Loan Care has suffered a data breachand if you’re one of the people who received a notification, today is your last day to claim your share of the settlement, and we’re not talking about a small amount of money, your data is worth up to $6,500! This settlement is part of the class action lawsuit that arose after the cyberattack they suffered in 2023, when the attackers accessed confidential information from LoanCare’s customers. Even though the company has not admitted to any wrongdoing (as always happens in these cases), they have agreed to pay $5.9 million to compensate the affected individuals.
If you believe your information was compromised, you’re still in time to submit your claim, but hurry because the deadline is about to end!
LoanCare data breach?
It happened on November 19, 2023, when LoanCare suffered a security breach that allowed unauthorized individuals, hackers, to access personal and financial data of their customers. And of course, there’s nothing more concerning than a data theft involving your name, addresses, Social Security numbers, bank accounts, and more.
Did it have consequences for those affected?
Of course… imagine what someone with bad intentions could do with absolutely all of your personal data, from identity theft to financial fraud… That’s why, even though the company didn’t admit to acting negligently, the settlement seeks to compensate the people whose data was compromised.
What compensation can you receive?
The settlement contemplates several levels of compensation depending on the type of damage you suffered:
- If you didn’t suffer direct losses but your information was exposed, you can receive a direct payment of $100.
- In the case of those who can document ordinary losses, reimbursement goes up to $1,500. (Expenses such as credit monitoring services, bank charges for communications, or error corrections…)
- But if you suffered fraud or identity theft as a result of the breach, you can claim up to $5,000 in reimbursements. In these cases, it’s important to provide evidence of the financial damages you experienced.
What other benefits does the settlement include?
In addition to direct payments or reimbursements, all members of the settlement will receive up to three years of identity monitoring services. This package includes dark web scanning, access to fraud specialists, and up to $1 million in identity theft insurance coverage.
If you already received 24 months of monitoring services due to this breach, the settlement only offers one additional year of coverage.
Submitting claims
If you received the official notice of the breach or believe your information was exposed, you can submit your claim today. You must provide any documentation you have to support your losses, although for the direct payment it’s not necessary to present evidence.
To find out the exact details and ensure you don’t miss the opportunity, you can visit the Top Class Actions website, which explains the whole procedure and offers the direct link to the claim form.
How do data breaches work?
Through a cyberattack, attackers can gain access to very sensitive user information. It can be done through password guessing (trying different combinations until they access documents), phishing (or impersonation), or ransomware (blocking direct access and encrypting files on a computer). As you can see, there’s never an end to malicious intent…
The LoanCare data breach put the financial and personal security of thousands of people at risk. Today is the last chance to claim your share of the compensation. Your information is yours, and whoever puts it at risk has to pay the consequences, don’t let this deadline pass by and claim what’s yours!
