Have you ever misplaced your car keys and had to call a locksmith? I did that last week; however, the keys were in my purse at the time. Calling a locksmith was the least of my worries because I carry my entire life in my purse via my wallet. A wave of fear washed over me as I envisioned my identity being stolen and my credit being ruined. Fortunately, I have a detailed checklist to help me remember what to do if my purse or wallet is stolen.
Call your bank
If you carry debit cards, you should notify your bank immediately so they can deactivate the card since it pulls directly from your checking account. If you carry checks in your purse or wallet, you will need to request that the bank close the account and open another one immediately. Shred all remaining checks and deposit slips to prevent accidental use in the future.
Notify credit card companies
Fortunately, I had copies of all the cards in my wallet stored in my computer to make contacting the issuers much easier. I scanned a copy of everything (including my driver’s license, gift cards, debit card and credit cards) and stored the scanned images in my computer. Rather than canceling your accounts, report the cards as stolen or lost and request new cards with new account numbers. Do not forget to make sure that any account points, miles or benefits are transferred from the old account number to your new account number.
Change automatic debits
If you used any of your credit cards, debit cards or checking account for automatic drafts or payments, you must notify those companies as soon as possible. Otherwise, the payments will be declined, which could cause you unnecessary late fees, penalties and increased interest rates.
File a police report
You should file a police report even if you lost your purse or are not sure if it was stolen. I know I lost my purse but I needed the police report as written evidence if someone did steal my identity. Be prepared to provide a detailed description of the purse, the contents and the place you remember having your purse. Keep a copy of the report with your other important documents.
Contact the major credit reporting agencies
Contact all three major credit-reporting agencies, Equifax, Experian and Trans Union, to report the loss or theft and request a fraud alert and credit freeze be placed on your account. This will prevent someone from trying to obtain credit without you being contacted to verify your identity. The telephone numbers and web addresses I used are:
- · Equifax 1-888-766-0008
- · Experian 1-888-397-3742
- · Trans Union 1-800-680-7289
Warning: Read the fine print and understand all of the facts about credit freezes and fraud alerts before placing them on your account.
Change your locks
Unfortunately, my keys were in my purse so I had to change the locks at home. Even though I lost my purse and it was not stolen, anyone finding it would have my home address and a set of keys – – an invitation for a thief. Therefore, my husband made a trip to the home improvement store, purchased new locks and installed them the next day.
Review your credit reports
By law, you are entitled to a free copy of your credit report from each of the three major credit-reporting agencies every 12 months. I ordered my free credit reports at Annual Credit Report and filed them so that I can compare them to updated copies to check for any discrepancies. Continue to monitor your credit reports for any unauthorized credit activity.
It was a slight annoyance to go through the above steps when I lost my purse; however, I would rather be safe than sorry. Thankfully, I never carry my Social Security card so I did not need to worry about that. However, if I had lost my Social Security card, I would have contacted the Social Security Administration for information on how to protect myself.
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