Warnings are being issued to millions of consumers who may not receive their data breach settlement money because too many people are filing multiple claims.
A federal judge signed off on a record $700 million settlement related to the 2017 Equifax data breach that affected the credit data of 147 million Americans.
Equifax set up a website to make it easier for victims to claim their part of the settlement.
Victims can claim reimbursement of the data breach affected their credit rating or identity theft occurred. Victims can claim up to $20,000.
A spokesman for the New York attorney general’s office said victims don't have to prove an incident of identity theft was tied to the Equifax data breach. They only have to prove an incident occurred.
Those who are eligible can get up to $500 as reimbursement for the time spent "taking preventative measures or dealing with identity theft," such as purchasing credit protection, according to court papers obtained by MarketWatch.com.
The problem is Equifax has received an overwhelming number of claims - far more claims than actual victims.
As a result of the excessive claims, true victims might not receive all of the compensation they are owed.
Claim your settlement money at www.equifaxbreachsettlement.com/.
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