Equifax Class Action Settlement 2025: Know Eligibility, Payout Amount & Date!

Equifax Class Action 🔎Settlement 2025: Data security breaches in the digital age are not just technical issues but they directly impact the lives of millions of people. One such big example is the Equifax data breach that happened in 2017, in which sensitive information of about 147 million Americans was leaked. The impact of this incident lasted for years and now, the process of getting justice for the affected people has begun.

A settlement of more than $425 million has been reached to settle this data breach, which is an effort to compensate the financial and emotional losses of the individuals affected by the data theft. If you have also been affected by this incident, then you need to know about your eligibility, the amount of compensation and the process to get it.

Why was the Equifax data breach settled?

The Equifax data breach case was not limited to personal data theft but it also raised questions on the protection of consumer information by major companies. As a result of this breach, Equifax agreed to this settlement, so that financial relief and security services can be provided to the affected people.

The settlement has been reached in collaboration with the Federal Trade Commission (FTC), the Consumer Financial Protection Bureau (CFPB), and various US states and territories. Under the settlement, affected individuals will be provided financial compensation, free identity restoration services, and other security measures.

Equifax Class Action Settlement 2025: Key Information

Detail	Information
Company Involved	Equifax
Total Settlement Fund	More than $425 million
Number of Affected	Approximately 147 million
Claim Deadline	January 22, 2024
Payment Start Date	To be announced (soon)
Settlement Category	Finance / Data Breach
Official Website	www.equifaxbreachsettlement.com

Equifax Class Action Settlement 2025: Eligibility Criteria

You must meet the following eligibility criteria to receive Equifax data breach compensation:

1. Data theft: Your personal data was leaked in the 2017 Equifax breach.
2. Proof of loss: If you have suffered any kind of financial loss, documentation of the same must be
3. submitted. This includes:
   • Receipt of credit monitoring service
   • Credit freeze fees
   • Documentation of time spent resolving fraud

Affected individuals can also receive compensation for the time spent resolving the problem, such as contacting the credit bureaus or resolving fraudulent charges.

Compensation options available to affected individuals

Under the Equifax settlement, affected individuals are offered different types of compensation:

1. Payment for financial losses

People who have suffered financial losses due to this data breach can file a claim for reimbursement of their expenses. These expenses may be related to:

• Identity theft
• Cost of retrieving documents
• Fraud prevention services
• Cost of hiring a professional

The maximum payment limit can be up to $20,000, depending on the documents and approval of the claim.

2. Payment for time

If you have spent time resolving this issue, you can get paid for a maximum of 20 hours at a rate of up to $25 per hour.
This includes:

• Contacting financial institutions
• Credit freeze or removal
• Dealing with fraud

3. Credit monitoring service options

Those who have paid for credit monitoring services between September 2016 and September 2017 can opt for a cash payment instead of the free monitoring service.

4. Identity restoration services

Free identity restoration services will be provided until January 2029 for those affected by the data breach. These services include:

• Resolving fraud incidents
• Help with credit repair
• Help with recovering a stolen identity

Equifax Class Action Settlement 2025: Payment date

The final date for Equifax compensation payments has not yet been announced. The verification process is taking time due to the high number of claims.

Also, some payments will be ‘prorated’, meaning the actual amount received will depend on the total number of valid claims. This is done to ensure that all eligible claimants receive their share of the amount correctly.

Process to Receive Compensation

If you have filed a valid claim, follow the following steps to receive compensation:

1. Check Email:
   • Official updates will be sent from distribution@equifaxbreachsettlement.com.
2. Activate Prepaid Card:
   • If you have opted for a prepaid card, activate it by visiting My Prepaid Center.
3. Follow the instructions correctly:
   • Providing incorrect information may delay the payment.
4. Keep an eye on card activity:
   • Prepaid cards do not have an expiry date, but it may become inactive after 6 months. So, use it on time.

Conclusion

The Equifax data breach 2017 was one of the biggest data security incidents in history. The settlement has given an important message to companies to understand the responsibility of data security. If you were affected, make sure you keep checking the status of your compensation claim and follow all the required procedures.

FAQs On Equifax Class Action Settlement 2025