Borrowing is a good bankruptcy alternative - here's how to do it, even if you have bad credit
We all know that borrowing is a good bankruptcy alternative, but what if you don't qualify for a loan? If you have less than perfect credit, and on your own you don't qualify for a debt consolidation loan, consider "borrowing" someone else's credit history.
No, we are NOT recommending identity theft, since that will land you in jail. However, a co-signer with good credit may be just what you need to qualify for a loan.
Ask your family members, such as your parents, or any other friend or relative with good credit to co-sign a loan for you. You can even ask them to give you a supplementary card on their account. By having a joint account with them, your credit report will reflect the credit history of that card with that borrower, and can help you to establish a good credit history.
But beware: if you have a joint debt with someone, and you don't make your share of the payments, that person becomes fully liable for the entire debt. This is a very serious problem, so only ask someone to help you if you are sure that you can make all required payments.
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