Get a full credit report on a deceased person to ensure you know all the debts.
When an estate or inheritance advance is needed, Scrivnr, LLC will need to pull credit on the deceased person to determine the creditors of the estate, as that will affect the total assets available to advance.
Additionally, the Personal Representative of an estate can request a credit report to be able to determine any creditors of the estate.
When a credit report is needed on a deceased person only an individual that is "authorized" to request the credit report will be required. To be deemed authorized you must be the Personal Representative of the estate as ordered by the court or the attorney of record of the estate.
An authorized individual can, in limited circumstances, also be the petitioner to be appointed as the personal representative as the court documentation will have the legal standing of the individual in respect to the estate.
When an individual is seeking funding to equalize an estate distribution (buy out heirs) and will be then getting personal financing after the estate is settled to pay back Scrivnr for the equalization advance, a credit report on that individual distributee will be needed as the bases of repayment to Scrivnr will be based on that individuals ability to secure persona credit after the estate is closed.
The credit report will contain data from all three credit bureaus and provide the duly authorized individual with a complete list of creditors as reported by the credit bureaus. This report can serve as evidence of the estate performing its due diligence to discover creditors of the estate.
Scrivnr, LLC does not guarantee that the credit report is a full and complete list of any creditor as some creditors may exist and not be reported by the credit bureaus. Further, it is the responsibility of the Personal Representative of the estate to contact any creditor as prescribed by state law and provide legal notice.
Scrivnr, LLC will require a credit report prior to approving any estate or inheritance advance. The information collected will be used in determining if there is sufficient equity in the estate to qualify for an advance.