After the death of your spouse, you have slowly begun to consider what needs to be done to consolidate his or her belongings and assets to provide closure and peace of mind. One of the many things you may find yourself needing to address is any remaining debt your spouse had incurred. At Flynn, Py & Kruse, we understand the risks that a surviving spouse may encounter in Ohio when they begin the process of dealing with their loved one's death.
According to credit.com, one of the first and most important things you should do is to take action in making sure your loved one's credit is not taken advantage of. The most efficient way to go about this is to contact one of the major credit reporting bureaus and request a notification be added that simply discloses that your spouse has died and to not issue credit. This rather simple action can guarantee that you do not end up with damaging consequences if your spouse's credit is stolen after he or she passes away. Other things you may consider doing include the following:
- Request to be the authorized user on the deceased's credit cards so you can continue to pay them down.
- Cancel credit accounts that have been paid off and gather all bills that still need to be paid.
- If you have a joint account with a line of credit, be aware that you will be assuming all responsibility of making the designated payments.
By remembering these suggestions, you can effectively and efficiently pay down your spouse's debt without compromising his or her credit security following death. For more information about planning an estate, visit our web page.