Your wallet contains a treasure trove of personal information that a thief could use to steal your identity, or go on a shopping spree with your credit cards.

Take control of your financial documents by creating a record of everything in your wallet.

Start by creating a worksheet that compiles the vital information about every document in your wallet. Or, make copies of both sides of every document, and then place the copies in a secure place (a locked filing cabinet or a fireproof safe, not an unsecured drawer in your home or office.) Save a copy of this article in the same location.

If your wallet is ever lost or stolen, here's what to do:

• File a police report. If the loss or theft results in your identity being stolen or fraudulent use of your credit cards, you may need the police report as proof, and your credit card, bank or insurance company may require a copy.

• Cancel all of your credit, debit or charge cards. You'll be asked the time, place and amount of the last transaction you made. Typically, you'll receive a replacement card in 24 hours.

• Get another drivers license. If there is evidence of fraudulent activity using your license, the department can place a flag, alert or comment on your record.

• If your wallet contains any bank account information, report the loss to your bank immediately. Cancel your savings and checking accounts, and open new ones. Request a new ATM card, account number and change your Personal Identification Number (PIN). If you have outstanding checks, stop payment on them.

• Call the fraud departments of each of the credit bureaus (Equifax, Experian and TransUnion) and request that a fraud alert be put on your credit report. Creditors will require your permission prior to opening a new account in your name, thereby preventing someone else from opening cards in your name.

In the subsequent months, be vigilant about reviewing your various bank, credit-card and other accounts for unusual transactions. Be sure to review your credit reports when you receive them for any accounts opened without your authorization.