Dear Debt Advisor,
So why do the loan bureaus allow it to be so hard to have an executor to report a deceased person or freeze the loan of the dead person? After working considerable time in "voicemail jail" and getting to pretend I had been the dead person, I managed to really make it right through to a person and just then learned what address to transmit documents to. Can there be in whatever way bereaved people can avoid all of this?
Please accept my condolences in your loss. To be sure individuals have lots of things to cope with following the dying of a family member, particularly when they’re executors from the deceased’s will, and making individuals things as easy as possible could be very useful. Here’s what I learned regarding notifying the loan bureaus after someone has died.
A deceased person’s credit history is not deleted from bureau files immediately to protect against id theft in situation the deceased’s identifying details are stolen. When the dying is reported, lenders can stop new credit from being issued which help prevent fraud. The easiest method to inform the three major credit agencies of someone’s dying and ask for that the "deceased — don’t issue credit" flag go around the credit report is by using email, certified having a return receipt requested, to create your request towards the bureaus. Make sure to keep copies of all things you signal, and record the date sent and also the date an answer is received just in situation a follow-up request is required.
You will have to use in the communication:
- Copies of papers showing you’re the executor or spouse.
- An authorized copy from the dying certificate (one having a elevated stamp).
- Complete name from the deceased person.
- Birth date of deceased.
- Ssn of deceased.
- Newest address of deceased.
- Date of deceased’s dying.
- Ask that a "deceased — don’t issue credit" flag go around the credit report because of dying.
If you’re the spouse or executor from the deceased, you are able to request a duplicate from the decedent’s credit history, so you will have a precise picture of their outstanding accounts. You will find a sample of the letter request in the Id Theft Resource Center.
Mail the letter and supporting documentation certified mail, return receipt requested to:
PO Box 740241
Atlanta, GA 30374
PO Box 9701
Allen, Texas 75013
PO Box 2000
Chester, PA 19022
The deceased alert will effectively freeze the loan file, so a burglar freeze shouldn’t be necessary. The Social Security Administration does inform the loan bureaus of persons who’ve died, but it will take several weeks for that information to achieve the bureaus, therefore it is most likely better to go forward making the notification directly.
I’d also suggest that you contact any creditors from the deceased and inform them from the dying and also to close the account(s) when appropriate. Be careful about closing any accounts which may be jointly held and reported. Closing joint accounts will have a negative effect on the survivor’s credit by decreasing the kinds of credit being used by growing your debt-to-credit ratio associated with a accounts which cash is still owed. Before closing accounts, consider which you might want to keep and employ to retain a powerful active credit rating and use of credit. The creditors will report the updated username and passwords towards the credit agencies. Accounts which have been identified having a deceased notation is going to be deleted after 12 months, so eventually all accounts will disappear the report and also the credit report won’t exist.
Once you have mailed the notification letters towards the credit agencies and also have received your certified mail receipt that they are delivered, I’d wait a few days after which obtain copies from the credit history all 3 bureaus. This gives an chance to check on that the freeze is within place also to review for just about any suspicious activity that could be associated with ID thievery.
Best of luck!