Hi All,
I have a question regarding my mom who is retiring. My mom filed Bankruptcy 2 years ago and and her house is in foreclosure. She is moving in with me because she had so many medical bills from her cancer treatments. To start over and rebuild her credit I know the first steps are to get a secured credit card. My credit is also in rebuild mode. I have 3 unsecured cards and my mom is good with paying her bills should I add her as a user to my Capital one card to help her show some credit? Will it hurt my credit with the foreclosure? Or should she opt for a traditional deposit for a secured credit card. She really doesnt need it for expenses but to improve her credit profile if she needs it. Thanks all for the advice in advance!!
First I would check out this thread: http://ficoforums.myfico.com/t5/Bankruptcy/HOW-TO-From-BK7-discharge-to-700-in-24-months-or-less/td-...
That will answer a lot of questions that you have. The forclosure will not hurt you because it is not yours. Adding her as an AU won't hurt as long as your util is in check. I would have her first apply for an unsecured Cap1 card. If she is unable to get unsecured credit, then she can open a secured card. No reason to limit her potential from the get go 
If you have any other questions feel free to ask. Hope your mom is doing well, cancer is not easy for anyone.
Thanks she is going well I just want her to enjoy life the house www a huge money pit and a 4 bedroom house for my mom was too much I would have helped but I had to get out of an abusive relationship with my kids alive and I'm grateful everyday the kids love her and life is short. I tried the capital prequalify but nothing came up so I stopped there didn't want to do a hard inquiry
Ok I will give it a whirl for her she had not used her Walmart for over 2 years and still thought it was open. She should have a better chance than me because she once had a house and I didn't
Well she got the 7-10 day letter so I may just have to add her not sure which one to add her to whether it's the cap 1 with the higher cl or usaa I rarely yse
@EW800 wrote:I have no experience in the BK recovery area, however just want to let you know how sorry I am that your mom is going through the medical and residual financial issues. It is wonderful that you are there fore her and supporting her!
Best wishes. Thoughts and prayers are with each of you.
thanks for the warm wishes and prayers. You have no idea how much cancer treatments can be its crazy the amount of bill with insurance. As long as she is healthy that is all that matters. I think the AU is the route to go at this point.