As you have stated, the option of pressing formal charges against your husband is a sticky one now because you are back together. If your husband were convicted, which it is highly likely he would be in this situation, he might be fined and/or be ordered to serve time, probation, or community service hours. However, you may have no choice but to press charges against him to prove the seriousness of your claim to the affected creditors. You will need to decide which is worth more--protecting your husband or clearing your credit of fraudulent debt.

To find out what truly applies to your situation in your state, you can contact the fraud division of your local police department.

In the meantime, you may want to instruct the credit bureaus to put a fraud alert in your credit file. This will help to keep anyone, including your husband, from opening new accounts without your knowledge by requiring that you be phoned at home for permission. No one else can approve such account openings but you. Although you will not be able to obtain "instant credit" at a store, no one else will be able to get such credit in your name either-not even your husband.

You may also want to contact the creditors on each of the fraudulent accounts to explain what has gone on in the past and the steps you are now taking to correct the situation. You may, at the creditor's discretion, be able to have some of the debts moved to your husband's name alone, which might at least improve the appearance of the debt load.