A woman in New Jersey helped her daughter buy a car. The woman is the borrower on the car loan, and the daughter is a guarantor of the loan. The woman is now going to file for bankruptcy. How will the bankruptcy affect the daughter's credit?
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A woman in New Jersey helped her daughter buy a car. The woman is the borrower on the car loan, and the daughter is a guarantor of the loan. The woman is now going to file for bankruptcy. How will the bankruptcy affect the daughter's credit?
If the daughter continues to make payments, the impact on her credit should be minimal -- the credit reports have changed their systems in the past ten years so that they can reflect the debt as current on the non-bankrupt person's credit report.