FTC: Equifax might run out of cash, so please take the credit monitoring

Equifax might run out of settlement money

August 1, 2019

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If you are hoping for some settlement money from Equifax, you should know that the Federal Trade Commission is warning that the funds may run out.

The payment option of $125 is capped at $31-million from the 2017 cybersecurity breach and consumers who haven't submitted a claim are now being urged to consider free credit monitoring instead.

In case you are wondering, that option is worth hundreds of dollars and comes with identity theft insurance and restoration services. If you've already chosen the cash option, expect an email asking you to either submit more information or switch to free credit monitoring, which option would you choose and why.  

If you haven't yet submitted your information, click the Federal Trade Commission's Equifax Breach Settlement page to get all the info.