Settlements are final, binding contracts and are not subject to appeal. They serve as compensation for personal injury victims, and the amount agreed upon tends to bring big smiles to the victorious parties. A recent data breach settlement ought to result in a few big grins as well, as recipients may be eligible to claim up to $1,500 for ordinary losses or up to $5,000 for extraordinary losses. There is one catch, though: the deadline to claim this money is in less than a month, so you’d better hurry!
This data breach settlement could earn you some extra money
In 2023, a national sub-servicer of mortgage loans called LoanCare failed to halt a data breach that compromised sensitive user information. LoanCare reached an agreement to pay $5.9 million as part of a class action lawsuit settlement to resolve the claims. The class action lawsuit’s plaintiffs claim that LoanCare could have intercepted the 2023 data breach if it had the proper cybersecurity measures in place.
The alleged negligence resulted in compromised sensitive information, including names, addresses, Social Security numbers, and loan numbers. The company did not admit any wrongdoing but agreed to the $5.9 million class action settlement to settle these claims. According to the terms of the LoanCare settlement, class members can either claim reimbursement for documented expenses or losses or they can claim a flat-rate payment.
This is how much you can claim from this data breach settlement
You might be wondering how much is at stake. Well, class members will be able to claim the following:
- Up to $1,500 for ordinary losses
- These include credit monitoring costs, late fees, overdraft fees, unauthorized charges, and other costs directly related to the data breach
- Up to $5,000 for extraordinary losses
- These include documented monetary loss due to fraud or identity theft traceable to the data breach
If you are a class member but did not experience any losses resulting from the data breach, or you do not want to claim reimbursable losses, you have the option to file a claim for a flat-rate payment of $100. Note that the flat-rate payments may increase or decrease on a pro rata basis.
But wait, there’s more! Class members also qualify for three years of identity monitoring services, which include:
- Real-time credit monitoring
- Dark web scanning
- Up to $1 million in identity theft insurance
- Access to fraud specialists
- Identity theft restoration services
Note that class members who previously chose to receive 24 months of identity monitoring services offered by LoanCare will only receive one year of identity monitoring under this settlement.
The deadline to claim is in less than a month
You are a class member if you received a notice letter from LoanCare, LLC or Fidelity National Financial, Inc. that states that your personal information may have been compromised due to a data breach in November 2023. When filing your claim, ensure that you include documentation of any data breach-related losses, such as bank statements, credit reports, invoices, bills, receipts, etc.
Class members are advised to take note of the following dates for the data breach settlement:
- July 7, 2025 – Deadline for exclusion
- August 5, 2025 – Deadline for objections
- September 4, 2025 – Final hearing for the LoanCare data breach settlement
According to the $5.9M LoanCare data breach class action settlement, you must submit a claim form before or on the deadline of June 4, 2025. The deadline is in less than a month, so class members are advised to hurry! Claims can be filed online, or the PDF claim form must be printed and mailed. One thing is certain: affected class members will all soon be laughing all the way to the bank thanks to this class action lawsuit.
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