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

www.theverge.com/2019/7/26/8932398/equifax-settlement-125-claim-wont-get-money-alternative-reimbursement-compensation?fbclid=IwAR0JVQyDKoP3chKy1ovtgvNTQmjjn3liFWsUnzzhKltLfELznWb0GlgouMI

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.

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.