Things To Do If You Lose Your Wallet

Of all the things that a human being has, the wallet is perhaps one of the most prized possessions. And why not? It holds so much more than just your cash. People keep their credit and debit cards in it, their driver’s license, their house keys, and even their insurance card among many other important things. The most important of your Ids can be found inside your wallet.

However, what happens when we lose our wallet? Life goes for a toss, and our heart misses a beat or two open not feeling our wallet in our back pocket. Losing a wallet could be one of the harshest things that a human being ever has to suffer from and it has many consequences along with it.

In case you have lost your wallet, there are some things you should do immediately do to ensure that you don’t have to face the blunt circumstances. Here is all you need to do if you lose a wallet:

Police Report

Yes, the first thing that you should do after losing your wallet is to rush to your nearest police station and file a missing or lost report of your wallet. The report should include details of all the major things inside your wallet like your bank cards, your driver’s license, your house keys or anything of that sort. This is an imperative step because in case someone uses your cards for frauds, then you will always find yourself on the safer side due to this report. Along with that, the police will know who to contact in case they can find your wallet.

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Block Your Cards

In case your wallet was stolen, the first thing any thief will do would be to try and use your credit or debit card to withdraw cash. The thief can also sell the information of your cards to someone else. This could have massive consequences for you as all the money you have can be taken by some fraud people. So, you should call up your bank as soon as you can and inform them of your lost wallet. Ask them to block your previous card and issue you a new one with immediate effect. We all prefer using our cards over cash, so you might need a new card sooner rather than later.

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Inform DMV Of Lost Driver’s License

Many people might not consider this as a big deal; however, there is so much damage that can be done with your government verified photo proof. Someone might use your driver’s license to pay car rentals or even attempt theft. If your license is used by someone during these periods, then you will be held responsible for everything if you haven’t reported the matter to the DMV. Don’t wait for the bills or the bills to arrive at your door. If you have registered the issue with the DMV, then it will make it much easier for you to contest wrongly filed legal charges against you. You can verify the contest unpaid bills, which someone else took with your Id if you inform the DMV.

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Notify Your Insurance Company

Most of us carry our medical benefits card in our wallet. In today’s world, medical identity theft is a big deal and someone can potentially use it in conjunction with your driver’s license to pay their medical bills. Notifying the insurance company is not something many people do, but, with the onslaught of medical identity theft, we would highly recommend you to bring the matter up with your insurance company. That way you can stay assured that no one is going to misuse your medical benefits card.

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Change Your Locks

In case you were carrying your house keys in your wallet, like most of us do; it is highly advisable that you change the locks to your house. Even if you have found your lost wallet, you should consider doing this because many people make copies of your keys and can later break into your house. In fact, it is a tried and tested way of robbing someone’s house- lift the wallet, get the address from the driver’s license, copy the key and then hand it to the police. Definitely, change your house locks to ensure maximum safety of your family and your possession. In case you lost your car keys, it is advisable to bring up the issue with your car dealer.

All these steps ensure that you don’t have the consequences of anything. However, before starting to rebuild your wallet, just look around for your wallet for some time. Chances are that you might’ve put it in the laundry basket by mistake.

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(Featured Image Courtesy: Top Reviewed Wallet)