Typically, you may legally change your name to whatever name you'd like, although state marriage laws may also provide some additional legal guidance. There are some exceptions though. For example, you can't: Change your name to escape debt liability or hide from criminal liability.
Unfortunately for anyone who's hoping for a do-over, changing your name doesn't reset a poor credit score or wipe out your existing credit report to let you start anew. ... Payment history: Making on-time payments accounts for 35% of your FICO® Score☉ , the credit score most commonly used by lenders.
Changing your name does not mean that you can ignore debts taken out in your previous name – they are still “yours” no matter what you call yourself. ... With so much detailed data, it is becoming easier to “find” people, even if they have changed their name.
A name change won't affect your credit history. Don't be concerned; your credit history is tied to your Social Security number, which hasn't changed. In other words, if you have an excellent credit score, changing your name shouldn't affect it unless you've done things like make a late payment.
You probably expect to need to update your Social Security information and your credit cards, but there are plenty of other people who need to know about your new name as well. "A name change can have an impact on your taxes. All the names on your tax return must match Social Security Administration records.
Cons of a Name Change
First and foremost, it isn't free. You will be required to pay for the cost of the petition to change it. In most states, the cost isn't more than a few hundred dollars, but that amount could be prohibitive for some people.
Con: It's not free
It needs to get notarized. If your name change is the result of a divorce or a marriage, you may need additional documentation. It's not prohibitively expensive — court fees may be a few hundred dollars — but it does cost money. This is only something you want to do if you're serious about it.
Update your name with your creditors
Typically, you'll need to fill out some paperwork, provide a photo ID and submit evidence of your legal name change. After a creditor changes your name, it can be updated in your credit reports the next time the company submits your account information to the credit bureaus.
If you legally change your name because of marriage, divorce, court order or any other reason, you must tell Social Security so you can get a corrected card. ... See Defining the legal Name for an SSN. To get a corrected Social Security card, you will need to: Show the required documents.
If you need to correct your name on your credit reports, you must file a dispute with each credit bureau that lists the name incorrectly. The process differs somewhat for each of the national credit bureaus. The Experian Dispute Center webpage explains procedures for submitting disputes online, by phone or by mail.
The easiest way to make debt collectors go away is to just pay off your debt in full, but what if you can't afford it? If you could, you'd have paid off your creditor in the first place. Ignoring the problem won't make it go away, but you don't have to put up with the bullying and intimidation.
Ask for a raise at work or move to a higher-paying job, if you can. Get a side-hustle. Start to sell valuable things, like furniture or expensive jewelry, to cover the outstanding debt. Ask for assistance: Contact your lenders and creditors and ask about lowering your monthly payment, interest rate or both.
In general, if you have formally changed your name -- that is, you have gone through a formal court proceeding to change your name and it has been changed on your birth certificate, passport, and other official documents identifying you -- it would be difficult indeed for someone to find out your former name.
You typically must refinance your loan if you have a change of names on the mortgage. ... The lender will require you to fill out a form removing their name from the mortgage and provide a certified copy of the death certificate.
Each state's name change requirements vary, but most require you to file a formal petition (written request) with the local court. Your request must be complete with your current and proposed new name and include a statement that you're not seeking a name change for any illegal purpose.
If it does not match, ask your employee to provide you with the exact information as it is shown on the employee's Social Security card. If the information matches the employee's card, ask your employee to check with any local Social Security office to resolve the issue.
Log into Credit Karma. On a browser, hover over Profile and Settings. Select personal information from the drop-down menu. Enter or select from the drop-down menu your new information, and click Save.
Incorrect assumptions are the primary reason why the credit bureaus cannot match their personal information. You are not born with a file at the agencies, and data does not magically appear. ... You have to apply for and then open a borrowing account to feed information to the bureaus.
On AnnualCreditReport.com you are entitled to a free annual credit report from each of the three credit reporting agencies. These agencies include Equifax, Experian, and TransUnion. Due to the COVID-19 pandemic, many people are experiencing financial hardships.
There are many benefits to a name change
First of all, it can give you a fresh start. Whether you want to put a difficult past behind you, escape the attentions of a stalker or start fresh during a new phase in your life, a legal name change can be very empowering.
After the Name Change
Once a court has ruled in favor of your name change, there will be a record of the court order approving your name change. ... When you change your name on your social security card, passport, driver's license, and other important places, you'll need this court order.
Most states allow one or both spouses to change their last names without a separate name change petition after getting married. You could choose to take your spouse's last name, hyphenate your last names, or in some states, choose a new last name unrelated to either your name or your spouse's name.