7. How will the settlement compensate me for identity theft I have already suffered or money I have already paid to protect myself, and my time spent on those things?
Settlement Benefit: Cash Payment for Time Spent: If you spent time (i) dealing with fraud, identity theft, or other alleged misuse of your personal information that is fairly traceable to the Data Breach, or (ii) taking preventative measures (time placing or removing security freezes on your credit report, or purchasing credit monitoring or identity protection) that are fairly traceable to the Data Breach, then you may make a claim for reimbursement for $25 per hour for up to 20 hours.
You may receive reimbursement for up to 10 hours at $25 per hour by providing a description of (i) the actions taken in response to the Data Breach in dealing with misuse of your information or taking preventative measures and (ii) the time associated with those actions. You must certify that the description is truthful. Valid claims for Time Spent will be reimbursed in 15-minute increments, with a minimum reimbursement of 1 hour per claim.
To claim reimbursement of more than 10 hours of Time Spent during the Initial Claims Period, you must also provide reasonable documentation of fraud, identity theft, or other alleged misuse of your personal information fairly traceable to the Data Breach (i.e., letter from IRS or bank or police report).
If there are more than $31 million in claims for Time Spent during the Initial Claims Period (see FAQ 12), all payments for Time Spent will be reduced and distributed on a proportional basis. Certain claims for Time Spent may also be made during the Extended Claims Period, up to a total cap of Time Spent during the Initial and Extended Claims Periods of $38 million in claims.
Based on the number of potentially valid claims that have been submitted to date, payments for Time Spent likely will be substantially lowered. Depending on the number of additional valid claims that are filed, the amount you receive may be a small percentage of your initial claim.
The deadline to file a claim for time you have already spent as a result of the Data Breach is 01/22/2020. The deadline to file eligible claims for time you spend in the future as a result of the Data Breach is 01/22/2024 (see FAQ 12).
Settlement Benefit: Payment for Unreimbursed Out-of-Pocket Losses: If you spent money to deal with fraud or identity theft that was fairly traceable to the Data Breach, or to protect yourself from future harm, then you can submit a claim for reimbursement up to $20,000 (including your claim for Time Spent). Out-of-Pocket Losses that are eligible for reimbursement may include, without limitation, the following:
- Money spent on or after September 7, 2017, associated with placing or removing a security freeze on your credit report with any credit reporting agency;
- Credit monitoring or identity theft protection costs you paid on or after September 7, 2017;
- Unreimbursed costs, expenses, losses or charges you paid on or after May 13, 2017, because of identity theft or identity fraud, falsified tax returns, or other alleged misuse of your personal information;
- Other miscellaneous expenses related to any Out-Of-Pocket Loss such as notary, fax, postage, copying, mileage, and long-distance telephone charges;
- Professional fees incurred in connection with addressing identity theft, fraud, or falsified tax returns; and
- Up to 25% reimbursement of the money you paid for Equifax credit monitoring or identity theft protection subscription products between September 7, 2016 and September 7, 2017.
This list provides examples only, and other losses or costs fairly traceable to the Data Breach may also be eligible for reimbursement. If you have questions, please call the Settlement Administrator at 1-833-759-2982.
The Settlement Administrator will decide if your claim for Out-Of-Pocket Losses is valid. Only valid claims will be paid. The deadline to file a claim for Out-of-Pocket Losses you have already had is 01/22/2020. Certain claims for losses in the future as a result of the Data Breach may be made during the Extended Claims Period (see FAQ 12). The deadline to file those claims is 01/22/2024.