Sep 18 2008

The Fret of Losing Your Wallet

Over the weekend, my friend had his wallet stolen from a communal locker at work. He was on his way to the mall when he stopped by to pick up his wallet and he calls me in a hurry. He needed the bank phone numbers so that he could cancel all his cards.

It seems like a typical “I lost my wallet” routine but he noted to me that he had a copy of his Social Security card in his wallet along with his driver’s permit.

What a perfect recipe for a financial disaster, right?

When he called to cancel the cards, he also asked if any charges were made. It was a good 12-13 hours since he last saw his wallet. I’d expect there to be some charges but fortunately, there were zero charges.

It is odd that the person did not intend on purchasing items with a stolen credit card, but that person still has the option to entirely take over my friend’s identity.

Bankrate suggests these four steps after losing your wallet:

  1. Cancel lost credit, ATM and debit cards.
  2. Report the theft to credit bureaus.
  3. File a police report.
  4. Provide details to the FTC.

Hopely, someone just found it and put it in the university’s ‘lost and found’.

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