6 Ways to Protect Yourself from the Equifax Credit Breach


5. What Legal Actions Can You Take?

Right now, while you are angry it’ll help to raise awareness by sending a strongly worded letter to your local elected official. While that won’t get your money back, it’ll get people in powerful positions talking. When it comes to a lawsuit, you have three options: small claims court, personal formal suit, or class action. But don’t take your case to a courthouse without proficient evidence that you are indeed a victim. Consult with a lawyer to make the best decision. Small claims court will allow you to sue up $25,000 in damages, but some courts limit it to $3,500. However, small claims court is attractive because you are likely to get paid, and you might not need to pay for a lawyer. The next choice is a formal lawsuit, and you’re sure to get a big payout if you win, but note that you are going up against a company that is worth $17billion. The last option is class action, which you’ll most likely win but it won’t be a satisfactory amount. Equifax will lose roughly $100million due to class action, but it’s really not much for them. When thinking about your options consult a lawyer to help you pick the best option for your case.

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