If Your Wallet is Stolen

We have all heard horror stories about fraud committed in a victim’s name after his/her wallet is stolen. In addition to the wallet being stolen, so is the name, address, Social Security number, credit, etc. Usually within a week the thieves order expensive cell phone packages, apply for a Visa or Mastercard credit cards, have a credit line approved to buy a merchandise, furniture or cars, withdraw cash, and on occasion receive a pin number from the Department of Motor Vehicles to change the victim’s driving record information online. Those are just a few of the horrors.

But here is some critical information to limit the damage in case this happens to you or 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 whom to call. Keep those in a safe place where you can find them easily. 2) File a police report immediately in the jurisdiction where the wallet was stolen. This proves to credit providers you were diligent, and is the first step toward an investigation (if there is one). 3) Most importantly, call the three national credit reporting organizations immediately to place a fraud alert on your name and Social Security number. The alert means any company that checks your credit knows your information was stolen and they have to contact you by phone to authorize new credit. Call these: Equifax, 1-800-525-6285; Experian (formerly TRW), 1-888-397-3742; Trans Union, 1-800-680-7289; Social Security fraud line, 1-800-269-0271.

Adapted from Redeemer PCA Diaconate Manual