school.
As the Southern Mortgage Mom, I help homebuyers and Real Estate Agents make the Mortgage buying process as stress free as possible. I have been called the miracle worker by clients and agents( on occasion) because I have saved some mortgage loans that others have denied . It has nothing to do with miracles , but all to do with knowing how to get a loan approved.
If I am lucky enough that you chose me or my team as your go to lender, I promise that I will be fair, I will be honest and you will feel like family when you sign the final papers and I will keep in touch (till you tell me not to) long after the mortgage loan is closed. Looking forward to working with you when it comes time to buy a home or refinance your current mortgage.
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