It’s the something that happens every day, but never dreamt of happening to you. You’ve lost your wallet, and the second you realize it, you start to panic. How can you not? Your wallet not only contains cash but also a number of identification cards like driver’s license, credit cards, ATM cards, security cards, and more. You could be the next victim of an identity theft. But you have to resist the urge to panic at this very moment. Instead, you should wisely do the next moves in order to protect your identity. This is certainly why an online id verification service exists.
Here are five tips for protecting your identity after losing your wallet.
- Contact your Credit or Debit Card Company.
One of the most common forms of identity theft is credit card fraud. If your wallet goes missing, the first thing that you need to do is call the bank or financial institution that issued your credit/debit card. Thieves can do a lot of damage to your credit card in a short time. You can put on a fraud alert or credit freeze on your accounts so that any creditor will have to verify your identity before any credit is approved. It makes impossible for a thief to run a huge chunk of a bill on your behalf.
- Report the loss or theft to the local authorities.
It is important that you report the loss of your wallet. This way, you have an evidence in favor of you should you become a victim of identity theft. In worst case scenarios, you do not want to end up explaining why you did not report the loss in the first place. After you have reported your case, make sure to keep a copy for your own records.
- Replace your Social Security card.
One should never carry their Social Security card in their wallets. Thieves can easily apply for loans or lines of credit in your name with the information contained in your Social Security card. However, if you made a mistake of keeping your card in your wallet, you will have to replace your lost social security card. You will not be given a new number, but you will be given a new card. This may not help you in terms of fraud and identity theft but you still have to inform the social security administration to reduce your risk of identity theft and so you can get help from the right authorities.
- Get a new driver’s license.
You need to get a new driver’s license if your wallet is stolen. Otherwise, you could face a large fine if you are driving without one and you are stopped by a police officer. Get in touch with your local DMV as soon as possible to report the loss.
- Consider getting an identity theft protection if you still don’t have one.
This comes in handy once you have lost your wallet. Getting an identity theft protection membership will make the process faster. The company will help you immediately cancel or replace your cards and other items in your wallet.
