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Drafting an amendment to a settlement agreement arises when the parties agree to a change in the original settlement agreement. Often, the process starts with additional negotiation, and if the parties reach a new agreement, an amendment is drafted. The new agreement supersedes the original settlement agreement.
The period for filing initial claims in the Equifax data breach settlement ended Jan. Equifax agreed to pay hundreds of millions of dollars to help consumers affected by the breach. According to court documents, more than 15 million claims had been submitted by Dec. 1, with several weeks left to file claims.
In July, credit bureau Equifax agreed to pay nearly $700 million over its massive 2017 data breach. Under the terms of the settlement, affected consumers could potentially get up to $20,000 in reimbursement.
Last week, Equifax agreed to a $575 million up to $700 million settlement over its major 2017 data breach. It entitles affected consumers to free credit-monitoring offerings or an $125 payout, plus the potential for more cash back if you can document losses as a result of the incident.
The next six years would be with Equifax. Victims of the breach who didn't want the credit monitoring could receive a cash payment instead. The settlement offered two choices: Opt for up to 10 years of free credit monitoring or receive a payment instead. That could include the time spent freezing credit reports.
The Equifax settlement was announced July 22 and the official settlement website, www.equifaxbreachsettlement.com, started accepting claims July 25. The deadline to file a claim is Jan. 22, 2020.
You can also check the FTC's Equifax Data Breach Settlement page and the official data breach settlement page for updates. And the FTC has a number you can call -- (833) 759-2982 -- for updates. On the official settlement site, you file a claim online.
Go to the settlement website and click on Find out if your information was impacted to see if you're eligible. Identity restoration services include help dealing with companies, government agencies and credit bureaus. You can use the service even if you never make a claim from this settlement.
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