| What to do if wallet is stolen | | | | -- Having each credit-reporting agency attach a fraud |
| A stolen wallet is a problem. But you'll have bigger | | | | alert to your credit profile. Asking that no new credit or |
| problems if it turns into full-blown identity theft. | | | | changes in personal information be processed without |
| Identity theft occurs, among other things, when a thief | | | | calling you for immediate approval. |
| takes your personal information and uses it to open | | | | -- Examining your credit report and doing more than |
| new credit accounts. In other words, the issue goes | | | | just looking at open accounts. Look for new credit |
| beyond theft within existing credit accounts. It involves | | | | inquiries as well. These inquiries may be the result of |
| opening brand new fraudulent accounts, using your | | | | an identity thief trying to open a new fraud account |
| name and personal information, so the new credit can | | | | with the creditor. |
| be tapped by the thief. | | | | -- Having the standard 90-day fraud alert with the |
| To shut down fraudulent activity you must go beyond | | | | credit reporting agencies increased to at least one |
| simply contacting the issuers of existing credit cards. | | | | year. Why? Because fraudulent credit inquiries can |
| You must widen the safety net. | | | | result in the establishment of new credit account for |
| This includes: | | | | up to one year after the inquiry was made. |
| -- Calling your state's department of motor vehicles | | | | -- Filing a police report with your local police |
| and asking them to attach a "fraud alert" to your | | | | department. This is extremely important because both |
| driver's profile. Request that no part of your personal | | | | credit reporting agencies and credit issuers are going |
| information, such as home address, be changed | | | | to want to see proof that you're actually a fraud |
| without alerting you. | | | | victim. How are they going to know you're not simply |
| -- Contacting any organizations or memberships if their | | | | trying to get out of paying for bills you actually |
| cards were in your wallet. Have a fraud alert attached | | | | created? A police report goes a long way in dealing |
| to them. | | | | with this "proof" issue. |
| -- Contacting the big 3 credit reporting agencies | | | | -- Conversing back and forth between those who |
| immediately. Their phone numbers are as follows: | | | | issued fraudulent accounts and the credit reporting |
| Experian - 888-397-3742, Trans Union - 800-888-4213 | | | | agencies in order to get your credit profile cleared of |
| and Equifax - 800-685-1111. Ask each one to send you | | | | errors. In other words, you're going to have to follow |
| a free credit report. Your credit accounts, including | | | | thru to make sure any fraud accounts you've identified |
| ones resulting from or tainted by fraud, appear in these | | | | are actually removed from your credit profile. |
| reports. | | | | |