Losing Your Cell Phone Could Cost You

[Lisa03]

Do you know where your cell phone is right now? If not, you'd better find it.

You could not only be out of touch, but you could also be out of cash if it is lost or stolen.

It happens all the time. People lose an estimated $2.4 million cell phones each year in the US.

And thieves steal another $600,000.

"Someone had taken my cell phone, used it, and then I incurred a lot of charges."

But what if a stranger racks up calls on your phone.

"The charges will build and you will be responsible," says Thomas Wyatt from the Federal Communications Commission.

That's right ... you're responsible.

Major cell phone companies say you must pay for all calls made until you report the phone missing with some exceptions.

"We will credit you for any calls that were made up to 48-hours after you lost your phone," says John Johnson of Verizon Wireless

But grace period or not, consumer advocates are angry saying stolen phones should be treated just like swiped credit cards.

"When somebody steals things from you like your credit card, we don't hold consumers liable or we set a cap on their liability for the acts of a thief. that's not true here," says Carl Hilliard of the Wireless Consumers Alliance

"I think we should have some legislation, which puts at least a cap on the liability the consumers have when their phone is stolen."

The Cellular Telecommunications and Internet Association disagrees saying we should compare phones to other utilities not credit cards.

In a statement, the group said "if one accidentally leaves the lights on at home, the homeowner is still responsible for the electric bill. Similarly, if a wireless phone owner accidentally loses a phone or has it stolen, the owner is responsible."

"We had $1,100 racked up in charges."

Adam Greindl was livid when he found out he was responsible for charges made by a cell-thief. He says he did the right thing by contacting his provider right away.

"There were no notes recorded on the account that we had even made the call."

So, experts say it's not only critical to call the cell phone company, but to keep notes about the call.

Also, read your contract and help yourself by keeping your phone locked at all times.

"Make it more difficult for the thief to use it. if it's difficult, chances are that the phone will be chucked," says Hilliard

Good future advice for Adam. After asking the Better Business Bureau to step in, he resolved his case but feels like he was victimized twice.

"I'm angry that we had to go through that - that, at this point, there's just, it seems like there's nothing guy we can do."

If possible, call with another cell phone. Best way to have a record of calling your provider in case they don't make a note of it in your file.

If you have insurance for your cell, keep in mind, it's for the phone itself, not the minutes. So, if it's stolen, your phone will be replaced, but you are still responsible for the bill.

Now some cell phone companies will let you deactivate your cell phone even on the web if lost.

And in some cases ... you can reactivate your old number for free on a new phone.

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