Equifax Data Breach: Here's How You Can Claim $125 in the FTC Settlement

It's been announced that the Equifax Data Breach has resulted in the company being required to issue, and we have the details on how you can claim yours if you are eligible. The breach that took place with the free credit report organization in 2017 is said to affected 147 million people. Last week, the Federal Trade Commission announced that Equifax has agreed to pay at least $575 million — and up to $700 million — as compensation to the victims who had their personal data stolen from Equifax servers by hackers.

Now, Equifax has set up a webpage here where you can check to see if you were affected by the hack. All you have to do is input your last name and the last six digits of your social security number.

If eligible, you could be awarded a $125 compensation. You will also want to have any files, documents, or materials that support the hack caused you financial loss. Lastly, you'll submit your claim to be reviewed.

Equifax is shelling out up to $700M in what will be the largest settlement ever paid for a data breach. Here's how to know if you were affected and how to claim your money. pic.twitter.com/Uzx09r6aUB

— NowThis (@nowthisnews) July 30, 2019

Following the compensation check announcement, many people have been taking to social media to comment on it.

"So in order to get my $125 from the #EquifaxDataBreach lawsuit in which 147 million people had their personal information compromised, Equifax wants me to fill out an online form with all my personal information? Like I'm gonna go out with that guy again," screenwriter Randi Mayem Singer quipped.

Equifax: We’ll give you $125 or free credit monitoring

Everyone: pic.twitter.com/lcErf6v83f

— Snyder (@AndrewSnyder42) July 27, 2019

"Equifax letter says I'm entitled to $125 as my share of the data breach settlement. They just need some additional data from me to process the paperwork," CEO of Ritholtz Wealth Management Joshua Brown tweeted.

"Dear Equifax, Forget the $125 and free monitoring...can you up my credit score by 125 points?" another user jokingly asked.

Okay everyone UPDATE on Equifax: for most people the better deal is 10 years of free credit monitoring.

There’s apparently a run on settlements so there’s anxiety people are going to get 16 cent checks. But if you choose 10 years of credit monitoring, Equifax *must* cover it.

— Alexandria Ocasio-Cortez (@AOC) July 27, 2019

Notably, Equifax advises anyone exploring the possibility of being eligible for the compensation to be cautious about scams and fake websites claiming to be part of the company.