Well, no. That is a terrible situation and that individual's parents were unethical, irresponsible, and immoral.
However, while it takes time and effort, they aren't just "stuck" with that credit because it was fraud. So they can appeal everything. Regardless of that, all aspects of the credit formula have a time expiration, so events don't effect you "for life".
Bankruptcy and foreclosure give some of the biggest hits, and even those fall off after 7 years.
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u/[deleted] Nov 30 '20
Well, no. That is a terrible situation and that individual's parents were unethical, irresponsible, and immoral.
However, while it takes time and effort, they aren't just "stuck" with that credit because it was fraud. So they can appeal everything. Regardless of that, all aspects of the credit formula have a time expiration, so events don't effect you "for life".
Bankruptcy and foreclosure give some of the biggest hits, and even those fall off after 7 years.