What To Do When Your Wallet Is Stolen

TMZ reported on August 23, 2012, "Troubled 'Terminator' star Edward Furlong -- not to be confused with troubled "Terminator" star Nick Stahl -- claims he was ROBBED on the streets of L.A. this morning ... but truth is ... he was asking for trouble.

Law enforcement sources tell TMZ, Furlong flagged an officer making the rounds in Skid Row -- one of the most drug-infested area in L.A. -- and claimed he had asked a man for directions ... and the man aggressively demanded his wallet.

Not wanting trouble, Furlong says he obliged ... and the dude took off. No weapons were used." Entire Story

Why would someone want to steal your wallet or purse? You may think it is for the money, but there is something far more valuable thieves are after: your identity. Lifelock.com says, "Of identity theft victims who knew how their information was stolen, 20% indicated it stemmed from a lost or stolen wallet." Was someone trying to steal Furlong's money or his identity? It is hard to say, however, TMZ also reported on August 29 that Furlong's wallet was returned.

You can avoid many of the headaches a stolen wallet can bring by being proactive and knowing what to do immediately after the theft. Here are some tips.

Before your wallet is stolen.
-Keep the number to report lost or stolen cards handy (but not in your wallet!).
-Make photocopies of your wallet’s important contents (driver's license, etc.).
-Don't keep your social security card in your wallet, and limit the number of credit cards you carry in your wallet.
-Never leave your wallet or purse unattended.

After your wallet is stolen.
-Monitor bills for any fraudulent activity on any accounts.
-Call your credit card and ATM card issuers.
-Open a report with local Police or Sheriff
-Contact your bank or credit union’s fraud department and report the event.
-Order and begin a vigilant review of your credit reports
-Report a missing driver’s license to your state’s department of motor vehicles.
-If your keys are missing change the locks on your home and / or car.

Resources
http://www.identitytheftlabs.com/stolen-wallet-purse/
http://www.kiplinger.com/features/archives/my-wallet-was-stolen-4-lessons-learned.html
http://www.tmz.com/2012/08/29/edward-furlong-robbery-skid-row-wallet-returned-video/
http://www.tmz.com/2012/08/23/edward-furlong-robbed-skid-row-terminator/

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