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Q: My mother declared bankruptcy one year ago and has since had no outstanding debts. However, she needs to build her credit and thought it best to add me as an authorized user on one of her credit cards. I have a good credit score in the mid-700s but I am afraid that her past bankruptcy, as the primary user, would hurt my credit score. I understand the risk of being an authorized user if she ...
The misfortunes that brought schoolteachers Devin and Sarah Stang and their four young children to bankruptcy -- and the loss of their house and a car in the process -- were their own unique story.
And the one debt he doesn't mind.
Bankruptcy can negatively impact every aspect of your life, but it has a particularly terrible effect on your credit score. A declaration of bankruptcy can sink your credit rating by as much as 220 points for seven years or more.
If you don't qualify for the best on the market, don't settle for the worst, which come with big upfront fees.
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