Identity Protection

Lost Wallet? Here’s What to Do

Published August 25, 2021

Reduce panic when your credit cards and driver’s license go missing by studying these recovery steps

Have you ever experienced that moment’s panic when you reach into your back pocket to find your wallet is missing? If so, you’re familiar with the heart-sinking experience that leads to a flood of thoughts of worst-case scenarios like stolen identities and compromised credit cards. While you hope the wallet turns up intact, it is best to equip yourself with the proper knowledge to restore a lost wallet.

Before cancelling credit cards and applying for a new driver’s license, perform your due diligence to ensure your wallet is indeed lost, or stolen. Check the pockets of frequently used handbags or recently worn clothing. Cars, gym bags, and customer service desks at your local stores are also worth a look.

If your wallet is still MIA, you’ll want to act quickly to reduce the potential for monetary damage. First, call your bank(s) to freeze your accounts. This prevents thieves from withdrawing cash from an ATM or making credit card purchases. You can also enact freezes and set up fraud alerts from your bank’s mobile app. Out of extreme caution, you can cancel credit and debit cards and request new ones.

Proving loss or theft can be difficult, thus creating barriers in your attempts to dispute wrongful charges. Filing a police report demonstrates your commitment to restoring your lost wallet and will prove to credit card companies and retailers alike that certain purchases are indeed fraudulent.

You also want to contact all agencies associated with other documents stored in your lost wallet such as a driver’s license, insurance card, social security card, and membership IDs. The DMV and IRS Identity Protection Unit should be at the top of your list.

Lastly, take inventory of your wallet. In addition to the array of payment cards, consider the amount of cash, miscellaneous keys, fobs, checks, and other items you may need to recover.

Do you have Legal Resources Identity Theft Protection? Visit your portal for further Lost Wallet assistance.