How to Freeze a Credit Report After Someone Dies
Dealing with the death of a loved one is never easy. While loss is a natural part of life and we may expect it, death often overwhelms us with shock, depression and confusion. Sadly, when you’re in this vulnerable state, there are identity thieves looking to prey on your dulled awareness. They do so by … Continue reading How to Freeze a Credit Report After Someone Dies The post How to Freeze a Credit Report After Someone Dies appeared first on MagnifyMoney.
Posted — UpdatedHere’s what you need to know:
Why it’s important to freeze someone’s credit after they die
How to report a death to the credit bureaus
What’s the fastest option?
Other things to do besides reporting the death
How to resolve identity theft of a deceased person
Why it’s important to freeze someone’s credit after they die
Many identity thieves are practiced in using the dead’s information for their own financial gain. Coping with the loss of a family member is difficult, but it can be exacerbated by dealing with the fallout of identity fraud.
Criminals who deliberately target the departed know that it takes time for financial organizations and credit reporting agencies to process death notices and update their records, leaving open a window of opportunity for fraud.
Luckily, the steps to take to protect your loved one’s identity are clear and relatively simple to follow.
How to report a death to the credit bureaus
The Social Security Administration (SSA) states that, in most cases, the funeral director will notify the administration of a person’s death. To ensure this, you must give the deceased’s Social Security number to the funeral director. From there, credit reporting agencies and lenders will be informed of the person’s passing, and they’ll automatically put a death notice or alert on their credit.
To expedite the process, it is suggested that loved ones who are close to the deceased (typically a spouse or child) take matters into their own hands to get a death notice placed on their departed family member’s credit reports at the three major credit bureaus — Equifax, Experian and TransUnion. This will involve submitting a death certificate, and the Identity Theft Resource center recommends requesting 12 copies of the certificate for such purposes (some institutions may require an original, rather than a photocopy).
The easiest way to update that person’s credit account is to have a relative or executor send letters to each of the three credit national reporting agencies, according to Equifax.
The writer should include the following information about the deceased in their letter:
- Legal name
- Social Security number
- Date of birth
- Date of death
- Copy of death certificate or letters testamentary
They’ll also want to include:
- The letter-writer or executor’s full name
- Their address for sending final confirmation
- Proof you’re the executor, if applicable
David Blumberg, director of public relations for TransUnion, added, “Our industry policy is that the receiving credit reporting company will notify the other two so they can update their records as well.”
Still, to be safe, mail this information to each of the three credit reporting agencies. Their mailing addresses are:
TransUnionP.O. Box 2000Chester, PA 19016
ExperianP.O. Box 2002Allen, TX 75013
EquifaxP.O. Box 105139Atlanta, GA 30348-5139
Kerskie advises that people going through this process prepare to provide proof of relationship along with the death certificate they’re submitting. “This could be a marriage license or court papers,” she said.
What’s the fastest option?
While TransUnion doesn’t have a streamlined online tool or fax offering, they do advise family members or executors to call (800) 680-7289 for more assistance. If you need any help requesting that a death alert be placed on a deceased’s account, your first action should be to contact the bureaus directly.
Other things to do besides reporting the death
Other items for your list:
- Be proactive and let the deceased’s various financial institutions and account holders know about their death. Reach out to banks, insurers, brokerages, lenders, mortgage companies and credit card companies by mailing them copies of the death certificate. Kerskie recommends sending these things by certified mail and request a return receipt to ensure the safety of the personal information you’re sending.
- Limit the amount of personal information that’s released to the public. Identity thieves often gain access through obituaries that list dates of birth, death, full legal names and addresses.
- Consider changing the deceased’s address to forward to a loved one’s home or an executor’s place of business. Identity thieves sometimes steal personal information out of a deceased person’s mail box.
- Don’t forget to file the deceased’s final tax return.
How to resolve identity theft of a deceased person
Resolving identity theft of a deceased person follows many of the same steps you would proactively take to prevent it: Request a copy of the credit reports from the three major credit bureaus, request a death notice on that person’s credit and notify creditors of the person’s death. If fraud has occurred, there’s an extra step: The Identity Theft Resource Center advises you to contact the police in the jurisdiction of the deceased with evidence of fraud. This might be a collection notice you’ve received on the deceased’s behalf, or a credit report showing fraudulent activity.
It’s important to remember that you should not be held accountable for fraudulent debt that’s racked up in the name of your deceased relative. While this may not provide any emotional consolation as you’re going through this process, it should help to relieve some of the money-related stress you’re experiencing.
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