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- Ten Things You Must Do When Your Wallet is Stolen
- Eddy & Schein in the Public
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Ten Things You Must Do When Your Wallet is Stolen
Within the past three months, three Eddy & Schein clients have had an incident:
- One had his name, address, and phone number used by an unknown party
- Another lost her wallet in a cab
- A third had his wallet stolen from his outside jacket pocket
The loss of wallets full of the information that can be used for identity theft is bothersome and frightening. If theft or loss occurs for one of your clients or family members, there are some immediate steps to take:
1. Most importantly, keep good records of everything you do
in dealing with the authorities and financial companies.
Keep a log of all conversations, including dates, names, and phone numbers. Note the time you spend and any expenses incurred in case you are able to seek restitution in a later judgment or conviction against the thief. You may be able to obtain tax deductions for theft-related expenses. Confirm all conversations in writing. Send correspondence using certified mail with return receipt requested. Keep copies of all letters and documents.
2. Credit Cards
Contact credit card companies and cancel missing cards. Request replacement cards with new account numbers. If there are regular monthly debits to any of the credit cards, call the service providers directly (newspaper, charitable donations, etc.) and suspend charges until new credit cards arrive.
3. ATM Cards
Contact bank and fill out a fraud affidavit. Get a new card, account number, and password. Do not use your old password. Start with a phone call and immediately follow up in writing. Closely monitor your account statements. You may be liable if the fraud is not reported quickly. Be sure to read the debit card contract for information about liability. Some cards are better protected in cases of fraud than others.
4. Police Report
the situation to the police. Get a copy of the police report, which is called an "identity theft report." Keep the phone number of your investigator handy and give it to creditors and others who require verification of your case.
5. Credit Reports
Immediately report the situation to the fraud department of the three credit reporting companies - Experian, Equifax, and TransUnion. Placing the fraud alert means that your file will be flagged and that creditors are required to call you before extending credit. Even after reporting to the three companies, it is important to continue to monitor your credit reports. When you place fraud alerts, you can ask for free credit reports. Then in a couple of months, ask for another set of free credit reports by calling 877-322-8228, or by emailing www.annualcreditreport.com.
6. Driver's License
Contact your local DMV for replacement. Scroll to your state's information. You may need to change your driver's license number if someone is using yours as ID on bad checks or for other types of fraud. Call the Department of Motor Vehicles to see if another license was issued in your name. Fill out the DMV's complaint form to begin the investigation process. Send supporting documents with the completed form to the nearest DMV investigation office. Put a fraud alert on your license if your state's DMV provides a fraud alert process. Replacement licenses can be ordered online (for a fee $17.50 in New York State) or for free by going to the Department of Motor Vehicles in person.
Dependent upon what else is missing, here is who to contact for more help.
7. Social Security
Contact Social Security and ask for a card replacement. Either complete the SSA's application online, or by calling the SSA at (800)772-1213, or by visiting your local SSA office.
8. Medicare
Contact Social Security and ask for a card replacement.
9. Passports
Whether you have a passport or not, write or email the passport office to alert them to anyone ordering a passport fraudulently.
U.S. Department of State, Passport Services
Consular Lost/Stolen Passport Section
1111 19th St., NW, Suite 500
Washington DC 20036
10. Phone Service
If your calling card is missing or there are fraudulent charges, cancel it and open a new account. For your own phone accounts, add a password that must be used any time your local, cell phone, and long distance accounts are changed.
Do you or someone you know need help managing your personal business during times of crisis?
Please call 212-987-1427 for a
Free Telephone Consultation
Rebecca R. Eddy and Gideon Y. Schein in the Public
March 11 @ 8 pm
Rebecca Eddy to facilitate a teleconference for Dorot Caregivers on "Preparing for an Emergency"
March 17
Rebecca Eddy to facilitate a morning workshop for Estate Planning Council on "Working With Seniors"
March 27 @ 9 am Pacific Time
Gideon Schein to be interviewed on Blog Talk Radio with David Solie, an Internet radio program that provides listeners with new ideas and strategies for understanding and communicating with aging parents
April 15
Gideon Schein will facilitate a webinar, under the auspices of American Association of Daily Money Managers (AADMM), on the subject of
"MEDICARE- Navigating the system from registration through denials."
April 24
Rebecca Eddy and Kristin Bergfeld of Bergfeld Estates will lead a seminar on "Aging in Place" at the NAPO Annual Conference
Principals from Eddy & Schein are available to speak on a variety of issues relating to senior life. Please call us at 212-987-1427 to discuss your upcoming event or webinar.
Previous Newsletters Archived on our Website
Our previous newsletters are archived on our website at: http://www.eddyandschein.com/newsletters.php
At any time, from our home page, you can click on the "View Archives" link situated below the subscription sign up space.
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Please feel free to contact us and take advantage of our free telephone consultation. We would be happy to talk to you about how we can provide Life Keeping, Not Just Bookkeeping.®
Sincerely,
Copyright, December 2009, Eddy & Schein, Inc.
About Us
Partners Rebecca R. Eddy and Gideon Y. Schein, both MBAs and certified Professional Daily Money Managers, have a primary focus on the needs of an aging population:
- Seniors who need help in organizing and streamlining tasks such as expense and revenue tracking, bill paying, health insurance claims management, or providing regularly required information to accountants and lawyers.
- Seniors who may or may not have an estate plan in place, but need to catalog assets and personal effects and coordinate and track philanthropic activity.
If you have not already downloaded our "10 Mistakes to Avoid: Make Your Senior Years Easier," go to www.eddyandschein.com/10mistakes.
Our Promise
Eddy & Schein In-Home Administrators for Seniors® is dedicated to making life easier when it comes to managing seniors' personal administrative matters. From simply gathering and paying bills each month to performing a complete review of seniors' financial and personal affairs, we provide exactly the help needed. Working with Eddy & Schein, clients are given private, one-on-one attention at home. Together, we'll develop a plan to address our clients' specific needs. And of course, privacy is strictly guaranteed.
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