Was your information compromised in Equifax data breach?

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MGN Online MGN Online

If you're among the 147 million Americans whose credit data was compromised in the 2017 Equifax data breach, read on. You may be eligible for compensation.

The Federal Trade Commission ruled Monday that credit reporting agency Equifax will have to pay up to $700 million in individual compensation and civil penalties because of the hack.

According to the commission's online claims process, those whose personal information was exposed can get free credit monitoring for 10 years: four years via the three major credit bureaus (Equifax, Experian and TransUnion) and six years specifically through Equifax.

    If you already have credit monitoring, you can choose to receive $125.

    For those who had to spend time and money as a result of the breach, Equifax can provide larger sums, up to $20,000.

    According to the FTC, those losses can include unauthorized charges on your accounts, attorney or accountant fees, the cost of freezing or unfreezing your credit report, or the cost of credit monitoring.

    If you can provide documentation about your time spent grappling with the fallout of the data breach, you can get paid $25 per hour for up to 20 hours of personal time spent.

    You can file a claim through Equifax's data breach settlement page. Equifax has a website where you can find out whether your personal information was exposed.

    The deadline to exclude yourself or opt out of the settlement process is November 19, and all claims need to be filed by January 22.