When your wallet is stolen, you have two major issues to deal with. They are (to paraphrase the old Jack Benny joke) your money and your life. A thief with your driver’s license and credit cards can use the contents of your wallet to obtain a new set of identification documents in your name—making your funds and your credit line completely accessible. Following the steps in this checklist will help ensure that your identity as well as your money and credit are protected.

1. Report the crime to the police right away and get a copy of the police report. You may be asked for it later by your credit card companies, your insurance company, your bank, or other agencies to verify the crime.

2. Call each credit card company to report the theft right away. If you’re away from home, ask a family member, neighbor, or house sitter to pull your master list of credit card numbers and other relevant information from your files to make sure you cancel every card. (See chapter 2, "Records and Documents You Need at Home.")

3. Report the theft to the three major credit reporting agencies, Experian (formerly TRW), 800-682-7654; Trans Union, 800-916-8800; Equifax, 800-685-1111. This alerts them to halt any credit checks that could be the result of a thief shopping in your name.

4. If your checkbook or ATM card was taken, call your bank immediately and stop payment on outstanding checks that don’t sound familiar. Request new bank accounts, a new ATM card, and a new PIN.

5. If you have a safe deposit box at the bank, call that department to report the theft.

6. Notify the passport office to watch for anyone using your identification to obtain a fraudulent passport.

7. Inform your local and long distance telephone carriers and your utility companies that someone might try to open service in your name.

8. If your keys have also been stolen, change all the locks on your home and car.

9. After the theft:

• Monitor your credit card and bank statements carefully for charges that occurred after the theft and that might have slipped past officials at these agencies.
• Order your credit report from all three agencies (Experian, Trans Union, Equifax) at least quarterly, to catch possible fraudulent use of your credit