You’re probably not going to get your $125 from the Equifax settlement

You’re probably not going to get your $125 from the Equifax settlement
A monitor displays Equifax Inc. signage on the floor of the New York Stock Exchange (NYSE) in New York on Friday, September 15, 2017.

Enlarge / A monitor displays Equifax Inc. signage on the floor of the New York Stock Exchange (NYSE) in New York on Friday, September 15, 2017. (credit: Michael Nagle/Bloomberg | Getty Images)

If you haven’t already filed a claim for cash compensation in response to the Equifax breach, you might be out of luck. The company is no longer offering payouts in lieu of credit monitoring.

The Federal Trade Commission page devoted to the settlement it announced with Equifax last week was updated July 31 to say that any consumer affected can claim up to 10 years of free credit monitoring. “Previously, a cash payment was identified as an option,” the site now adds, “but there are limited funds available.”

The FTC said in a statement that “public response to the settlement has been overwhelming.” In a separate blog post, the commission said the “unexpected number of claims” would result in claimants not getting the money they thought.

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