New York, May 31, 2022 (GLOBE NEWSWIRE) -- Imagine for a moment a common scenario happening all over the United States. You apply for a new mortgage, car loan, or line of credit and have high hopes of receiving the amount you expect. You have been monitoring your credit actively and know you have an excellent score, and are finally ready for this financial commitment.
You gather all of your documents and submit your application, only to learn you do not qualify. So, being the good consumer you are, you run a quick credit check again to see what happened for the denial. Only then do you learn you have been mistakenly reported dead by one or all three of the major credit reporting agencies. Now what?
If your credit reports say you’re deceased, the first thing to do is to call the three major credit reporting agencies: Equifax, Experian, and TransUnion. If they won't fix the problem, then get in touch with them again and insist on a dispute form being sent to you.
Credit reports are used as a resource for lenders when they're deciding whether or not to give out loans or lines of credit. This means that if someone says your name is dead in their system and they cannot verify your identity through another source (like your Social Security number), then they will stop any plans of giving you money by any means necessary until this issue has been resolved.
Why Does My Credit Report Say I’m Deceased?
If your credit report shows that you’re deceased, it might be because one of the three national credit reporting companies had this information reported by one of your current or past accounts.
Credit reporting companies don’t need any official proof of a person's death in order to mark them as deceased on their credit reports. If a business credit card or some other line of credit you had reports you as being deceased, they do not need to produce a death certificate or other documentation from family members before making this change on your account.
That means a small auto loan when you were just out of high school can suddenly have a significant impact on your ability to secure funding in the future. All they have to do is to have accidentally marked your account as reported as deceased. If someone were to commit identity theft in your name and die before being arrested for it, for example, it would be up to this individual's next of kin (assuming there is one) to dispute their fraudulent accounts with the credit bureaus.
Even if you're able to get your credit report marked as “deceased” removed from one agency's files by submitting documentation proving that you're still alive, many lenders won't check all three agencies' records when considering whether or not they should extend financing options such as loans or lines of credit. If TransUnion thinks you're dead but Equifax doesn't agree with its assessment, any potential creditors will likely take more time than usual when evaluating whether they want to approve your application because they'll need more time reviewing all three agencies' reports.
Another cause of this situation is when your spouse or a member of the family with a similar last name that shares an account actually does die. The account could be confused, and you end up mistakenly reported as deceased.
Why You Need to Fix this Error
Credit reports can be a very important tool in determining your ability to get a loan or open a new credit card. If they are not updated properly, you may find yourself unable to obtain the money needed for buying a home or car. In addition, if you're deceased and still listed on these reports, it could cause problems with jobs that require background checks.
A minor error in your report could also have an impact on your credit score. If reporting agencies think you are deceased, it could lower your score and make it difficult for you to get approved for loans or credit cards.
Without fixing this error, you cannot secure:
- Personal loans or lines of credit
- Car loans
- Mortgages for buying a house
- An apartment due to the application credit check
- Certain jobs that conduct background financial checks
- Security deposits on some utilities like internet or mobile phone
The good news is there are ways to prove that you are not dead on your credit report. Before you get started trying to fix this issue, be sure you keep documentation of every correspondence you make with the reporting agencies or the original account that sent Equifax death notifications or any other agency.
What Will It Take to Repair This Mistake?
If you're listed as deceased on a credit report, it can be difficult to get the error corrected. Be prepared because this process can take a while. Even with phone calls and the original account being notified, it could still take time for each credit reporting agency to fix the error. In some cases we have seen, a TransUnion death notification may get resolved, while the other two may take significantly longer.
Each credit bureau is going to want to know who reported you as deceased and why they made that mistake. They will also want proof of life. It may seem odd to prove you are alive, but these are complex agencies that need documentation upon documentation. Usually, a government-issued ID and a current utility bill with your most recent address should suffice.
How to Dispute a Death on Credit Report
If you think your credit report is inaccurate, the first step to fixing it is to dispute the error with each of the three major credit bureaus: Equifax, Experian, and TransUnion. This can be done by phone or through their websites. Each bureau will have a different process for disputing an error on your credit file, so make sure you read over their instructions carefully before beginning.
You also will want to contact the original account that made the Equifax report death error in the first place. You need to alert them to the situation and that you are taking steps to repair what has happened. They need to fix the error on their end by submitting an updated report to the credit reporting agency.
You'll also want to pay close attention when you're disputing an inaccuracy so that you don't miss any important deadlines or requirements. For example, many disputes require proof of identification and proof of relationship between yourself and any companies listed in your report (such as an employer). To make sure everything goes smoothly and without delay or confusion, consult with someone who has experience disputing errors on their own reports before filing anything official with one of these agencies.
That is where we can help. At Consumer Attorneys, we provide a free consultation (call us now 877-615-1725) to starting your journey down the pathway of credit repair, including fixing inaccurate credit bureau reports deceased notifications. Schedule a consultation and reclaim the power of your credit report.
