Is the Equifax Free Four-Year Credit Monitoring Offer Genuine?

Before you dismiss that email in your inbox with the subject line "Equifax Breach Settlement (Credit Monitoring Instructions and Activation Code)," it's important to pause and reconsider. This email is not a scam; it's a legitimate offer from Equifax as part of the final settlement for the data breach they experienced in 2017, which affected millions of individuals. In this article, we will explain how eligible claimants can benefit from four years of free credit monitoring from Experian IdentityWorks℠ and provide key information to ensure you don't fall victim to potential scams.

The Settlement Details

Eligible claimants who signed up for free credit monitoring are entitled to receive free membership in Experian IdentityWorks℠ for four years. This membership includes:

1. Credit Monitoring: Access to credit monitoring from all three major credit bureaus.
2. Experian Credit Report: A view of your Experian credit report.
3. Internet Surveillance: Monitoring for online activities related to your identity.
4. Identity Theft Insurance: Up to $1 million in identity theft insurance coverage.
5. Identity Restoration Services: Complimentary assistance in restoring your identity in case of theft.

The recently announced settlement was finalized in January 2022, and eligible claimants should expect to receive an email or letter by February 22, 2022. This communication will contain an activation code, which must be used to sign up for the free four-year Experian IdentityWorks℠ membership by June 27, 2022.

Who Qualifies?

A settlement class member of the Equifax breach is anyone among the 147 million people impacted by the breach, meaning their personal information was stolen. If you are unsure of your status, the settlement administrator has a tool on the Equifax Data Breach Settlement website to check your status as a class member.

It's crucial to distinguish between a settlement class member and an eligible claimant. A settlement class member is someone whose personal information was stolen during the breach, whether or not they filed an initial claim before the January 22, 2020 deadline. An eligible claimant is a class member who did file an initial claim before the January 22 deadline.

How to Sign Up for Free Credit Monitoring

By February 25, 2022, all valid claimants will receive a letter or email from the settlement administrator containing an activation code. To begin your free four-year membership, you must visit the Experian IdentityWorks website and enter your activation code by June 27, 2022.

If you encounter any difficulties finding your activation code or have questions regarding your membership, you can contact the court-appointed administrator at 1-833-759-2982. Remember, for security reasons, address updates must be made in writing, not over the phone.

Beware of Scams

Unfortunately, where there are legitimate offers, there are often scams. To ensure you're dealing with the real Equifax settlement offer:

• Check that the email address is [email protected] before clicking any links.
• Visit the official website, experianidworks.com/equifaxsettlement, or call Experian at 1-877-251-5822 to claim free daily credit monitoring.
• Enter the activation code from the email you receive by no later than June 27, 2022.
• Be wary of any communication asking for money. This is a free service, and there's no need for payment information.
• You won't receive phone calls regarding this settlement. If you need to contact the office of the settlement administrator, call 1-833-759-2982.

Extended Claims Period

While the deadline for initial claims passed on January 22, 2020, class members may submit reimbursement claims for Out of Pocket Expenses and Time Spent during the Extended Claims Period, which spans from January 23, 2020, through January 22, 2024. Potential reimbursements include:

• Time Spent recovering from fraud or identity theft, up to 20 hours at $25 per hour.
• Out-of-Pocket Losses resulting from the data breach, up to $20,000.

To receive reimbursement, you must provide documentation supporting your claim, including costs, professional fees, and other expenses incurred during the Extended Claims Period.

Free Identity Restoration Services

As a settlement class member, you are entitled to at least 7 years of free assisted identity restoration services starting from January 11, 2022, to help you recover from identity theft and fraud. To access this benefit, use the settlement administrator's look-up tool to confirm your status as an affected individual.

Key Deadlines

Here are some essential deadlines related to the Equifax Data Breach settlement:

• June 27, 2022: Deadline to sign up for free credit monitoring with the activation code.
• January 22, 2024: Deadline to seek reimbursement for valid Out-of-Pocket Losses or Time Spent.
• At least 7 years after January 11, 2022: Deadline to access Identity Restoration Services.

In summary, the Equifax Free Four-Year Credit Monitoring offer is indeed legitimate. Eligible claimants should be vigilant in responding to the official communication, follow the instructions carefully, and avoid potential scams. The settlement provides an opportunity for affected individuals to safeguard their financial identities and recover any losses incurred due to the data breach.

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