In 2017, a major US credit reporting agency, Equifax, was cyberattacked. In this attack, personal and sensitive information of about 147 million (14.7 crore) Americans was leaked. This included people’s social security numbers, date of birth, home address, driving license, and credit card information.
Now, in 2025, this matter has reached its final stage. Although the deadline for claiming is over, identity restoration services are still available till January 2029.
What is the full story of the settlement?
The Equifax Settlement is considered one of the biggest data theft cases in US history. Under this, a large compensation fund was created so that the victims could be compensated and protected from future fraud.
| Topic | Details |
|---|---|
| Year of Data Breach | 2017 |
| Settlement Fund | $425 million |
| Affected Individuals | Around 147 million U.S. citizens |
| Claim Deadlines | Jan 22, 2020 (initial), Jan 22, 2024 (extended) |
| Compensation | Up to $20,000 (for documented losses), $25/hour (for time spent) |
| Final Payout Dates | Nov 7 to Dec 20, 2024 |
| Identity Restoration Services | Available until Jan 2029 |
| Official Website | equifaxbreachsettlement.com |
How did the data breach happen?
In 2017, hackers exploited a technical vulnerability in Equifax’s website and stole personal information of millions of people. This data included:
- Social Security number
- Date of birth
- Address
- Driver’s license number
- Credit card information in some cases
After this big data breach, people sued, and as a result, a settlement fund of $425 million was created.
Who was eligible?
If your information was leaked in the 2017 breach and you submitted a claim by January 22, 2024, then you were entitled to compensation.
Even if you did not make a claim, there is no need to panic — you can get identity protection services for free until January 2029.
What did you get in compensation?
Those who filed claims could receive the following benefits:
Up to $20,000 in compensation for:
- Legal or notary fees related to fraud
- Bank charges
- Costs to freeze/unfreeze credit reports
- Identity protection costs
Up to $25/hour compensation:
Up to $25/hour for up to 20 hours of your time spent on solving fraud problems, such as:
- Talking to banks or credit bureaus
- Setting up fraud alerts
- Filling out reports and paperwork
When did you get paid?
People whose claims were found to be valid were paid between November 7 and December 20, 2024.
If you filed a claim and haven’t received any money yet, you can check your status by:
- Visit equifaxbreachsettlement.com
- Use the Claim Lookup Tool
- Call the helpline and provide your reference number
Identity protection is still available!
If you didn’t file a claim, you can still take advantage of free Identity Restoration services. These include:
- Correction of credit report errors
- Help contact companies to close fraudulent accounts
- Resolving identity issues with expert assistance
A true story: Julia’s inspiration
Julia is a freelance designer from Ohio. When she received a notice from Equifax that her data had been breached, she filed a claim immediately. She submitted receipts and time logs for her expenses.
The result? She was reimbursed for her expenses and compensated for her time. She’s still using the free credit monitoring service offered by the settlement.
Her advice?
“Even if you’re in doubt, take action. I got help without any hassle.”
5 essential tips to protect your identity
Whether you were affected by the Equifax breach or not, protecting your identity is always important:
- Have a strong password for every account.
- Turn on two-factor authentication where possible.
- Check your credit report regularly.
- If you’re not taking out a loan or card, freeze your credit.
- Put a fraud alert on your bank/credit card.
The impact of this case on the industry
The Equifax breach shook the entire industry. Aftermath:
- Equifax spent more than $1 billion to strengthen cybersecurity.
- New security policies came in.
- The government started strictly enforcing data protection laws on companies.
This case teaches professionals:
- How important risk management is in data security.
- Transparent communication with customers is a must.
- Legal and cybersecurity preparations should be done in advance.
Conclusion
The Equifax Settlement isn’t just a case — it’s a warning and a lesson. It shows that if companies don’t protect your information, you can pursue legal justice.
It’s also clear that:
- Cybersecurity negligence can be costly.
- Customer safety is paramount.
- Governments and the law are more vigilant than ever.
The case is set to expire in 2025, but its impact will continue to shape the world of data security for years to come.
FAQs
Q1. Who was eligible for the Equifax Settlement?
A1. People whose information was leaked in the 2017 breach and who made a claim until January 22, 2024.
Q2. What amount could have been received?
A2. Reimbursement of losses up to $20,000 and time compensation up to $25/hour.
Q3. Are identity protection services still available?
A3. Yes, free services are available until January 2029.
Q4. When were the last payments made?
A4. Between November 7 and December 20, 2024.
Q5. How do I check my claim status?
A5. Visit equifaxbreachsettlement.com and use the Claim Lookup Tool.