If you filed a claim in the Equifax settlement, you have until Oct. 15 to complete this next step

If you don't, you'll lose your money
Posted at 1:17 PM, Sep 09, 2019

Those that filed a claim to receive settlement funds from Equifax from its 2017 data breach need to verify their claim further before they receive their money, according to emails sent by the company on Sunday.

In September 2017, the credit bureau announced that hackers had compromised the personal information of more than 145 million Americans. In July, Equifax agreed to pay a $700 million penalty in a settlement with the FTC.

As part of the settlement, agreed to pay up to $20,000 to those affected by the breach. But even those who didn't suffer direct damages from the hack could still claim $125 or free credit monitoring.

But according to CNBC, those who chose a cash payout now need to complete an additional step or risk losing their money.

According to emails sent by Equifax, those seeking a cash payout now need to visit the Equifax settlement website and provide the name of the credit monitoring service they had in place at the time the claim was originally filed. Consumers can also choose to change their claim to a non-cash settlement.

Those who don't visit the Equifax settlement website by Oct. 15 will have their claims canceled.

According to CNBC, the additional verification comes after the FTC announced earlier this year that payouts might be less than $125. The settlement stipulated that Equifax's cash compensation was capped at $31 million, and it's likely that more than 250,000 people elected for a cash settlement — meaning money is running out.

Click here to visit Equifax's website and verify your claim. CNBC also reports that those seeking a cash settlement can also send a letter that includes your full name, claim number and zip code to the following address

In re Equifax Data Breach Settlement
c/o JND Legal Administration
PO Box 91318
Seattle, WA 98111-9418

Alex Hider is a writer for the E.W. Scripps National Desk. Follow him on Twitter @alexhider.