LOST YOUR WALLET-DON’T WORRY!
· Having your wallet get lost or stolen is certainly a distressing event, but you should also take quick action so that you'll suffer fewer repercussions.
1. Cancel your credit and debit cards
· To minimize thieves' opportunities of misuse, be proactive in cancelling your credit cards.
· You also have a responsibility to report the cards missing or stolen as soon as you realize that they're gone.
· Call the phone numbers for all of your credit card providers and report it to them.
2. Report to the police
· If you do find that fraudulent charges have been made on your card, call the police immediately.
· Fraud is a criminal offense, and the police can take steps to intervene if someone is currently attempting to commit fraud with the use of your credit cards and personal information.
· Be sure to get a copy of the police report, for reporting the incident to other agencies.
3. Contact your banks
· Inform all financial institutions and insurance companies you deal with to know that your wallet's been stolen and that your personal information has been compromised.
· Your bank can note the incident on your account and help you to close any accounts that have been affected or likely to be used without your knowledge.
· Also, you will need to change your PIN as soon as possible if the thief has somehow obtained it.
4. Contact the credit bureaus
· It is especially important to contact the credit bureaus if your credit information was in your wallet, to avoid becoming the victim of identity theft.
· Thieves can use this information to obtain new credit cards in your name, thus damaging your credit rating in the process.
· The primary credit reporting agencies can place restrictions on your credit record so that if anyone attempts to apply for credit using your information, the creditor will have to contact you first to verify that it is you who is making the application.
5. Replace your identification documents
· If you had kept your driver's license, health insurance information and other forms of identification in the wallet, obtain new copies of all these documents.
· Report the loss of your driver's license to the Road Transport Department and obtain a new card.
· Government documents typically require you to go through a formal application process where you will have to provide proof of identity, as per your state's guidelines.
6. Take stock of the wallet's contents
· Write a list of everything that was in your wallet.
· Contact the card providers of your store loyalty cards, membership cards and rewards cards and ask them to issue new cards or membership numbers so that whoever has your wallet can't use them, as some cards may operate similarly to a credit card - such as a library card.
7. Before you ever leave home
· First and foremost, remove all unnecessary identification from your wallet.
· Don't carry your Social Security card with you, as dishonest people can take advantage of you.
· Also, remove any store credit cards that you rarely use, to reduce your job of reporting them.
· Retaining photocopies of cards and identification at home can make renewals easier.
8. The Bottom Line
· Be smart about what you carry around in your wallet to avoid unnecessary stresses.
· Keep your records at home, complete and up-to-date, for faster access when needed.
· Carry your wallet in a safe place - a pocket or inside a purse that's not easily reached into.
· Close any zippers and buttons to ensure that your belongings are well concealed.
· It only takes a few extra moments to put things away carefully.