Want To Get Paid $125 Or More? Here's How To File A Claim, Make Money After Equifax Data Breach

Those whose data was compromised by the 2017 Equifax data security breach are entitled to a $125 payment or greater. The Equifax Data Breach Settlement official website has been posted this week and is accepting claims.

In September 2017, consumer credit reporting agency Equifax claimed that there was a security breach that exposed the personal information of 147 million people, forcing the company to reach a settlement with the Federal Trade Commission (FTC).

The personal information that could be leaked in the breach includes addresses, social security numbers, names and birthdates.

The settlement with the FTC required Equifax to pay as much as $425 million to those affected by the breach. The company would have to pay up to $700 million in total.

So how do qualifiers receive their payments?

Equifax's site determines those who qualify for the $125 payment and more. Qualifiers can then file the claim with the $125 being paid as a check or as a pre-paid card.

The process is very simple and determining qualification takes a matter of seconds. Equifax asks for the last six digits of a user's Social Security number, as well as the birthdate and a mailing address.

Some may feel uneasy about providing personal information to a company that has abused privacy but Equifax already has that information and much more.

Qualifiers could also elect to have 10 years of credit monitoring done by the company. Those who had losses as a result of the breach could receive up to $20,000.

Qualifiers could also get seven years of "identity restoration service" if their identity was stolen as a result of the breach.

The opt-out deadline is Nov. 19 and the deadline to file a settlement claim is Jan. 22.

Other breaches in recent years included the 2016 breach of the ridesharing company Uber, which affected 57 million driver and rider accounts and cost the company $148 million. Hotel chain Mariott also had a data breach in 2018 which affected the reservation records of 500 million customers.