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We get a lot of credit questions here at Credit.com. In this series of posts, I am answering some of the most frequently asked questions we receive.

Q: Our divorce decree says that my ex-wife is supposed to pay off the Visa. (She made most of the charges on it and should pay it.) But she hasn’t and my credit has taken a beating. I’m not happy. Is there anything I can do?

A: It’s not unusual for joint accounts to cause problems long after a marriage is over. Your divorce decree may state that your ex is responsible for paying that credit card, but as far as the credit card issuer is concerned, you are both responsible for the account. After

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The architect of one of the largest bank frauds in American history was sentenced to 30 years in prison late last week. Lee B. Farkas, former CEO of one of the largest mortgage lending companies during the subprime housing boom, also will have to pay $38.5 million in fines.

The scam cost banks and investors $2.9 billion. Farkas tried, and failed, to cover some of the losses with $570 million from the taxpayer-funded Troubled Asset Relief Program.

Thirty years in prison could be the equivalent of a life sentence for Farkas, who is 59. But it is far less than the 385-year term sought by prosecutors.

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I frequently get questions from consumers wanting to understand what credit information in their credit report is most important or most heavily weighted in the calculation of their credit score.  Each person’s score is unique as it reflects projected risk based on credit information resident on that person’s credit file at the time the lender requests a score and credit report to make a lending decision.

Both FICO and VantageScore provide information regarding each category of credit behavior their scores take into account, and the relative importance of each in determining a credit score.

Pie Chart: Credit attributes contributing to a VantageScore. Sour

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Today’s top news headlines feature career advice to workers who have been diagnosed with a long-term illness and reasons many Americans are not celebrating the nation’s two-year ‘economic recovery’ anniversary. Plus, find out why many employers now consider the 40-hour work week part-time hours.

‘End Of Recession’ Anniversary Met With Little Enthusiasm The Associated Press Although the recession officially ended two years ago, many Americans continue to struggle with unemployment, underwater mortgages, foreclosure and insufficient income. Economists

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Personal information belonging to 34,000 investment clients of Morgan Stanley Smith Barney has been lost, and possibly stolen, in a data breach. According to two letters sent to clients, and obtained by Credit.com, the information includes clients’ names, addresses, account and tax identification numbers, the income earned on the investments in 2010, and—for some clients—Social Security numbers.

The data was saved on two CD-ROMs that were protected by passwords, according to the letters, but the CDs were not encrypted.

“There’s no evidence that there was any criminal intent here, or actual misuse of this information,” Jim Wiggins, a spokesman for Morgan Stanley Smith Barney, said in a phone interview.

The company mailed the CDs containing information about investors in tax-exempt funds and bonds to the New York State Department of Taxation and Finance. It appears

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A few days ago, a friend of mine received several letters dated June 24, 2011 from Morgan Stanley Smith Barney, where he has kept brokerage accounts for himself and his children for many years. It began with the now familiar, “we care about you” phrase:

“At Morgan Stanley Smith Barney, client satisfaction and information security are critical priorities.”

Then it segues into the sickeningly familiar, “but perhaps not enough” phrase:

“We are writing to inform you of a recent security incident involving the sensitive information of certain Morgan Stanley Smith Barney account holders. Morgan Stanle

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