Equifax settlement: don’t count on ever seeing that $125 check


Long story short: only $31m of the $700m settlement is actually going to the whole “$125 check” program. So if just 248,000 people sign up, they’ll get the full amount. If 1,000,000 sign up, they’re getting $31 each. And if everyone who was actually affected signed up – all 147 million of them – it would be 21 cents. And I shouldn’t have to remind you that news of the settlement with headlines that basically say “everyone gets $125 free for visiting this website” were everywhere for several days, so expect millions to file claims.

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This is not to say you shouldn’t sign up. But please be realistic about expectations, and as is always good financial sense, don’t spend the money before you have it.


h/t AlwaysTheNoob