| Hi Taylor
- I lost my wallet a couple weeks ago and I'm still fretting
a little. I canceled cards and keep checking my accounts, but are
there other steps I should be taking? Stuff I can do to get a little
peace of mind?
Hi Anthony - Sorry to hear it! I lost my wallet on a family trip
a few years back and it's just the worst. Such an unnecessary headache.
Let's go over the steps you should take and the order in which you
should take them.
cards, and request charges reversed. Calling creditors to
have stolen cards cut off is the obvious first step. Before you
make that call, log into your account to see if anything has been
billed since the wallet went missing and let your bank/credit
card know that charge was fraudulent. This is also good information
to pass along when you file a police report, as it gives them
at least a fighting chance of finding out who took your stuff.
If you don't see suspicious charges, you still want to get the
cards canceled and replaced as fast as possible to limit your
exposure to not just stolen money, but also a stolen identity.
2. Initiate a credit freeze. A lot of lost wallets result
in a few small purchases and nothing more. If your cards and ID
fall into the wrong hands, you might have years worth of trouble
dealing with identity theft. The credit freeze is your best defense
against that, essentially announcing that no accounts can be opened
and no money can be borrowed in your name for six months or a
year. It might cause some issues with your personal finances in
the short term, but it's worth it to avoid having a criminal destroy
your credit and drain your funds. You can put a freeze in place
by contacting the major credit bureaus and it should be a pretty
3. Update automatic payments. This is the easiest step
to forget because it's less dire than the issue of having your
money or identity stolen. Still, if you forget to update all your
subscriptions with new payment info, you might be dealing with
late fees and cancellations. If you have to wait two weeks for
the new card to arrive, contact your providers, explain the situation,
and ask for a grace period. They're usually happy to comply.
you've already taken these steps, and you're through the worst of
it. Best of luck, Anthony!
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