My mom opened a credit card in my name with my permission but she's run up a balance of $40K. How will this impact me?

Imagine the case of Bryce, who agreed to let his mother open a credit card in his name. It didn’t feel risky at the time. She needed help rebuilding her credit after a divorce, and he trusted her. The plan was simple: she’d use the card sparingly, pay it off each month and close it once she got back on her feet. Fast-forward a few years and that card now carries a $40,000 balance, and his mom is struggling to keep up with payments. Must Read Even though Bryce didn’t spend the money, his name is on the ...