The Credit Professional Winter 2018 Dec_2018_magazine | Page 16

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permanent change. Follow up
by mail as directed and keep
records of all correspondence.
Your spouse’s past
employers. Your spouse may
be covered by pension plans
through a former employer. It
can be worthwhile to contact
these employers to learn
whether benefits exist and how
to claim them.
The Department of Veterans
Affairs (VA), if applicable. The
VA offers many different types
of benefits for spouses and
dependent children of a
veteran. Contact the VA at:
800-827-1000 for
information about benefits;
877-294 6380 for
information about pension
payments to beneficiaries
In addition, request a copy of
the credit report to be sure you
know about all the accounts
opened in your spouse’s name.
The three major credit reporting
agencies are:
Start by contacting someone at
your credit union and any other
financial institutions that hold
a deposit, investment, or loan
account in your spouse’s name.
You will need to transfer
accounts to your name or
close accounts. Whenever you
close an account, ask the
organization to list it as
“Closed. Account holder
is deceased.”
Equifax, 888-766-0008 to
request a fraud alert;
800-685-1111 for
credit reports.
Experian, 888-397-3742
TransUnion, 800-888-4213
Contact the Department of
Motor Vehicles to cancel your
spouse’s driver’s license or
state identification card and to
transfer vehicle registrations.
Finally, contact any agencies or
organizations that may have a
membership record for your
spouse. Put professional
Or go to the VA web site.
organizations that issue
licenses at the top of your list,
Other products or services
Cut up your spouse’s credit
but also include the library or
that offer death benefits.
cards to ensure they no longer membership programs such as
For example, your credit
can be used. When your spouse the fitness club or YMCA.
union and some credit cards
was the sole holder of an
may offer death benefits.
account, notify the company so Do you need professional
the account is closed. You may financial advisers?
or may not be liable for a debt
Did you protect your
your spouse owed; consult
spouse’s identity
You likely will need access to
your
attorney.
Weigh
how
you
professional advice as you sort
from theft?
want to handle joint credit
through your financial affairs.
card accounts.
Failing to notify financial
If you need advice for handling
institutions and credit agencies
As
soon
as
possible,
contact
daily expenses and budgeting
about your spouse’s death
for the future, you may need to
leaves the door open for identity credit-reporting agencies—in
writing—to notify them of your talk to a financial counselor.
thieves to use your spouse’s
spouse’s death and ask to have Many credit unions offer
vital information to commit
financial counseling or
fraud. This fraud can hurt your a “deceased” alert placed on
your
spouse’s
file.
Begin
by
seminars about issues such
credit rating and might even
contacting the credit reporting as budgeting or building a
expose accounts or other
agencies online or by telephone credit score.
assets to theft unless you
to create a short-term alert and
act promptly.
obtain an address for filing a
800-669-8477 for information
about death benefits;
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The Credit Professional
15
December 2018