This is a given: theft and forgetfulness.

Each and everyday, millions of us are subjected to one of or both of these casualties leaving our credit and debit cards to fall into the hands of those who are not honest enough to return them to us. 

Our bank accounts can be wiped clean and credit cards charged to the max before we’ve even realized what’s happened. 

I can’t make this experience totally stress free, but I will provide some tips that will keep you from becoming a helpless victim of circumstance.  I’d rather be proactive now than reactive later.  Let’s get started.

Things You Need To Do Now:

1. Make a list.  Compile a list of all credit, debit, rewards, and insurance cards, etc. in your wallet only listing the name of the card and the phone number to customer service.  There is no need to include account numbers in your list.  Your providers will be able to access your accounts with the personal information to supply to them verbally.
2. Put this information in a safe place.  There are very simple ways you can record and file away your list. 
   • Choice #1 – File the list in a safe place in your home.  “But, what if I’m away on vacation?”, I hear you say.  I’m glad you asked. 
   • Choice #2 – I think the best way to store this information for easy access is Google Docs.  It is an easy application with Google which only requires you to have a username and password.  If you already have a Google account, just use your current information to log in.  If you don’t, signup is really easy.  The major benefit of this choice is that it only requires an internet connection to be able to retrieve your information…anywhere, anytime.

What To Do If…

These ideas are not new and I certainly didn’t create them, but listed below are four basic rules to follow if you have been a victim of forgetfulness or theft.

1. File a police report (if your information was stolen).  You can provide this report to your bank and/or credit card providers as some form of proof, if needed.
2. Call the customer service departments of all card providers.  Do not forget to write down the name and mailing address of the person you speak with.  This information may be needed at a later date. 
3. Call the three national credit reporting agencies (Experian, TransUnion and Equifax).  Ask that they immediately place a fraud alert on your Name and Social Security Number.  This will require lenders to verify your identity prior to extending any new form of credit.
4. Make contact with your local Department of Motor Vehicles.  You must get your license replaced as soon as possible.  There is nothing worse than having your wallet stolen, thieves using your license to steal your identity, and then you get stopped by the police.  Do you think they will buy the “my wallet was stolen” story?  I’m sure they’ve heard that one a million times.

Will I Lose Everything?

Not if you act fast.  Thank goodness the Federal Government has given us different levels of protection.  By law, once you report the loss or theft, you have no further responsibility for unauthorized charges and there is a maximum liability.  See the different levels below.

• If you report the loss within two business days, your max liability will be $50.00.
• If you don’t report  the loss within two business days, your max liability could be up to $500.
• If you fail to report the loss within 60 days, your max liability is unlimited. OUCH!

Now Take Action

Don’t just read this information and say, “Aw, that was a nice little article.”  Use it.  Be inspired. Move.  Take the steps necessary now to protect yourself from disaster later.  I even took a few minutes today to create my own personal file in Google Docs. 

It would also be a great idea to include the “What to do if” steps above in your personal file.  The step by step directions will help you to keep a clear head. You’ll be glad you did.

p.s.  For these wonderful tips, I accept all forms of donations – cash, credit, PayPal.  (ok, ok, I’m just kidding).  Enjoy your day! 

Talk about your progress in the comments.  Did you use a different process?  Have you already been a victim?  Share your story!

***

Have you heard about my new special report?  Sign up to receive your copy today.  Be sure you are subscribed by Email or RSS so that you can be a part of the very first giveaway that will be happening this week!!!  Thank you so much for reading and I really appreciate the time you spend here .