Best Collateral Data Breach Class Action Investigation

At Console & Associates, our data breach lawyers are closely examining the recent Best Collateral data breach. This data breach was disclosed following a cyber security incident at Best Collateral, which may have affected numerous individuals, potentially exposing sensitive personal identifiable information.

What Happened?

A recent report from the California Attorney General's website states that the Best Collateral data breach occurred due to a cyber security incident. According to the filing, Best Collateral detected suspicious activity within their IT network on January 17, 2025, which prompted an investigation with assistance from third-party cybersecurity experts.

The investigation concluded on February 10, 2025, confirming unauthorized access to the company's computer network. The security breach allowed malicious actors to access files containing confidential information belonging to both employees and customers of the pawn shop chain.

The compromised data includes sensitive personal information such as:

• names,
• Social Security numbers,
• driver's license numbers,
• biometric information,
• military identification numbers,
• and health insurance policy information.

The specific combination of data elements exposed varies by individual, with some people having multiple categories of sensitive information compromised. Data breach letters were sent out by Best Collateral on March 6, 2025, informing affected individuals about the nature of the incident and the specific types of personal information that may have been exposed during the breach.

Steps To Take If You Were Affected By A Data Breach

1. Monitor all accounts and credit reports closely
   1. Set up alerts for suspicious activity
   2. Review all financial statements thoroughly
   3. Request free credit reports and examine them for unauthorized entries
      
      
2. Consider freezing your credit
   1. Contact all three major credit bureaus to place a freeze
   2. Understand this prevents new accounts from being opened in your name
   3. Remember to temporarily lift the freeze when applying for legitimate credit
      
      
3. Look out for phishing attempts using information from the Best Collateral data breach
   1. Be wary of unexpected emails or messages claiming to be from Best Collateral
   2. Don't click on suspicious links or download unexpected attachments
   3. Verify all communications through official channels
      
      
4. Change passwords for affected accounts
   1. Create strong, unique passwords for each account
   2. Use a combination of letters, numbers, and special characters
   3. Consider using a password manager for better security
      
      
5. Enable two-factor authentication where possible
   1. Add this extra layer of security to all important accounts
   2. Use authenticator apps rather than SMS when available
   3. Keep backup codes in a secure location

For more detailed guidance, explore our “Guide for Victims of a Data Breach” to better understand measures you can take to protect yourself after a data breach.

Best Collateral Overview

Best Collateral, Inc. operates as a specialty financial services company based in Northern California. The company functions primarily as a network of pawn shops providing two main services: short-term collateral-based loans and retail sales of pre-owned merchandise.

The organization's lending model allows individuals to obtain immediate funds by using personal valuables as security. Customers temporarily surrender possession of items such as jewelry, electronics, musical instruments, tools, and other high-value possessions in exchange for short-term loans. These items serve as collateral, which customers can reclaim upon repaying the loan with applicable fees within the specified timeframe.

Best Collateral's retail operations focus on selling merchandise that originated as unredeemed collateral from their lending business. Their inventory consists of various pre-owned items including jewelry, electronics, tools, and other valuable merchandise, which they sell at discounted prices compared to original retail values.

The company maintains multiple locations throughout Northern California, providing both lending and retail services to local communities. With approximately 123 employees and generating an estimated annual revenue of $27 million, Best Collateral represents a moderate-sized enterprise within the specialty finance sector.

Best Collateral Data Breach Victims Have Rights - Don’t Wait to Act

How do you know that you were affected by the Best Collateral data breach? Usually victims receive a NOTICE OF DATA BREACH in the mail, but the impact of a breach can be felt long before notices are sent to those affected. This can be in the form of fraudulent financial activity and other forms of identity theft.

If you believe you were affected, we encourage you to reach out to our data breach law firm for legal assistance through a no-cost consultation about your situation. We will review your eligibility to file a data breach class action lawsuit and discuss your legal rights and any compensation that may be available to you.

Complete our confidential contact form below and a member of our legal team will be in touch.