What Would You Do if You Lost Your Wallet or Purse?

We've all seen the commercial with the hysterical lady who's had her purse snatched on vacation. Television talk shows have also featured guests who have related their horror stories about a lost or stolen wallet and the fraud that is committed using that person's name, address, social security number, and credit.

Be prepared the next time you travel. Kathryn, a friend from San Francisco, had her wallet stolen last month and within a week the thieves had ordered an expensive vacation package, applied for a credit card, had a credit line approved for a major purchase, received a PIN number from DMV to change her driving record information online, and more!

Here is some critical information to limit the damage in case this should happen to you or to someone you know.

1. Cancel your credit cards immediately. The key is having the toll free numbers and your card numbers handy so you know who to call. Keep these where you can find them easily. Carry a duplicate copy in your luggage in case your entire purse is snatched while on a trip.
2. File a police report immediately in the jurisdiction where it was stolen. This proves to credit providers you were diligent and is also the first step to jump start an investigation by local authorities.
3. The most important call you can make is to the three national credit reporting organizations. Make these calls immediately to place a fraud alert on your name and social security number. The alert means any company that checks your credit knows your identity was stolen and they will contact you by phone to authorize new credit.

A month after Kathryn had her wallet stolen, she independently reviewed her credit and learned that numerous companies had been checking her credit (because of the thieves' purchasing activities). She was not notified of credit checks, even for very large purchases, until after she filed a fraud alert report. Make these calls immediately.

The following phone numbers are provided to assist anyone who might become a victim of identity theft:

• Equifax: 1-800-525-6285
• Experian (formerly TRW): 1-800-301-7195
• Trans Union: 1-800-680-7289
• Social Security Administration Fraud Line: 1-800-269-0271

More Travel Tips

Ask The Expert

About Marybeth Bond

Archives