Harry Gross | Name showed up in the wrong place

Dear Harry: I received an advertisement from one of the nation's "scandal-sheets" which was set up with a facsimile of the sheet with my name in a big headline shown as a "loyal reader." Harry, this was not in an envelope, but was there for everyone to see. I don't know how many others saw my name in that ad. How dare they use my name in such a way totally without permission!? What I choose to read is nobody's business. I would like to bring some kind of charges against them. My reputation could be severely hurt by this.

What Harry says: I think you're unnecessarily upset by this ad. From the copy you sent me, it appears that this was a "personalized" ad that came to you alone. Other prospects received similar ads with their own names in that headline. The fact that your name was visible could be a problem. However, were you really hurt economically or even socially? Did anyone other than the post-office people see it? My vote is to forget about it, but you can see a lawyer if you're still in a stew.

Dear Harry: Last summer, my wife and I were awarded a judgment by a court for $10,000. However, we soon discovered that the company had filed for Chapter 7 in bankruptcy. We contacted the law firm that represented the company, and they told us that we were not among creditors listed. They advised us that we still had a right to our claim. Nobody seems to know what happened to the original owners of the company. It was a corporation, and there's no longer a place of business. Is there any hope for us to get our money?

What Harry says: Hope? Absolutely. However, if there are few assets, you may come up with very little, if anything. Since it was a corporation, it's extremely doubtful if you can hold the old owners personally. However, do file your claim with the Bankruptcy Court. Don't delay!

Dear Harry: I am presently incarcerated for a minor offense (180 days). My former employer owes me two pay checks which I'm having trouble getting. My family has contacted them several times, and my counselor here at the prison called once without getting any action. They all get the royal runaround. I don't know how to get my money, which my family needs for food and rent. This has been going on for months. Please tell me what to do.

What Harry says: I have a deep hatred for people who take advantage of those who are unable to help themselves. Have someone in your family contact your city councilman who can then contact the district attorney's office, if necessary. It may even be wise to swear out a warrant for the arrest of the toad in charge. Just a phone call from the D.A.'s office should be enough to get them off square one. Good luck!

Dear Harry: This morning, I saw a new way for someone to steal your identity. I was in a convenience store waiting to pay my bill when a customer reported that a guy with a fancy cell phone was photographing the PINs that people were putting onto their ATM. The store manager, who was a huge man, approached the guy and asked what he was doing. The guy never answered, but took off like a shot. He got away. I thought you'd be interested in this latest use for a fancy cell phone.

What Harry says: Wow! Just having a pin number won't get someone access to your account. However, if a thief already has other info about you, it could be the final piece he needs to gobble up much of your money. For all our readers, be vigilant every time you use your PIN. Block the line of sight with your body, your purse, your newspaper, or some other object. Always be conscious of the possibility that a cell phone is very often a camera, too. This is the Law of Unintended Consequences in action.

Dear Harry: I am attaching the last monthly statement from my mother's mortgage company. She took out this home equity loan about five years ago. She never realized that almost all of her monthly payment went toward the interest and almost nothing to the principal. She's now 86 and living on very little. Can she refinance at her age?

What Harry says: The mortgage statement shows that there are 273 payments left of $283.44 per month. The real kicker is that monstrous interest rate of 10.91 percent. If her home is worth at least $36,000, she can refinance the balance due of $28,600 at a rate of about 6 percent for 20 years. That would give her a monthly payment of only $205. At her age, the $78 monthly saving can go a long way. If her home is worth substantially more than $36,000, it's possible that she can get a reverse mortgage that will eliminate her current payments entirely and give her a few bucks extra each month. The mortgagee will get its money back when the home is ultimately sold.

Dear Harry: I am enclosing a copy of my Social Security statement which shows my lifetime earnings and a projection of my benefits. You'll notice that I took off almost 30 years to raise our children. I will be 62 shortly, and I'm considering applying early for my SS.

I am told by one of my co-workers that I can get my SS and continue my part-time job, where I make a little more than the new minimum wage. Is this so? My health is only fair since I'm a diabetic and have severe arthritis. My husband has been collecting his SS ($1,345) for about a year. His health is only fair. If I retire at 62, my benefits are projected to be $251 a month. At 66, they project $386. Should I take it now or wait?

What Harry says: You can work and collect your SS at the same time since you have very low earnings. If you take the SS now, you'll be ahead of waiting until you're 66, because your SS will be based on your husband's since it will be larger than either the $251 or $386. Normally, that would be half of his benefit.

However, you'll be retiring early, so you can expect about $500. Your SS office can give you more precise figures. *

Write Harry Gross c/o the Daily News, Box 7788, Philadelphia, PA 19101. Harry urges all his readers to give blood - contact the American Red Cross at 800-GIVE LIFE.