Jessica, a caller from Columbia, South Carolina, said she discovered at 18 that her mother had used her identity since she was two.
She told "The Ramsey Show," she learned this when she tried to buy a car and lenders rejected her, which led to the discovery of $186,000 in credit card debt. From there, hosts Ken Coleman and Rachel Cruze helped her sort through what she needed to do next.
Years Of Fraud And A Difficult Reset
Jessica said the identity theft went "all the way back to 2005," with the most recent account added in 2021.
Don't Miss:
- Missed Nvidia and Tesla? RAD Intel Could Be the Next AI Powerhouse — Just $0.85 a Share
- Americans With a Financial Plan Can 4X Their Wealth — Get Your Personalized Plan from a CFP Pro
She said an attorney helped wipe the fraudulent history, but the reset left her with no credit record, and lenders still declined her applications. She also said some financial advisors suggested marriage as a workaround, which Coleman questioned.
She added that she and her partner shared one car after moving from Florida to South Carolina for family and better job prospects. She earned $18 to $19 an hour as a debt collector, and with that income, Coleman said a used car paid for in cash could help her move ahead without relying on lenders.
Building A Budget And Regaining Stability
"Let's get some money saved. Let's get on a budget and let's buy a car," Coleman said as he outlined her first steps.
Trending: $100k+ in investable assets? Match with a fiduciary advisor for free to learn how you can maximize your retirement and save on taxes – no cost, no obligation.
In response, Cruze told Jessica she was structuring decisions around credit instead of her actual needs and said a score mainly reflects borrowing. Jessica said she had no consumer debt but used her savings during the move from Florida because jobs there "weren't any good."
With that in mind, Cruze encouraged her to keep expenses focused on essentials such as food, shelter, utilities, and transportation so she could build savings. Her income, Cruze said, gave her room to begin stabilizing her situation.
A Path Back To School And Long-Term Progress
As the conversation continued, Jessica said she had one semester left to complete her associate degree but could not access grants or loans because the identity theft affected her tax forms.
See Also: An EA Co-Founder Shapes This VC Backed Marketplace—Now You Can Invest in Gaming's Next Big Platform
Cruze then told her that callers often boosted their income through evening or weekend work and said many earned "an extra $1,000 or $1,200" beyond regular pay.
Jessica said her family always emphasized maintaining "great credit," and she still felt pressure to rebuild it despite the wiped history. In response, Cruze told her to "pay cash for anything" and said she could show a police report if a company pulled her credit.
She also advised Jessica to keep finances separate from her boyfriend as she worked toward buying a car, funding tuition, and completing her degree.
Read Next: Earn While You Scroll: The Deloitte-Ranked #1 Software Company Growing 32,481% Is Opening Its $0.50/Share Round to Accredited Investors.
Image: Shutterstock
© 2025 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
