Lost or Stolen Wallet or Purse

Suppose your wallet containing all your personal and financial identity cards is lost or stolen.  It happens more frequently than you think, and when it does, panic takes over.  Your whole life is in that purse of wallet.  It's bad enough if you're in your hometown, but it is pure hell if you're away from home where all of your account information is located.

Here is something you can and should do as soon as possible after reading this column; that is, if you haven't already done what I'm going to suggest.  It might save you a ton of money and maybe even your identity.  If you have a home office printer-scanner, you can do this at home; otherwise, go to any office store where you can copy documents.

Take all of the credit/debit cards, ATM cards and any other health or organizational cards out of your wallet or purse.  Place them on the scanning bed of the printer face down.  You should be able to fit eight cards per sheet of standard size printing paper with a little room between each card.  You want that space to write info from the reverse side of each card.  Print at least one copy, but two is even better.

Perform the same copying process until you have copied every important card in your wallet.  It might take several sheets of paper if you have many cards.

After you've finished copying the cards, turn each one over and find the toll-free number to call in case of loss or theft, or the customer service number.  Write this number below the card image.  Also write down the security code, if there is one.  On credit/debit cards, it is usually a 3-digit number in its own box right behind the signature box on the reverse.

Here's a tip that will keep that security code somewhat more safe in case you ever lose the documented photocopy: Make the security number an extension of the phone number with an 'X' between the phone number and the code, as in 123-456-7890X335.

If you have more than one sheet of paper with the card copies on them, staple them together.  Then seal them in a an envelope and give them to a trusted family member or friend to hold for you in a safe, but accessible place.  You could also keep it yourself and place it in an overnight bag that you keep in your possession while on a trip, but keep in mind that if you lose the photocopy you are open to computer fraud with those credit cards.  The family/friend advice is much safer.

The loss or theft of your wallet and all those cards will trigger a phone call to that trusted person from you as soon as possible.   Have that person read the phone numbers to you (they will also read the security code, but won't know what it is) and record them so that you can call to report the loss to the company and place a fraud alert on the cards.

Now that you know, take action immediately to protect yourself in the event of loss or theft.  You might be glad you did if it ever happens to you.