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Equifax Victims Are Entitled To A Cash Settlement, Here's How To Get It

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Mike Stewart / AP

News is still breaking about the Equifax website hack, one of the biggest information breaches in American history, and you might be entitled to a cash settlement if your privacy was breached.

What was the Equifax breach?

Equifax is a credit monitoring company. When you take a loan from a bank or a mortgage provider, they check your credit score. That means they have access to a wide variety of personal details, including birth dates, addresses, credit card numbers and even Social Security numbers.

Since Equifax is one of America's largest credit monitors, they also have huge databases of this information. The company says that 143 million people's private details were accessed by criminals who hacked Equifax's website earlier this month - investigators are still trying to identify who's responsible.

Equifax's website.Live Mint

If your private information was accessed during the breach, you may be entitled to sue Equifax, or join a class action lawsuit against the company.

How can I check if I qualify for compensation?

Do not use Equifax's free website to check if your details were accessed during the breach. Using the website automatically waives your right to sue Equifax for damages, unless you opt out of the agreement by mail. Instead, call Equifax at 866-447-7559 and ask if you were affected by the hack.

If your details have been accessed by criminals, it's not a bad idea to sign up for some kind of identify theft protection with your bank, or another credit bureau. Experian, another credit monitor like Equifax, is offering free credit monitoring to U.S. customers for the next year.

But more importantly, he's how you can sign up to receive compensation from Equifax...

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