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“Free” $125 from Equifax!

Equifax is Giving You $125 for Leaking Your Financial Data

Readers, the time has come for Equifax’s data breach to come full circle and pay you some sweet sweet cash in return for your most sensitive of data.

Were you one of the 147 million Americans with hacked data? Odds are pretty good you are (my wife and I both were). You can check if you were here.

So Equifax let slip your digital identity to whoever is now selling it on the dark web, now what? Well, you get a sweet cut of the $425M settlement Equifax is paying out, at least $125 of that bad boy, and even more if you can prove damages and time spent fixing those damages to the tune of $25/hour (max 20 hours). I would be reeeeeally careful claiming any time with really legit documentation because perjury is not worth the $250 you are allowed to self certify. Documents must be uploaded for damage claims and the $10/month I pay for the Experian app probably isn’t worth the legal hassle.

Or You Can Get Credit Monitoring

The other guaranteed option (must pick cash or service) is 4 years of 3 bureau credit monitoring and then 6 years of Equifax monitoring. If you have banking relationships with USAA, Chase, Turbo Tax, Credit Karma, or pay for credit monitoring in some way, you already have this and the cash is likely a tastier option. I’ll once again warn you that I am not a lawyer and you should not take legal advice from a military travel hacking blog, I’m just giving you my thoughts towards cash in hand.

Perhaps you are an astute reader and did some quick math and are thinking, $425M divided by 147M is only around $3 per affected American. Yeah, you are right, there doesn’t seem to be enough money. My bet is that this will end up being a first come first paid out affair and that means you should check your eligibility and claim your pie piece now before the majority of America.

Bottom line is this is an easy $125 in your pocket sometime in Jan/Feb next year (legally can’t payout sooner than that). So do future you a favor and be pleasantly surprised next year when Equifax surprises you with a check in the mail when all you had to do was click some buttons and give up all your personal financial data.

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