700Credit Agrees to $17.5 Million Settlement After Data Breach

Credit services provider 700Credit is paying $17.5 million to resolve a class action lawsuit following a major security incident. The breach, which took place in October 2025, compromised the sensitive information of approximately 5.8 million people. Stolen data included Social Security numbers, addresses, and full names.

The settlement provides various options for those impacted by the breach. Individuals who received notification in July 2026 can claim up to $2,500 for documented losses or opt for a flat payment of roughly $50. All members of the class will also receive two years of free credit monitoring once the court grants final approval.

While 700Credit continues to deny the allegations, the company agreed to the payout to avoid further legal costs. Affected users have until September 22, 2026, to file their claims. The court has scheduled a final hearing for October 7, 2026, with payouts expected to follow about 75 days after the deal is confirmed.