Ex-wife's credit card fraud

Dear Dave,

My husband's ex-wife used his Social Security number to establish credit card accounts. We're disputing the charges and writing the credit card companies. Can we do anything else to protect ourselves?

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Kim

Dear Kim,

Yes. Put a fraud victim alert on your credit bureau reports immediately. You also need to file a police report and, if possible, have her arrested. She has committed criminal fraud.

You should also be talking directly with the fraud victim division at the credit card companies. This isn't a dispute, Kim. It's a denial of responsibility. Let them know that you will NOT be paying these bills because they're the result of a criminal act perpetrated against you.

Make sure you stand your ground with the credit card company and show your teeth if you have to. They'll probably try to make you feel like you should pay this bill. Don't do it!

Dave

Roommate unable to pay his half of bills

Dear Dave,

My boyfriend has been my roommate off and on for the last five years. He's gotten himself severely into debt, so now I'm stuck paying everything instead of just my half of the expenses. He spends most of the time just sitting around. He won't listen to me or try to work with me, and I've had enough. I love him, but I don't know what to do.

Brenda

Dear Brenda,

It sounds more like you're shacking up with this guy when the mood strikes you rather than having a legitimate roommate situation. And from the way you've described it, he doesn't sound like a very good roommate, much less marriage material.

You've spent a lot of time with this guy, and I know there are some deep feelings involved. But if you can't see a long-term future with him and he's unwilling to even try, then I think you need just call this relationship what it is, move on and start putting your own life together – financially and otherwise.

Good luck, Brenda.

Dave

Where to sell a car

Dear Dave,

We have a new mortgage, a car payment and credit card debt. We have one vehicle that we had to pay off in order to get the mortgage approved – an older Durango worth $16,000. My car is a newer Saturn. We owe $9,000 on it and it's worth about $10,000. We're thinking about selling my car and buying a cheaper one for cash, but I'm concerned about the possibility of being without a car for a while. Also, where's the best place to sell a car?

Sandy

Dear Sandy,

You see all those ads selling cars in the newspaper because that method works very well. If you price your vehicle reasonably, chances are it will sell pretty fast.

I can understand that you don't want to be without transportation, but you can probably avoid that with a little planning. From the figures you've given me I'd suggest selling both vehicles, pay off your Saturn and then pay cash for two great $8,000 cars.

You can really begin attacking that credit card debt with a vengeance once your car payment is out of the way. And once that's done, you can begin saving for two nicer cars later!

Dave