Equifax Settlement "Finally" Finalized and Class Counsel Awarded 77.5 Million Plus Expenses

The Equifax Settlement was approved today by the US District Court Judge Thomas W. Thrash Jr. The deadline for claims is January 20th, 2020. The settlement calls for up to $20,000.00 for those who had out of pocket expenses to fix their credit. It also awarded $125.00 to those who filed as claimants AND who pick the cash option. If you were seeking a nice check in the mail that doesn’t look like it’s going to happen. They only set aside a cap of 31 million dollars. About 147 million customers were identified by Equifax as affected by the breach. Dividing that number into $31 million would yield .21 USD per person if everyone affected filed. So you are going to be better off with yet another credit monitoring service. The settlement calls for 10 years of credit monitoring. The settlement document lists the last names, first initial and state of all those who opted out of the settlement agreement. Fortunately, this is not PII. The big winner was the law firm(s) who acted as class counsel. They were awarded 77.5 million plus expenses. :slight_smile:

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