Hiring A Collection Agency Or Credit Reporting Service
Dealing With A Credit Report For The Deceased
While its not something many people think about until faced with the issue, obtaining a credit report for a deceased person is important. Its important to remember that the death of a loved one can impact your finances. You may need to make sure the credit report is accurate and take stock of any creditors you need to notify of the death, or see if theres any unresolved debt that youre not aware of.
Its not uncommon for criminals to try to take advantage of the fact that someone who has passed isnt checking their credit, which can increase the chances of identity theft and credit card fraud. Thats why its crucial to handle this process as quickly as possible.
Report Any Suspected Fraud Found On Their Credit Report
When reading their credit report, in addition to gathering account information, you should also be on the lookout for any activity that seems suspicious. If you suspect theres fraudulent activity on a deceased persons credit report, notify the lenders for the accounts in question. You should also report the fraud to the Federal Trade Commission and get a copy of an Identity Theft Report. Its also a good idea to file a police report documenting the fraud. They may require your Identity Theft Report from the FTC to launch their investigation.
We know theres a lot to manage when a loved one passes away. Taking time to protect their credit and personal information can help save you from the time and stress incurred from identity theft recovery. Were here to help you through every step to keep your loved ones personal information safe.
Disclaimer: The information posted to this blog was accurate at the time it was initially published. We do not guarantee the accuracy or completeness of the information provided. The information contained in the TransUnion blog is provided for educational purposes only and does not constitute legal or financial advice. You should consult your own attorney or financial adviser regarding your particular situation. For complete details of any product mentioned, visit transunion.com. This site is governed by the TransUnion Interactive privacy policy located here.
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Work With A Credit Reporting Lawyer
If you have been mistakenly reported as deceased by a credit bureau, our firm can help. For more than 25 years, the attorneys of Lyngklip & Associates have presented consumers with credit problems like yours and been a resource for Michigan consumers who need help to correct false reports of their death. No matter whether you need a little coaching or would like us to handle the problem entirely, our experienced credit attorneys can help.
To learn more or to schedule a free initial consultation with a lawyer to help with your Michigan credit reporting issue. contact our law firm today or call 208-8864.
What Happens To Your Credit File When You Die
After someone dies, surviving family members may have a lot of decisions to make, and a few questions as well. “What should we do with Mom’s good china?” “Does anyone know where Dad put his will?” One question they may not consider is what happens to their loved one’s credit file. When a person dies, their credit file isn’t closed or deleted right away. Instead, it is flagged to indicate that they are deceased, which helps to prevent identity fraud. Here are some steps family members can take to speed up this process and help protect the credit file from thieves until it is closed for good.
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What Should Your Letter To Report Death Include
When you write a sample letter to report a death to a credit bureau it should include:
- The name of the deceased
- Date of death
- Your name & phone number
- Documents like the death certificate and proof of your relationship w/the deceased
Why is it important to report a death to the credit bureaus? If the deceased is an authorized user or spouse on your credit report, you need to remove them. What can happen if you don’t? It could lead to errors when lenders pull your credit report due to inaccurate information.
What To Do If You Are Mistakenly Reported
I would recognize that this is a legal issue and a credit error. Make sure to notify each credit bureau the right way. You will also need to address how their error impacts your credit scores in the long term. Because of this, I would contact our office to get started. This type of credit error is frustrating and hard to fix. Most people think it’s identity theft, but it’s rarely identity theft.
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How Do I See If I’m Mistakenly Reported As Deceased
The first step is to review each account on your credit report for who is responsible for it. It should say “individual”, “joint”, “undesignated”, or “deceased”. If it is either undesignated or deceased, you’ve been mistakenly reported as dead. You may also see XXX-XX-9999 on your Experian credit report when you are mistakenly listed as dead. If you see this, they violated your rights under the FCRA, a federal law. This law is really only enforced by you, not government agencies .
Write A Notification Of Death
Youll need to send Experian whats known as a notification of death. This is a formal, written request, but it doesnt need to be anything complicated. Heres a sample letter you can use for Experian:
Request for Deceased. Do Not Issue Credit. Notation
Please place a notion for Deceased. Do Not Issue Credit. on the account of:
You can also submit your documents and your notice online securely through their online portal.
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How A Loved Ones Death Could Impact You Financially
The loss of a loved one is a time for mourning, but its also a time for making difficult choices. One of those decisions is how to manage your loved ones financesboth in terms of dealing with creditors and protecting the deceaseds assets from identity thieves.
The loss of a loved one is a time for mourning, but its also a time for making difficult choices. One of those decisions is how to manage your loved ones financesboth in terms of dealing with creditors and protecting the deceaseds assets from identity thieves.
Unfortunately, a persons passing may actually intensify some lenders efforts to collect repayment. On top of that, criminals fraudulently use nearly 2.5 million deceased Americans identities every year to open false accounts , according to ID Analytics. If you should find yourself in the position of dealing with the aftermath of a loved ones death, the following information may help prepare you to avoid some of the potential financial and legal pitfalls.
A Legal Matter
The deceaseds possessions are legally known as their estate, and the person handling those belongings is the administrator. If youre the administratorbecause you applied for it in court, your loved one designated it in a will, or through various other meansyou will need to work within the legal system to handle any financial issues.
Thwarting ID Theft
1. Obtain a death certificate of the deceased.
Obtain The Death Certificate
First, you need to obtain your loved ones death certificate. The bureau requires a death certificate with the death notification to prove your loved one has indeed passed away.
Youll receive the death certificate within a few weeks after the death of your loved one, but you can also secure one from your local courthouse, the town or city clerk where the decedent passed away, or the states vital records department. Its always a good idea to have multiple certified copies of the death certificate.
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Update Any Creditors And The Social Security Administration
The last step is to update the credit bureaus, any outstanding creditors and the Social Security Administration of the death. Until the credit bureaus are notified that a death has occurred, nothing happens to the credit report. Once the proper documentation has been submitted and the request made, the bureaus will mark the account as deceased.
This means that no further credit will be extended in the persons name and no additional accounts can be opened up, which helps protect against identity theft and credit card fraud. The death certificate should be all thats needed to complete this step.
What Are My Rights
Regardless of whether the debt will be repaid out of the estate or your own pocket, individuals have rights in manners of debt collection under the Fair Debt Collection Practices Act . This act limits who debt collectors can contact, what information they share, and how they present that information.
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The FDCPA is outlined here.
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To file a complaint against a debt collector, contact the Consumer Protection Division of the Iowa Attorney Generals Office at and the Federal Trade Commission at .
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Contact The Credit Bureaus
Both Equifax Canada and TransUnion Canada have forms for correcting errors and updating information. Fill out the form to correct errors:
Before the credit bureau can change the information on your credit report, it will need to investigate your claim. It will check your claim with the lender that reported the information.
If the lender agrees there is an error, the credit bureau will update your credit report.
If the lender confirms that the information is correct, the credit bureau will leave your report unchanged.
In some provinces, the credit bureau is required to send a revised copy of your credit report to anyone who recently requested it.
How Do I Request A Credit Report As A Legal Guardian
Legal representatives or court appointed guardians can request a copy of the credit report for their wards by mail.
Send the request along with the following information about the ward:
- Legal name
- A copy of the ward’s birth certificate
- A copy of the ward’s Social Security card
And information about yourself:
- Proof of your legal representation or guardianship
- A copy of your driver’s license or other government-issued identity card with your current address
- A copy of a current utility bill
Make sure the driver’s license and the utility bill have the same address.
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Notifying The Credit Bureaus Of The Passing Of A Loved One Credit Law Center
The passing of a loved one comes with many daunting tasks and an overwhelming amount of emotion. One task you may overlook is reporting their death to the three credit reporting agencies, Equifax, Transunion, and Experian. When a loved one passes, the Social Security Administration will eventually get around to notifying the credit bureaus. However, it could take approximately six months or more.Unfortunately, thieves are no longer just targeting the living. They will file tax returns, obtain credit cards and blatantly steal the deceaseds identity.The good news is there are a few steps that the loved ones can take to help prevent identity theft on their loved one.
How To Report Credit And Become A Data Furnisher
Establish Reporting Agreements
Companies reporting good credit or bad debt to the credit bureaus, must first establish a Data Furnishers or Service Agreement with each credit bureau to which you will be reporting. The Data Furnishers agreement is required whether you are reporting directly to the credit bureaus or through a processor/stacking service such as The Service Bureau. This is a separate agreement from pulling credit reports.
The credit bureau repositories also require a minimum number of active accounts and monthly reporting, even if you are reporting through The Service Bureau or another processor/stacking service –see example. We have provided phone numbers and account minimums for each credit repository for your convenience .
Companies reporting trade lines must use an application which is up-to-date with the Credit Reporting Resource Guide®, meets all credit reporting laws and regulations and is capable of accurately producing the Metro 2®* format layout such as.
Please Note: Consumers reporting personal loans are not eligible to report credit. Our software will upload to all bureaus that accept the Metro 2 format and support SFTP or HTTPS.
Dun & Bradstreet reviews each request individually and determines eligibility base on proprietary requirements. Participants have access to several incentives for contributing their data.
Procedures for reporting your accounts to the Credit Bureaus
Step 4 – Install Credit Manager software on your computer.
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Who Can Report The Death
You need to be close to the deceased to report the death to a credit bureau. You can be a personal representative of the state or a surviving spouse. The next-of-kin is usually entitled to do this, but you can check with an estate attorney if youre unsure.
An estate attorney can also handle this process on your behalf. If youre working with an attorney to secure your loved ones financial affairs, they can guide you through the next steps.
» Planning a funeral?
Why Does My Credit Report Say I’m Deceased
Generally, a credit report says you are deceased in error because a credit bureau, a credit card company, a bank, or the Social Security Administration made a typo or have a computer glitch. The error gets attached to your social security number on your credit report which does damage your credit scores. Some errors such this won’t be fixed with just calls and letters causing more damage to your credit score. Learning the reason they said you are being mistakenly reported as deceased is the key to fixing your credit reporting problem permanently. Otherwise, this error will can come right back on your credit report within a month or so.
Why Do the Credit Bureaus Owe You Compensation?
It says that if the credit agencies put something on your credit report that’s wrong , they owe you compensation, a free lawyer, and have to remove the error from your credit report.
Not only do you not have to pay us, we actually focus on having you paid.
Should You Try to Fix Being Reported as Deceased Yourself?
No. Here’s why: when a credit bureau says you’re dead, you are denied credit, accounts close, your credit scores go to zero.
Even if you get them to turn your reports back on, your credit score may never recover. You may be denied for the same loan twice.
We can do it all for you, then get you compensated for what Equifax, TransUnion, and Experian did.
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Help Other Entrepreneurs Avoid Deadbeats
The more data credit reporting agencies collect, the better they can help other businesses manage and predict risk. More data = better decisions. Other business owners can check business credit and offer credit to businesses with a track record of paying on time, as well as avoid doing business with companies that are overextended or falling behind on their bills. Found out how to open a business credit file here.
Its worth noting that commercial credit reports dont include information about the names of creditors that share information. Instead, it is categorized by the type of lender or vendor.
Intrigued? Here are two ways to get started reporting your business partners account histories to business credit reporting agencies.
Reporting A Death Of A Loved One To Transunion
There can be a lot to take care of when a loved one passes away, but its important to take the time to notify credit reporting agencies so the individuals credit report can be marked as deceased. We will periodically receive notification from the Social Security Administration about those who have passed away. However, notifying us on your own can be faster and is an important step in the care of your loved one to help protect their credit report from fraud.
Commonly referred to as ghosting, fraudsters sometimes use the personal information of someone who has passed away and use it to open up new credit accounts or file faulty tax returns. Follow the steps below to update your loved ones credit report and give yourself peace of mind:
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