Is the Equifax breach settlement real? Confusion as multiple people receive different payments: Here's what we know

You are entitled to be compensated if you’ve ever been robbed of something. Needless to say, it applies to the theft of personal information too.

That’s exactly what happened when a consumer credit bureau, Equifax was held liable for the data breach. Consequently, it impacted the personal information of approximately 147 million people.

It seems that affected consumers are finally getting compensated for the same starting mid-December 2022.

Equifax data breach settlement

Consumers who filed claims in the Equifax Data Breach Settlement and qualified for the same recently began receiving settlement payments (1,2,3,4).

According to reports on Twitter, several people noticed that an amount of $5.21, $22.82, or $17.61 has been credited to their accounts as part of the Equifax breach settlement (1,2,3,4,5,6,7,8).

But the difference in the settlement payments has surely created a lot of confusion among them. The fact that a lot of them received a mere sum of $17.61 or even $40 is also quite absurd.

After waiting for like 3 yrs and re-filing claims for this Equifax breach and I got $5.21. It was supposed to be $125…🤦🏻‍♀️
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My Equifax Breach Settlement check was $17.61! A lot of y’all only got $5.21. Don’t hate the player, hate the game!
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Some also can’t fathom the fact that they just got a nominal amount as part of their settlement. The angst is understandable as it compromised the private and confidential information of numerous consumers.

Owing to this, they feel that it is quite ridiculous for them to receive an almost negligible amount after years of waiting.

On the contrary, there are also some people who are mocking the entire situation by simply laughing it off.

“Equifax Breach Settlement Fund has sent you $5.21 USD.” Finally, I can retire.
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Despite all the criticism and jokes, it is pretty clear that the Equifax breach settlement is indeed real.

Moreover, we witnessed a similar case with the social media platform TikTok a little while ago. Some users even confirmed receiving an amount of $27.84 or $167.04 as part of the TikTok ‘Data Privacy Settlement’.

Although, the initial deadline to file a claim in the Equifax settlement was January 22, 2020. People who are yet to file a claim can still do so on the official site.

Why is there a difference in settlement payments?

When Equifax agreed to settle all claims related to the breach, those eligible were to be reimbursed for the time they spent remedying identity theft or misuse of personal information as a result of the breach.

That said, it’s likely that the payments are based on the amount of time spent documenting individual losses or explaining the impact of the breach. Granted, those receiving more spent more hours. Vice versa is also true.

Apart from that individuals must refrain from sharing any details on other websites claiming to be affiliated with Equifax regarding the settlement.

We’ll keep tabs on the latest developments and update this article when we come across anything noteworthy.

Featured image source: Equifax

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