loanDepot Data Breach Payouts Coming – If you were affected by the January 2024 loanDepot data breach, you may be eligible for compensation from a $25 million class action settlement. The company faced a major cybersecurity incident that exposed sensitive personal data, and now, impacted individuals can file claims to recover financial losses and get credit monitoring services.
This article explains who qualifies, what benefits you can claim, how to file, what deadlines apply, and what to expect next. It also offers expert insight into protecting your data in the future.
loanDepot Data Breach Payouts
| Detail | Information |
|---|---|
| Breach Period | January 3–5, 2024 |
| Settlement Amount | $25 million |
| Cash Payment Range | $5.30 – $70.71 (Additional $14.90–$149.04 for CA residents) |
| Out-of-Pocket Refund | Up to $5,000 with documentation |
| Free Credit Monitoring | 2 years, includes $1 million in identity theft insurance |
| Claim Deadline | May 27, 2025 |
| Settlement Website | LoanDepotBreachSettlement.com |
The loanDepot data breach settlement is a vital opportunity for affected individuals to recover part of their losses and protect their identity. With millions of Americans impacted, it’s essential to act before May 27, 2025, to secure your benefits.
The process is free, straightforward, and offers multiple options — whether you prefer direct cash, reimbursement, or identity monitoring. Take action today to make sure you’re not left out.
What Happened in the LoanDepot Data Breach?
In early January 2024, loanDepot, one of the largest non-bank mortgage lenders in the U.S., experienced a cybersecurity breach that compromised the data of over 16.6 million customers. According to the company’s SEC filings and customer reports, hackers gained unauthorized access to:
- Full names
- Social Security numbers
- Dates of birth
- Financial account information
- Mailing addresses
loanDepot immediately notified affected customers and offered complimentary identity protection. But with rising consumer backlash and legal pressure, the company agreed to a class action settlement.
How Did the Lawsuit Start?
Shortly after the breach was made public, multiple class action lawsuits were filed by affected consumers who alleged loanDepot failed to maintain adequate cybersecurity safeguards. Plaintiffs argued that the company:
- Negligently handled personal data
- Took too long to notify customers
- Did not offer sufficient protection post-breach
The lawsuits were consolidated, and the $25 million settlement was reached to resolve all claims without admitting fault.
Who Is Eligible to Claim For loanDepot Data Breach Payouts?
You may qualify for settlement benefits if:
- You received a notice from loanDepot confirming your data was compromised during the January 3–5, 2024 period.
- You lived in California between January 3, 2021 and December 2, 2024 (eligible for added benefits under the California Consumer Privacy Act).
- Even if you did not receive a direct notice, but believe your data was involved, you can still file a claim.
This includes customers of loanDepot mortgage services, personal loan products, or anyone whose private data was stored on their servers during the breach window.
What Benefits Can You Claim?
Cash Payments
Claimants can receive between $5.30 and $70.71, depending on the number of claims approved. California residents may receive additional payments up to $149.04 under state privacy laws.
Reimbursement for Financial Losses
If you spent money dealing with the breach — for instance, hiring identity theft services, replacing a driver’s license, or time spent recovering accounts — you can get reimbursed for up to $5,000, as long as you submit proper documentation.
Free Credit Monitoring & Identity Protection
You may choose two years of free identity theft protection, which includes:
- Daily credit monitoring
- Dark web surveillance
- Real-time alerts for suspicious activity
- $1 million in identity theft insurance
This service is similar to what companies like Experian or LifeLock offer.
How to File a Claim For loanDepot Data Breach Payouts
Option 1: Submit Online
- Visit the official website: LoanDepotBreachSettlement.com
- Click “Submit a Claim”
- Enter your Notice ID and Confirmation Code (from your settlement notice)
- Select your benefit option: cash, reimbursement, or credit monitoring
- Upload supporting documents (if any), then review and submit
Option 2: File by Mail
- Download and print the claim form from the website.
- Fill out the required fields
- Attach supporting documents
- Mail it to: In re loanDepot Data Breach Litigation
c/o Settlement Administrator
1650 Arch Street, Suite 2210
Philadelphia, PA 19103
Note: Even if you didn’t receive a notice, you can file by mail.
Key Legal Dates to Remember
- Deadline to Submit Claim: May 27, 2025
- Last Day to Object or Exclude Yourself: April 27, 2025
- Final Settlement Approval Hearing: August 18, 2025
These dates are critical — missing the May 27 deadline means forfeiting your right to compensation.
What Happens After You File?
Once you’ve filed a claim, it will be reviewed for eligibility. If approved:
- Cash or reimbursement payments will be sent after final court approval.
- Credit monitoring access will be shared with instructions on how to activate the service.
Expect updates by late 2025, once all claims are processed.
Where to Get Help
Have questions about the process? Here’s how to get in touch:
Email: [email protected]
Phone: 1-844-996-4090 (toll-free)
You can also read the full class action documents on the settlement site.
How to Protect Yourself from Future Data Breaches?
Even with a settlement in place, it’s smart to take steps to guard your data:
- Freeze your credit reports with all three bureaus (Experian, Equifax, TransUnion)
- Use two-factor authentication on all financial accounts
- Monitor your accounts with free apps like Credit Karma or bank alerts
- Regularly check your credit reports for new accounts or changes
These measures help reduce the impact of identity theft — even if your data is stolen again.
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FAQs About loanDepot Data Breach Payouts
What if I didn’t get a notice — can I still file?
Yes. If you believe your data was affected during the breach, you can still file by mail without a Notice ID.
Do I have to pay taxes on the settlement money?
Generally, small settlement amounts for inconvenience or out-of-pocket losses are not taxable. However, consult a tax advisor for larger reimbursements.
Can I get both cash and credit monitoring?
No, you must choose one benefit: either cash, reimbursement, or free credit monitoring.
How long will it take to get my money?
Payments will be issued after the final hearing (August 2025), and could take a few weeks to several months.
Is this a scam?
No. This is a legally approved settlement with a court-appointed administrator. All information can be verified at the official site.
