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Aug152016

Minimize the Fallout of a Lost Wallet

Losing your wallet or having it stolen is distressing to say the least! Who wants to cancel all their credit cards and report their debit cards lost and have weeks go by with finances in limbo?

Take these steps immediately to minimize the fallout:

1. File a police report if stolen
2. Notify Star Choice Credit Union or your financial institution
3. Block or Cancel your ATM/debit card
4. Block or Cancel your credit cards
5. Notify the three major credit reporting agencies (Experian, Equifax, and TransUnion)
6. Get a new driver’s license
7. Get a free copy of your credit report from AnnualCreditReport.com to check if any fraudulent transfers have been made in your name. (Important: The Fair Credit Reporting Act guarantees you access to your credit report for free from each of the three nationwide credit reporting companies—Experian, Equifax, and TransUnion—every twelve months)
8. Report fraudulent transactions to the police
Plan ahead: Write down the contents of your wallet. A simple way to do this is to photocopy the front and back of all the cards in your wallet (make sure you make a copy of your driver’s license too), and then store this document in a protected place in your home such as in a safe. Losing your purse or wallet is never fun, but you can make it less stressful if you follow these tips! 

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