How to Report the Death of a Loved One to Credit Companies

May 10th, 2021 by
report the death of a loved one to credit companies

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The passing of a loved one can be very chaotic and overwhelming.

TransUnion, one of the American consumer credit reporting agencies, has some suggestions on what to do with a loved one’s financial life.

One important detail that cannot be overlooked is to notify the deceased’s creditors, including the three major credit reporting agencies.

It is vital that you do this so that the individual’s credit report can be closed out and thus prevent theft of the late person’s identity.

Related: What Financial Documents to Keep and For How Long

The Social Security Administration sends out notifications to the three reporting agencies (TransUnion, Experian, or Equifax) on those who have passed. However, notifying them on their own without waiting for the Social Security Administration report will be faster and help prevent anyone from applying for credit in your loved one’s name in the interim.

Once you notify one of the big three reporting agencies, the receiving agency will notify the other two.

What is the process to update your loved one’s credit report?                                                                                                                                         

To give you peace of mind, follow the steps below which will quickly and efficiently update your loved one’s credit report:

  1. Be sure to contact and send a copy of your loved one’s death certificate to their creditors asking them to flag their account accordingly.
  2. Go online and find the contact information for your local Social Security Administration. Call them to make sure that their account has been duly noted as well.
  3. Notify one of the three credit reporting agencies and include the following information to the credit reporting agency:
    •    Full legal name
    •   Social Security Number
    •   Date of birth
    •   Date of death
    •   Copy of the death certificate

Related: How to Stay Organized With Your Finances

If you are the spouse of the deceased, include your contact information such as your name, mailing address, and a copy of your identification.

If you are not a spouse, you should include a copy of your identification, along with a copy of the will, executor agreement, or Power of Attorney documentation.

 


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