TitleMax Data Breach: What You Need to Know and How to Protect Yourself

data breach concept

Reviewed by U. Seth Ottensoser, Trial Attorney at Morgan & Morgan, on September 19, 2024

 

TitleMax, a well-known title loan company, suffered a significant data breach that compromised the personal and private information of millions of customers, including customers of TitleBucks and InstaLoan. 

While these data breaches are becoming more common, it’s no excuse for companies to neglect to enforce sufficient security members to protect the customers who trust them. If you’re one of the many customers affected, you may be entitled to compensation for your damages. Contact Morgan & Morgan for more information.

 

Qualifying for a Claim

Those eligible for a claim must:

Have received a loan from one or more of the following prior to February 14, 2023:

  • TitleMax
  • TitleBucks
  • InstaLoan

 

What Do I Need to Sign Up?

You will need the following information to complete your claim:

  • Your personal contact information (name, address, email, and phone number)
  • Email associated with your TitleMax, TitleBucks, and/or InstaLoan account
  • The phone number associated with your TitleMax, TitleBucks, and/or InstaLoan account 
  • Your loan number for any loan(s) received from TitleMax, TitleBucks, or InstaLoan

 

What Happened With the TitleMax Data Breach?

TitleMax, TitleBucks, and InstaLoan, all part of the TMX Finance family of brands, revealed that unauthorized individuals gained access to its systems, compromising sensitive customer information. This breach affected a large number of individuals and could include a range of personal data such as:

  • Full Names
  • Social Security Numbers
  • Driver’s License Numbers
  • Financial Information

This kind of information can be extremely valuable to cybercriminals, who can use it for identity theft, financial fraud, and other malicious activities. For customers who rely on TitleMax for quick access to loans, this breach could have serious long-term consequences.

 

Am I Affected by the TitleMax Data Breach?

Data breaches like the ones involving TitleMax, TitleBucks, and InstaLoan can have lasting effects, particularly when sensitive financial information is exposed. Potential risks include:

  • Identity Theft: Cybercriminals can use stolen data to open fraudulent accounts, apply for credit, or take out loans in a victim’s name.
  • Financial Fraud: Stolen financial details can lead to unauthorized transactions and drained bank accounts.
  • Scams and Phishing: Stolen information can be used to craft convincing phishing emails and other scams that trick victims into divulging even more personal information.

For those impacted, the fallout from this breach could result in financial losses, damaged credit scores, and ongoing stress as they attempt to recover their identity and secure their accounts.

Additionally, when a company like TitleMax fails to protect customer data, it may be held legally accountable. If you’ve been affected by the TitleMax data breach, you might be entitled to compensation for any damages you’ve suffered. Victims of data breaches can pursue claims for:

  • Financial Losses: Reimbursement for fraudulent transactions and expenses related to resolving identity theft.
  • Credit Monitoring Costs: The expense of protecting yourself from further breaches, including credit monitoring services and identity theft insurance.
  • Emotional Distress: The anxiety, frustration, and stress caused by dealing with the fallout from a data breach.

In many cases, class action lawsuits are filed against companies that fail to safeguard their customers' information. These legal actions allow affected individuals to join together and increase their chances of obtaining a favorable outcome.

If you believe your information may have been compromised in the TitleMax breach, you should first and foremost check your bank and credit card statements for any unauthorized transactions. If necessary, freeze your credit. Change old passwords, enable two-factor authentication, and keep a close eye on your credit reports.

Next, you should reach out to Morgan & Morgan—America’s largest personal injury law firm. We take data breaches seriously, and we stand by the victims who have been needlessly exposed due to lax cyber security measures. We fight For the People to hold negligent companies accountable and get our clients the compensation they need and deserve to move forward with their lives.

The TitleMax data breach is a stark reminder of how vulnerable personal information can be. If you’ve been impacted, it’s important to take immediate action to protect yourself and explore your legal options. Hiring one of our attorneys is easy, and you can get started in minutes with a free case evaluation.