The credit services provider 700Credit is moving ahead with a $17.5 million class action settlement connected to a significant data breach.
The agreement resolves claims stemming from unauthorized access to 700Credit’s computer systems in October 2025 that impacted 5.8 million people.
The plaintiffs allege that the incident allowed hackers to steal sensitive customer data, which may include names, addresses, dates of birth, Social Security numbers and other identifiers.
“Plaintiffs allege that 700Credit, on or about October 25, 2025, identified that Private Information of Settlement Class members may have been compromised, accessed, and exfiltrated (‘Data Incident’).”
The company supplies credit reports and related tools to auto, RV, powersports and marine dealerships across the country.
US residents who received breach notifications in July 2026 qualify for the class and can pursue up to $2,500 in documented losses or an estimated flat payment near $50. All class members will be given access to two years of complimentary credit monitoring without any filing requirement after the settlement receives final approval.
“Your Cash Payment may be subject to a pro rata (a legal term meaning equal share) increase from the Settlement Fund if the amount of timely and valid Claim Forms does not use the entire Net Settlement Fund. Alternatively, if the amount of timely and valid Claim Forms exceeds the amount of the Net Settlement Fund, your Cash Payment may be subject to a pro rata decrease.”
Claims must be filed by September 22nd, 2026, via online or mail submission, while the opt-out window closes September 8th, 2026.
A final court hearing is scheduled for October 7th, 2026, with distributions expected roughly 75 days after approval.
The firm denies the allegations but accepted the deal to curb additional legal expenses.
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The post Credit Services Firm Agreeing to $17,500,000 Payout in Data Breach Settlement appeared first on The Daily Hodl.
