This deep into the age of smartphones, I’d bet that a lot of you out there haven’t thought about TracFone in a while. But a good number of folks still get wireless service through it, and they ought to know about the impending settlement payments coming from the company.

TracFone is currently accepting applications for a class action lawsuit settlement after it was accused of failing to prevent a major data breach several years ago. While the total amount the company is set to pay out isn’t known, the potential payout to impacted customers could be huge, depending on the damages they suffered.

Founded nearly 30 years ago, TracFone is a mobile virtual network operator, or MVNO. It’s best known for offering cheaper, prepaid and no-contract mobile phone service — catering to folks who don’t need or want contract service and who prefer to pay as they go. TracFone piggybacks off the network operated by Verizon, TracFone’s parent company since 2021. In addition to services under its own name, you might also be familiar with TracFone’s offerings under a few other popular brand names: Straight Talk Wireless, Total Wireless, Simple Mobile, SafeLink Wireless, Net10 Wireless and Walmart Family Mobile. 

At the time it was acquired by Verizon, the company boasted 21 million users and a presence in 90,000 retail stores, though those numbers have dwindled since then.

For everything you need to know about the TracFone settlement, keep reading. And for more settlement news, here’s everything you need to know about AT&T’s $177 million settlement.

Why was TracFone sued?

This settlement from TracFone came in response to a class action lawsuit filed against the company after a December 2021 data breach exposed the personal data of its customers. The plaintiffs in the case argued that the company failed to provide cybersecurity measures that would’ve prevented the breach 

While TracFone has agreed to pay a settlement, it has not admitted to any wrongdoing in this case.

Who qualifies for the TracFone settlement?

The settlement is open to any customer of TracFone, or one of its above-mentioned brands, who resides in the US and can verify damages suffered as a result of the breach. In order to do that and get paid, you’ll need to provide materials proving the authenticity of your claims, such as receipts, bank statements, invoices, phone bills, credit reports, police reports or identity theft reports.

If you think you’re eligible for the TracFone settlement and can back it up with documentation, you can submit your claim on the official settlement website.

How long do I have to join the TracFone settlement?

Settlement applications are open through Aug. 7, so you have little less than a month to join the settlement.

How much can I get paid from the TracFone settlement?

That’s going to be dependent on the damages you suffered and can verify, but the upper limits are pretty generous.

For simpler out-of-pocket expenses, you can get up $3,250. These include costs like bank fees, mail costs, gasoline purchases, credit reports fees and insurance taken out between Nov. 15, 2021, and Aug. 7, 2025. You can also claim up to 15 hours of lost time due to the fallout of the data breach, at $30 an hour.

For “extraordinary” expenses resulting from the breach, you can claim up to $50,000 in damages. This can include things like verifiable losses caused by identity theft or loss of business opportunities. TracFone will also provide class members with identity theft insurance worth up to $1 million.

When will I get paid from the TracFone settlement?

That’s still up in the air, but you can expect it to be sometime in the fall at the earliest. In order for payments to go out, the final approval hearing, set for Sept. 16, still needs to be held. A clearer picture of the payment schedule should be available by then.

For more settlement news, find out if you’re eligible for GameStop’s Facebook privacy settlement payments.