Authorized User

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  • #71884
    jkp2020
    Participant

    Can I be added as an authorized user on mother’s account during this time, or would it be considered a new debt?

    #71896
    Damien Smith
    Participant

    Greetings @jkp2020,

    I hope this message finds you well! Being added as an authorized user can be positive or negative. On the positive side everything that they do good benefits your file conversely everything that they do negatively can affect your credit such as late payments, credit utilization and that is something you would like to be very careful about and speak with your mortgage counselor who will have access to look at your over picture and advise you best as what things you need to work on as you can also ask them their thoughts on your question above. I would not do anything like that until I first meet with my MC to get your plan of action. I hope this helps!

    Damien Smith
    Online Communications, NACA

    #71900
    jkp2020
    Participant

    Thank you @damiensmith! I know the effects of being an authorized user can hold. My question is… this will appear on my credit, but would this be considered a new debt for me even though it’s not my bill?

    #71915
    Damien Smith
    Participant

    Understand, that new debt would be included in your debt to income ration. I hope this helps!

    Damien Smith
    Online Communications, NACA

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