![]() 15 to either name the credit monitoring service they were using when they filed their claim for the cash, or change their claim to ask for free credit monitoring instead of the $125, according to the email from settlement administrators. Victims of the Equifax breach have until Oct. The survey also found 26% of the participants planned to claim money damages, 16% said they’d go for the free credit monitoring, and 21% said they wouldn’t file a claim. That’s up from 11% right after the breach. In a CompareCards survey pegged to the second anniversary of the Equifax breach, just 14% of 750 polled Americans said they subscribed to credit-monitoring services. Those who must pay for the service can expect to pay from about $19 to more than $30 a month, according to The Balance and NerdWallet. ![]() Many consumers are eligible for free credit monitoring because it’s frequently offered to people who’ve been victims of large data breaches, like the ones suffered by Equifax, Capital One COF, The FTC said people should take the credit monitoring because it’s a better value compared to any money reward. In late July, the Federal Trade Commission said victims of the breach would be better off going for the free credit monitoring instead of the cash because there’s only $31 million earmarked for the $125 individual payments, so individual payouts could end up being a lot smaller than $125. That notice was the latest piece of bad news for people who were hoping to get some cash from the settlement. Over the weekend, people seeking the $125 started receiving emails from settlement administrators saying they must verify they “had some form of credit monitoring or protection in place and will continue to have the credit monitoring in place for a minimum of six months.” ![]() But now applicants are learning they have to show they already have “some form of credit monitoring or protection in place” to stand any chance at any cash offered in the settlement.
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