Equifax Class Action Settlement 2025 – Check Eligibility, Amount & Payment Date

Equifax Class Action Settlement 2025 – Equifax, a leading credit reporting company that maintains our financial data, was the victim of a major data breach in 2017. This incident put the personal information of lakhs of people at risk. The vital information of more than 147 million American citizens, such as Social Security numbers, credit card details, bank account information, and other financial data, was leaked. This incident not only became a major crisis for Equifax, but it also became a serious financial challenge for millions of affected individuals. As a result, people initiated multiple legal cases against the company, making it one of the biggest data theft incidents ever.

What happened after the Equifax data breach?

This data breach that happened in 2017 not only caused financial losses but also provided a huge opportunity for criminals to steal the identities of millions of people, open fake bank accounts, and commit various types of fraud. After this, the company faced legal processes for several years. Finally, in 2025, Equifax announced that provide compensation of $425 million (about ₹35 billion) for the affected individuals. This compensation will be given to those whose personal information was leaked in this data breach and who officially complained about it.

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Purpose of Equifax Class Action Settlement 2025

The main purpose of this compensation is to provide financial relief to those who have been affected by this data breach. Many people, whose identities were stolen, fake bank accounts were opened in their name, or they suffered other types of financial losses, will be helped by this settlement.

Under the Equifax Settlement 2025, affected individuals will get the following types of relief:

• ✔ Direct Compensation
  • If your personal or financial data was stolen, you are eligible to receive some amount. This compensation may vary depending on the amount of your loss and the claim amount you make.
• ✔ Identity Theft Protection
  • After the data breach, you will be provided with free credit monitoring services to avoid such incidents in the future. These services will help you avoid any kind of fraud or identity theft.
• ✔ Compensation for Fraud Loss
  • If your identity was stolen and you suffered fraud due to it, you will be compensated for it. The compensation amount will be decided based on the evidence submitted by you.
• ✔ Time Compensation
  • If you wasted time in resolving this issue, such as contacting banks or credit card companies, you will also get compensation for that time. In this category, compensation of up to $25 per hour will be given, and a maximum of 20 hours can be claimed.

Eligibility for the Equifax Settlement 2025 Payment

Not everyone will be entitled to this compensation. There are some conditions for this, which need to be kept in mind.

• You were an Equifax customer in 2017:
  • This means that your credit report was with Equifax. If your credit report was linked to Equifax, then you can be a part of this settlement.
• Your Data Was Stolen:
  • Only those people will get compensation whose personal or financial data was leaked in this data breach. If your data has been leaked, you have the right to claim for it.
• You Filed a Claim on Time:
  • The last date to file a claim was 22 January 2024. If you have not filed your claim by that time, you will not be eligible for compensation.
• You Have Proof of Fraud:
  • If you have suffered any financial loss due to this data breach, you will have to submit documents to prove it.

How to know if your data was leaked?

If you want to know whether your data was leaked or not, you can check it by visiting the official website of Equifax (equifaxbreachsettlement.com). On the website, you have to fill in your name and some other details, and you will know whether your data was leaked or not.

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How much money will you get?

Under Equifax Settlement 2025, each person will receive different amounts depending on the amount they claimed and how big their loss was.

• ➡ $25 per hour (Compensation for Time Spent):
  • If you wasted any time due to this data breach (such as talking to banks or credit card companies), you will get compensation at the rate of $25 per hour. You can claim a maximum of 20 hours.
• ➡ Up to $20,000 Compensation:
  • If you have provided full proof of the loss caused by the fraud, you can get a maximum compensation of up to $20,000 (approximately ₹16 lakh). This compensation will be decided based on the documents and evidence submitted by you.
• ➡ Reimbursement for Credit Monitoring:
  • If you purchased a credit monitoring service to protect your identity, you can get the cost of that service back.
• ➡ Reimbursement for Other Expenses:
  • People who have faced problems like blocking of their bank accounts, getting new documents made or other financial expenses can also get compensation under this settlement.

How will you get an Equifax settlement payment?

Equifax has provided two ways in which people can receive their compensation:

• Direct Deposit:
  If you provided your bank account information, the compensation will be deposited directly into your account.
• Paper Check:
  If you opted for a paper check, the compensation will be sent to your address in the form of a check.

When will you get an Equifax settlement payment?

Those who filed a claim correctly and on time may receive a payment in the first half of 2025. However, some claims may take time to investigate, so some payments may be made as late as 2025. If there is an error in the claim, that process may take longer.

What to do if you haven’t received compensation yet?

If you filed a claim but haven’t received compensation yet, you should take the following steps:

• Go to the official website (equifaxbreachsettlement.com) and check the status of your claim.
• Contact the Settlement Administrator – You will find the contact details on the website.
• Check your bank details and address – If you have provided incorrect information, compensation may be delayed.
• Be patient – ​​Many claims are still under investigation, so the process may take time.

Documents required to make a claim

If you have made or want to make a claim, you will need the following documents:

• Credit Monitoring Receipt – If you purchased a credit monitoring service, its receipt will be required.
• Bank Statements Related to Fraud – If you have suffered financial loss, proof of it will be required.
• Time Records – If you wasted time solving this problem, you will have to keep a record of that time.

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Conclusion

The Equifax Class Action Settlement 2025 is meant to provide relief to millions of Americans whose data was stolen. If you made a claim on time, you may get compensation soon. You can use this compensation for credit monitoring, compensation for fraud losses and other security measures.

If you have not received your compensation yet, there is no need to panic. You can check your claim and take the necessary steps.

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