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Submit Your Claim in the Equifax Breach Settlement

equifaxbreachsettlement.com

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Re: Submit Your Claim in the Equifax Breach Settlement

#111

Post by harryh »

stanmancan wrote: post #101
harryh wrote: post #86

Earlier quoted context omitted.

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.

I think the important part of the parent post is "It's a stretch to call something opt-in when it's unavoidable in modern life."

You can easily get through modern life without taking out a loan from the financial system. I'm 41 years old and I've never had a home or car loan. I have credit cards, but I easily could have gotten by using debit cards instead.

Re: Submit Your Claim in the Equifax Breach Settlement

#112

Post by harryh »

mikeash wrote: post #102
harryh wrote: post #83

Earlier quoted context omitted.

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

It’s opt in, in the sense that you can refrain from participating in the modern financial system if you want to avoid it.

Yes, if you want people to loan you money at low interest rates you have to agree to the system whereby if you don't pay things back the system will keep track of that and not loan you money at such low rates again.

That seems pretty reasonable.

Re: Submit Your Claim in the Equifax Breach Settlement

#113

Post by soulofmischief »

harryh wrote: post #111
stanmancan wrote: post #101

Earlier quoted context omitted.

I think the important part of the parent post is "It's a stretch to call something opt-in when it's unavoidable in modern life."

You can easily get through modern life without taking out a loan from the financial system. I'm 41 years old and I've never had a home or car loan. I have credit cards, but I easily could have gotten by using debit cards instead.

So your financial history is being tracked and scrutinized. At 41, you might be able to live and die without this being a big problem. In my 20s, I worry about my ability to secure healthcare and other such necessities in my later life based on a social credit score which includes financial credit history I never opted into. Just getting on a lease is enough for a credit pull. It's unavoidable.

Re: Submit Your Claim in the Equifax Breach Settlement

#114

Post by blackflame7000 »

thedanbob wrote: post #108
Spellman wrote: post #87

Earlier quoted context omitted.

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.

I wonder. When I bought my first house it was a very simple process because my finances were very simple. For the second, which I’m still in the process of finalizing, it’s been an absolute nightmare. Both my wife and I have credit scores above 800, but add just a few unusual financial elements to the mix and the underwriters start having aneurysms. Take away those nice shiny credit scores and I imagine many banks wo…

> a few unusual financial elements to the mix

Isn't this the definition of a red flag? All you are is a profile to them so any unusual activity is going to draw scrutiny whether it's warranted or not. They have to do due diligence.

Re: Submit Your Claim in the Equifax Breach Settlement

#115

Post by cowpig »

harryh wrote: post #112
mikeash wrote: post #102

Earlier quoted context omitted.

It’s opt in, in the sense that you can refrain from participating in the modern financial system if you want to avoid it.

Yes, if you want people to loan you money at low interest rates you have to agree to the system whereby if you don't pay things back the system will keep track of that and not loan you money at such low rates again. That seems pretty reasonable.

That goal seems reasonable, but it seems you're implying that therefore the credit system is reasonable, which doesn't follow.

Re: Submit Your Claim in the Equifax Breach Settlement

#116

Post by markdown »

jammygit wrote: post #96

By comparison, here's somebody who sued them in small claims court and won $8000: https://blog.legalist.com/i-won-8-000-from-equifax-in-small-... an update about winning the appeal afterwards (edit: apparently they got it reduced to $5500): https://blog.legalist.com/i-fought-equifaxs-lawyer-in-court-...

TIL you can appeal a small claims court judgement.

Re: Submit Your Claim in the Equifax Breach Settlement

#117

Post by cowpig »

harryh wrote: post #111
stanmancan wrote: post #101

Earlier quoted context omitted.

I think the important part of the parent post is "It's a stretch to call something opt-in when it's unavoidable in modern life."

You can easily get through modern life without taking out a loan from the financial system. I'm 41 years old and I've never had a home or car loan. I have credit cards, but I easily could have gotten by using debit cards instead.

Well, if it worked out for you I guess that settles the debate!

Wait, I think it's _disproof_ that relies on one _counter_ example. I guess it's easy to get confused.

Re: Submit Your Claim in the Equifax Breach Settlement

#118

Post by harryh »

soulofmischief wrote: post #113
harryh wrote: post #111

Earlier quoted context omitted.

You can easily get through modern life without taking out a loan from the financial system. I'm 41 years old and I've never had a home or car loan. I have credit cards, but I easily could have gotten by using debit cards instead.

So your financial history is being tracked and scrutinized. At 41, you might be able to live and die without this being a big problem. In my 20s, I worry about my ability to secure healthcare and other such necessities in my later life based on a social credit score which includes financial credit history I never opted into. Just getting on a lease is enough for a credit pull. It's unavoidable.

It's easy to sign a lease with no credit history. At most they'll just ask for a bigger security deposit.

Re: Submit Your Claim in the Equifax Breach Settlement

#119

Post by harryh »

cowpig wrote: post #117
harryh wrote: post #111

Earlier quoted context omitted.

You can easily get through modern life without taking out a loan from the financial system. I'm 41 years old and I've never had a home or car loan. I have credit cards, but I easily could have gotten by using debit cards instead.

Well, if it worked out for you I guess that settles the debate! Wait, I think it's _disproof_ that relies on one _counter_ example. I guess it's easy to get confused.

It's easy for anyone. Credit cards aren't an essential service necessary for modern life.

Re: Submit Your Claim in the Equifax Breach Settlement

#120

Post by scott00 »

cbau wrote: post #107
jammygit wrote: post #96

By comparison, here's somebody who sued them in small claims court and won $8000: https://blog.legalist.com/i-won-8-000-from-equifax-in-small-... an update about winning the appeal afterwards (edit: apparently they got it reduced to $5500): https://blog.legalist.com/i-fought-equifaxs-lawyer-in-court-...

Really interesting! Does submitting a claim here prevent you from suing Equifax in small claims court? It seems possible that a $5000 may be worth my time.

Not only does submitting a claim prevent you from suing Equifax, the only way to preserve your right to sue is to actively exclude yourself from the settlement. See FAQs 19 and 23.

19: https://www.equifaxbreachsettlement.com/faq#q-19

23: https://www.equifaxbreachsettlement.com/faq#q-23

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