What To Do If You Lose Your Wallet

Losing your wallet is a terrible experience and it can lead to identity theft and other terrible things. Someone is likely to steal any cash you have in your wallet and use your credit cards and run them up the max. You are also at risk for identity theft since your drivers’ license is probably in your wallet. What’s worse is that your home address is on your license and you could be at risk of being robbed.

Things You Should Do Immediately After Losing Your Wallet

If you lose your wallet you have to act fast. Thieves know this and they are going to get to work running up your credit card right away. You need to immediately call your bank and have them put a hold on your account. Do this for your credit cards as well. Your credit cards will have a fraud department and you can contact this department and have your cards frozen and cancelled. They will be replaced with new ones. It will be a temporary hassle since you can’t use your cards, but it is better than having every card run up to the limit.

You will also need to put a freeze on your credit reports. Contact each credit reporting agency to do this. The freeze will prevent any new accounts from being opened in your name which will stop the thieves from trying to open new cards. This step is very important because if they can’t use your credit cards, they still have your license and can use it to open up new cards.

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Contact Local Police Station

Going through identity theft is hard and it can take a long time to get your finances straightened out if you are a victim. Acting fast is your only option because the people who took your wallet are going to act quickly to get the most money they can. You should also contact the police and get a police report. While the police won’t find your wallet, you will have an official document that shows your wallet and all your credit and bank cards  stolen and you can use this to prove your wallet was stolen in case the credit card companies try to stick you for the bill for all the items that the thieves charged. A police report will protect you and stop the situation from becoming even worse. Filing a police report is an important step. To get more tips or information visit https://lostsscard.com/