If someone has stolen from you, call your bank or card issuer first, then freeze your credit, document what was taken, file a police report, and work through insurance, restitution, and civil remedies to recover what you can. What to do when someone steals from you depends partly on what was taken — cash, cards, personal property, or personal information — but the first hours matter in every case, because federal protections on card fraud shrink the longer you wait.
Call Your Bank or Card Issuer First
The speed of that first call directly determines what you could owe for charges you did not make. The rules differ between credit and debit cards, and the gap is large.
For credit cards, federal law caps your liability for unauthorized charges at $50, and that cap applies only to charges made before you notify the issuer.1Office of the Law Revision Counsel. 15 USC 1643 – Liability of Holder of Credit Card Most major issuers waive even that $50 as a matter of policy, so you often owe nothing for fraudulent credit card charges once you report them.
Debit cards are different. Under the Electronic Fund Transfer Act, your liability scales with how long you take to call:2Office of the Law Revision Counsel. 15 USC 1693g – Consumer Liability
- Report within 2 business days of learning of the loss or theft, and your maximum liability is $50.
- Report between 2 and 60 days, and your liability can reach $500 for unauthorized transfers made after the two-day window closed.
- Wait more than 60 days after your statement is sent, and the bank is not required to reimburse unauthorized transfers that occurred after that 60-day period. Your potential loss is unlimited.
Call the number on the back of your card or your bank’s 24-hour fraud hotline. Do not wait for the next business day.
Lock Down Your Identity and Physical Access
If a wallet, phone, or bag was taken, change the passwords on linked banking apps, email, and cloud services from a different device. If house keys or a garage opener went with it, rekey or replace the locks.
Then turn to your credit file. A credit freeze blocks potential creditors from pulling your report, which stops a thief from opening new accounts in your name.3Federal Trade Commission. Free Credit Freezes Are Here Freezes are free under federal law, and you can lift one whenever you need to apply for legitimate credit.4Consumer Financial Protection Bureau. What Is a Credit Freeze or Security Freeze on My Credit Report You have to place a freeze with each of the three major bureaus separately: Equifax, Experian, and TransUnion.5USAGov. How to Place or Lift a Security Freeze on Your Credit Report
A fraud alert is lighter protection. It flags your file so creditors are supposed to verify your identity before approving new accounts, and you only need to contact one bureau — it notifies the other two. An initial alert lasts one year and is free.6Federal Trade Commission. Credit Freezes and Fraud Alerts If your Social Security number or identifying documents were taken, a freeze on all three bureaus is the safer choice. You can place both a freeze and an alert.
Document What Was Taken
Before you file a police report or an insurance claim, pull together everything that proves ownership and value. Useful records include:
- Purchase receipts or bank statements showing what you paid.
- Photographs of the items, especially shots that show condition.
- Serial numbers for electronics, firearms, and jewelry, which law enforcement can run through recovery databases.
- A written timeline noting when you last had the item, when you discovered it missing, where you were, and anything you know about how the theft happened.
Valuation matters in two directions. Your insurer will decide the payout based on your documentation, and many policies reimburse at actual cash value — replacement cost minus depreciation — rather than the cost of a comparable new item. Check which standard your policy uses, because the number can differ substantially.
Valuation also shapes the criminal case. Every state sets dollar thresholds that separate misdemeanor theft from felony theft, and those thresholds range from a few hundred dollars to over $2,000. Overstating or understating value can affect how prosecutors charge the case and whether it draws investigative resources.
File a Police Report
A police report is the official record that a crime occurred. The case number it generates will show up on insurance claims, credit disputes, and identity theft paperwork for weeks afterward, so keep a copy where you can find it.
You can usually file in one of three ways: through your local department’s online portal, by calling the non-emergency line, or in person at a precinct. Online reporting is convenient but limited in many jurisdictions to lower-value property crimes where the suspect is unknown. If you can identify who took the item, if the loss is above a certain threshold, or if the theft involved violence or a confrontation, expect to report in person.
A detective may contact you within a few business days to ask follow-up questions or request surveillance footage. If so, respond quickly — momentum matters in property crime investigations.
If Your Personal Information Was Taken
When the theft reaches your Social Security number, driver’s license, or account credentials, ordinary property-theft steps are not enough. Identity theft has its own recovery track.
Report at IdentityTheft.gov
The Federal Trade Commission’s IdentityTheft.gov is the central starting point. You describe what happened, and the site generates a personalized recovery plan with step-by-step instructions and pre-filled letters to creditors and debt collectors.7Federal Trade Commission. IdentityTheft.gov The report you create also serves as your official Identity Theft Report, which unlocks certain legal rights with credit bureaus and businesses.8Federal Trade Commission. IdentityTheft.gov Helps You Report and Recover From Identity Theft
Block Fraudulent Entries on Your Credit Report
Under the Fair Credit Reporting Act, credit bureaus must block fraudulent information from your credit file within four business days of receiving your identity theft report, proof of your identity, and a statement identifying which entries are fraudulent.9Office of the Law Revision Counsel. 15 USC 1681c-2 – Block of Information Resulting From Identity Theft A block removes the entry rather than flagging it for investigation, which makes it stronger than a routine dispute.
Get Transaction Records From Businesses
Any business that opened an account or processed a transaction in your name has to provide you with copies of the related applications and records, free of charge, within 30 days of a written request. You can also authorize a law enforcement officer to get those records directly, without a subpoena.10Federal Trade Commission. Businesses Must Provide Victims and Law Enforcement With Transaction Records Relating to Identity Theft Those records document the fraud and sometimes point to the thief.
Getting Your Money or Property Back
Multiple recovery paths exist, and they are not mutually exclusive. You can pursue an insurance claim, seek court-ordered restitution in the criminal case, and file a separate civil lawsuit at the same time.
Insurance
Homeowner’s and renter’s policies typically cover theft of personal property. After you file, an adjuster reviews your police report and documentation to set the payout. Most policies require a deductible, and the actual-cash-value versus replacement-cost distinction can make a significant difference for older items. Read your policy before you argue a number.
Criminal Restitution
When a defendant is convicted of a federal property offense covered by the mandatory restitution statute, the court “shall order” the defendant to return the property or pay its value — measured as the greater of its value at the time of loss or at sentencing.11Office of the Law Revision Counsel. 18 USC 3663A – Mandatory Restitution to Victims of Certain Crimes The court can also order reimbursement for expenses tied to participating in the investigation or prosecution, including child care, transportation, and lost income.12Office of the Law Revision Counsel. 18 USC 3663 – Order of Restitution State courts have their own restitution rules, and most allow or require it at sentencing. A restitution order is enforceable, but what you actually collect depends on the defendant’s ability to pay.
Civil Suit or Small Claims
If the criminal case does not make you whole, or no one is charged, you can file a civil suit for conversion — the legal name for someone wrongfully taking or keeping your property. You generally need to prove you owned the property or had a right to possess it, and that the other person wrongfully exercised control over it.
Small claims court handles lower-dollar disputes with simplified procedures. Depending on the state, limits run from roughly $2,500 to $25,000. You usually do not need a lawyer, and the rules of evidence are informal. A judgment opens the door to wage garnishment and liens against the defendant’s assets.
Every state imposes a statute of limitations on conversion claims, generally one to six years. Waiting too long can forfeit the right to sue entirely.
Taxes and Victim Compensation
You generally cannot deduct a personal theft loss on your federal taxes. The Tax Cuts and Jobs Act limited the personal casualty and theft loss deduction to losses caused by a federally declared disaster.13Internal Revenue Service. Publication 547 – Casualties, Disasters, and Thefts An ordinary stolen laptop, burglarized home, or pickpocketed wallet does not qualify. The restriction was enacted for tax years 2018 through 2025 and may have been extended; check current IRS guidance for your filing year.14IRS Taxpayer Advocate Service. IRS Chief Counsel Advice on Theft Loss Deductions for Scam Victims Narrow exceptions exist for property held for profit, such as investments or business assets, and for offsetting personal casualty gains in the same year.15Internal Revenue Service. Instructions for Form 4684 Deductible theft losses are reported on Form 4684.
Every state operates a crime victim compensation program funded in part by the federal Victims of Crime Act. These programs reimburse out-of-pocket costs that insurance and other sources do not cover — typically medical and dental expenses, mental health counseling, lost wages, and funeral costs, and in some states relocation, home security improvements, or crime scene cleanup. They act as a payor of last resort, so they pay only after other benefits apply. Most states require that the crime was reported to law enforcement and impose an application deadline of one to three years. Contact your state’s victim compensation board soon after the theft to find out what you can claim.