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While it’s not something many people think about until faced with the issue, obtaining a credit report for a deceased person is important. It’s 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 there’s any unresolved debt that you’re not aware of.
It’s not uncommon for criminals to try to take advantage of the fact that someone who has passed isn’t checking their credit, which can increase the chances of identity theft and credit card fraud. That’s why it’s crucial to handle this process as quickly as possible.
In general, only the person who is the subject of the credit report should have access to it. But there are times when you may need to pull someone else’s report, such as the death of a loved one. Other instances may be when you’re checking someone’s credit as part of an application for a job or a rental property or if you’re helping someone work on their credit. Here are some commonly asked questions about obtaining someone else’s report.
One of the most common situations where you will need to obtain someone else’s credit report is if a loved one dies and you are the financial power of attorney and/or executor of the estate. Here are the steps you need to take to obtain your loved one’s credit report after they’ve passed and how to protect their legacy.
It’s a lot easier to begin the process of obtaining a credit report if you already have the paperwork needed. Each of the three different credit bureaus may have different requirements to be able to report someone dead and obtain their report, so you may want to call and find out what documents are required beforehand. The most commonly requested are:
It’s a good idea to get at least one copy of these documents for each of the three bureaus, but you’ll also probably want a copy for yourself and another backup just in case.
Before you can start the process of obtaining the credit report, you’ll need to file the will with the probate court. To do this, you’ll need a certified copy of the death certificate, which can be obtained from your local health department for a small fee. If there is no will or named executor of the estate, you may need to file with the courts to be named as executor.
Once you have all of your documents gathered together, you’re ready to start submitting the paperwork to the credit bureaus. Remember that you’ll need to report the death and ask for the report from all three major bureaus: Experian, TransUnion and Equifax. Along with the death certificate, power of attorney and testamentary letters, you’ll also need to include a cover letter explaining that the person has passed and that you need to obtain the reports to put their affairs in order. Your letter should also include:
You may also need to send along a check or pay via phone or online to obtain the report, depending on the bureau’s policies and how recently the credit report was last obtained.
Go through the credit report thoroughly checking for any inaccuracies—name and address misspellings are common—and make note of any open accounts that need to be paid with the estate or notified of the death. It’s a common misconception that all debts are automatically cleared when a person dies, but this isn’t the case, so it’s important to know what will still need to be taken care of. Make sure to be on the lookout for anything unusual–it could be a sign of suspicious activity.
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 person’s 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 that’s needed to complete this step.
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