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Submit Your Claim in the Equifax Breach Settlement

equifaxbreachsettlement.com

81–90 of 210 posts

Re: Submit Your Claim in the Equifax Breach Settlement

#81

If this breach affected 147M people (which is what I can find from various articles), and $700M was set aside (before attorney fees), and most claims will be $125, that's only ~4M people who will get $125. Are they expecting very few people to file claims? Or what am I missing?

Sounds like a great payout for the lawyers, but a terrible one for individuals. I bet you have to sign off on 'never holding equifax liable again for this breach' as part of your free monitoring

Re: Submit Your Claim in the Equifax Breach Settlement

#82
post #60

I don't want money. I don't want free service. I don't want any compensation. I want Equifax as a company to be dissolved for incompetency with private data, and I want a way to legally opt out of other such companies collecting and aggregating private data about me.

> I want a way to legally opt out of other such companies collecting and aggregating private data about me. Compare a desire to legally opt out (after checking a box, agreeing to a privacy policy you never read, having your data from 10 years ago - with a chain of custody/dispersal that's probably untenable, if not impossible, to map by now - synthesized by a third party) to GDPR's concept of consent: "The key point…

As reificator says, the idea is making headway. Politics require compromise. Ideally it would be opt-in, with strict regulations and severe penalties still in place.

Re: Submit Your Claim in the Equifax Breach Settlement

#83
post #60

I don't want money. I don't want free service. I don't want any compensation. I want Equifax as a company to be dissolved for incompetency with private data, and I want a way to legally opt out of other such companies collecting and aggregating private data about me.

> I want a way to legally opt out of other such companies collecting and aggregating private data about me. Compare a desire to legally opt out (after checking a box, agreeing to a privacy policy you never read, having your data from 10 years ago - with a chain of custody/dispersal that's probably untenable, if not impossible, to map by now - synthesized by a third party) to GDPR's concept of consent: "The key point…

Equifax tracking is opt-in. It's a term on any loan or credit card you take out.

Re: Submit Your Claim in the Equifax Breach Settlement

#84

If this breach affected 147M people (which is what I can find from various articles), and $700M was set aside (before attorney fees), and most claims will be $125, that's only ~4M people who will get $125. Are they expecting very few people to file claims? Or what am I missing?

You can actually get more than $125 if you prove that you suffered a loss, or spent time fighting fraud on your account to the tune of $25/hr

$25/hr is peanuts

Re: Submit Your Claim in the Equifax Breach Settlement

#85
post #83
post #60

Earlier quoted context omitted.

> I want a way to legally opt out of other such companies collecting and aggregating private data about me. Compare a desire to legally opt out (after checking a box, agreeing to a privacy policy you never read, having your data from 10 years ago - with a chain of custody/dispersal that's probably untenable, if not impossible, to map by now - synthesized by a third party) to GDPR's concept of consent: "The key point…

Equifax tracking is opt-in. It's a term on any loan or credit card you take out.

That's like when websites say I've opted into such and such just by visiting the website. It's a stretch to call something opt-in when it's unavoidable in modern life.

Re: Submit Your Claim in the Equifax Breach Settlement

#86
post #83

Earlier quoted context omitted.

Equifax tracking is opt-in. It's a term on any loan or credit card you take out.

That's like when websites say I've opted into such and such just by visiting the website. It's a stretch to call something opt-in when it's unavoidable in modern life.

It's not like that at all.

When you take out a loan or credit card you sign a legal document agreeing to all of the various terms. You don't sign anything when visiting a website.

Re: Submit Your Claim in the Equifax Breach Settlement

#87
post #69

I don't want money. I don't want free service. I don't want any compensation. I want Equifax as a company to be dissolved for incompetency with private data, and I want a way to legally opt out of other such companies collecting and aggregating private data about me.

"I want a way to legally opt out of other such companies collecting and aggregating private data about me." The problem is this also means you will be completely opting out of the credit system. No more morgtgages, no more credit cards, no more car loans. I'm afraid it's kind of a necessary evil.

Technically you can still get loans and credit. It's just a lot harder and requires more underwriting and proof instead of having a single, handy Credit Score number attached to you from various agencies.

Re: Submit Your Claim in the Equifax Breach Settlement

#88

If this breach affected 147M people (which is what I can find from various articles), and $700M was set aside (before attorney fees), and most claims will be $125, that's only ~4M people who will get $125. Are they expecting very few people to file claims? Or what am I missing?

According to the FAQ if more than $31 million in claims are made, the amount of the payment will be reduced. So, the number of people who can receive $125 is ~250,000. I can't imagine they'll get fewer claims than that given how many people were included in the breach.

That's just wild. Where's the rest of the money going?

Source: https://www.equifaxbreachsettlement.com/faq#q-10

Re: Submit Your Claim in the Equifax Breach Settlement

#90

If this breach affected 147M people (which is what I can find from various articles), and $700M was set aside (before attorney fees), and most claims will be $125, that's only ~4M people who will get $125. Are they expecting very few people to file claims? Or what am I missing?

You can actually get more than $125 if you prove that you suffered a loss, or spent time fighting fraud on your account to the tune of $25/hr

I suspect that's a ceiling, and payouts will receive a proportional haircut if claims exceed what's been set aside.
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