5 Things to do after loosing your wallet

Few think about what happens when a wallet is lost, stolen or otherwise misplaced. However, wallets can fall out of a pocket, be forgotten on a counter or the wallet might be taken by someone with larceny in mind. It can be moments or hours before you realize that valuable possession is missing, usually when you reach for that wallet to pay a bill or to buy gas to get home. The first response is a sick feeling in the stomach and panic.

Stop and Think

The most important thing to do immediately after losing your wallet is to stop. Frantic action does little good and can lead to bad judgement. Allowing panic to take hold only worsens the situation, because panic tends to freeze the brain and stop rational thought. Force yourself to stay calm. You want to be able to think about where you have been and the possible locations of the missing wallet if it has not been stolen. List all the places you have been since the last time you saw your wallet. Don’t forget about cars and parking lots. Consider the most likely place the wallet might have been left, lost or stolen.

Make a Thorough Search

Start your search with your purse and person. Sometimes in an absent moment, a person might tuck the wallet into a different pocket or into a coat pocket instead of a back pocket. Those who carry purses need to completely check out their purses. Those large purses offer lots of places to hide a wallet. Call or revisit places you have been since you last saw your wallet. Check out chairs, aisles, counters. Check out your car and all around your car. Give out your cell phone number when you call. That way, if someone in those businesses discovers the wallet, you will get a call. Consider the possibility that you accidentally left your wallet on the night stand at home. Chances are, you will discover you simply left your wallet in an unusual place.

Notify the Proper People

If you cannot locate your wallet, you need to consider that it has been stolen. Having your credit cards and identification fall into the wrong hands can cause devastating problems, especially if someone decides to go on a shopping spree using your credit cards. Even worse than the loss of your good credit is the loss of your identity. Should someone use your information to steal your identify, if can take months or more to straighten everything out. You can be left with credit and finances in ruin. Notify the proper authorities. You don’t want to try and explain why no missing wallet report was filed should your cards be used for fraud or identify theft.

Cancel Credit Cards

The next step is to make a list of the information that was in your wallet and notify everyone thatyour credit, ATM or debit card or other information is missing. Every card issuer hasprocedures to go through in order to protect you. It is worth a bit of hassle to ensure the safety of your cards. Be sure to also call your bank. Your cards will be cancelled and new cards, with a new number and a new password will be issued. If you have accounts that are used for automaticpayments, be sure to deal with this situation before a problem arises with a closed account. If anything in your wallet has your social security number on it, notify Social Security. Also notify the department that issued your driver’s license to start the process of getting a new license.

Change Locks

If you kept keys in your wallet, change the locks as soon as possible to protect yourself and your property.

Save your self a TON of trouble before you lose your wallet or have it stolen.

1) Put all your cards neatly face down on a copier & make a color copy.
2) Turn them all over carefully and make a copy of the backs.

Now you have all the info you need to cancel and replace cards. If you were smart enough to include your drivers license, you have a copy of your photo ID – very useful at your bank or Credit Union when you replace your ATM card.

3) File the copy with your will or other important documents. And if you want to be extra careful, mail a copy to yourself at the address of a trusted friend/relative – to hold for you til you need it. (in case of catastrophe, such as hurricane, fire, etc)

Total – this takes 10 minutes – add 15 if you have to go to a copy shop. It will save you hours or days if the wallet doesn’t turn up quickly.

An extra step worth taking is to make a list of all the bills charged monthly to any card. You will have to notify the companies of the new number on your newly issued cards. I forgot to include the website payment and my site was suspended. Lost a lot of traffic.

From Cheaplikeme.com Posted by Mags