Your wallet is a valuable piece of your life, it contains access to who you are as well as well as well as contain a means to do business transactions. If you’ve never lost your wallet or had your wallet stolen, consider yourself very lucky. The two main things you need to remember if you lose your wallet is not to panic, and to act fast. Time is of the essence when it comes to preventing possible identity theft as well as unauthorized withdrawals from and charges to your various financial accounts. Here are six steps to take as soon as possible after losing your wallet or having it stolen.
Contact your bank:
Unfortunately, whoever finds or now has your wallet now may try to use your debit card. Call your bank’s 24-hour customer service number and ask them to put a stop on the card. Unlike a credit card, a debit card can leave you on the hook if you wait too long to report it being lost or stolen. Schedule a time to visit a branch of your bank in person to apply for a new replacement card. Call ahead to see what out of your remaining identification (social security card, birth certificate, university ID) you need to bring with you in order to get a new card. Thankfully, most banks can give you a temporary card right away.
Cancel your credit cards:
Next thing to do, call your credit card companies, as well as any stores where you have a card, and cancel the cards. You can usually find the contact numbers on line. Then apply for a new card on the same account if possible. As a precaution, before you actually lose your wallet and your credit cards, consider making front and back copies of your credit cards and filing those copies away in a secure place. In additionally you can keep a list of your card information in a book in a secure location.
File a police report:
If your wallet is stolen in a robbery, chances are you’ve already dealt with the police who took a report that you can get a copy of later. If you lose your wallet through carelessness, you should still file a police report. In some parts of the country, you can file a report online. But chances are you’ll have to pay a visit in person to your local precinct to file that report. Bring with you as much detail as possible about where and when the wallet was lost or stolen so the process will go as quickly and painlessly as possible. Make sure you get a copy of your report, as it will definitely help you with insurance claims, fraud victim claims, and any liability issues that arise.
Update automated payments:
Sit down and make a list of any bills that are being automatically charged monthly to any of the lost or stolen cards. Ask yourself, do you pay a monthly fee to maintain a website that is also billed to those cards? Do you have a Netflix account? Do you have automated payments set up with any utility companies or your cell phone service provider? Also, take time to list and then contact any websites that may have stored your debit or credit card information, such as amazon.com, and see if you can delete and update the accounts accordingly.
Contact credit reporting agencies:
You should contact the three major credit recording agencies, Equifax, Experian, and Transunion, to report your lost cards and request a 90-day fraud alert on your credit report. Equifax and Experian have forms online that you can download and fill out to put a fraud alert on your credit report.
Apply for new identification:
Finally, you’ll need to schedule a time to apply for a new state ID or driver’s license. Doing so can be relatively easy, or a bit more complicated, involving a personal visit to your nearby DMV. If you need to apply for new identification in person, be sure you bring with you documents and paperwork that not only identifies who you are but confirms your current place of residence, such as a lease and recent utility bills.
- Remember NEVER EVER keep your social security in your wallet.
- Go ahead and order a back up driver’s license, it is help identify you later.
This Renter’s Insurance Article was sent to me for inclusion in my weekly blog.
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