Actually, I don't think I would worry to much about it.
They say that I am in contract to pay for everything. They have my credit card and that's it. What can happen if the credit card on file is invalid?
It happens and can be disputed. Call you credit card company or credit agencies.
They die
Well, unfortunately it is going to drop and be listed for about 4 years I believe.
You do not have to necessarily get credit counseling before you can file for bankruptcy.
The debt is given to your closest relatives
you die!
It will have no affect on the mortgage as long as the lending terms are met by the primary borrower.
Credit rating plummets when filing for bankruptcy. Bankruptcy should be the last resort and one should try everything to not go bankrupt - keep saving as much as possible.
Credit monitoring is the automated process of keeping an eye on your credit. Credit monitoring helps protect you against identity theft and monitors any changes and/or inquiries made to your credit file by alerting you within approximately 24 hours of any major changes made to your credit file.
You can file a credit check from your credit card company or you can file it through the government tax agency. www.consumer.ftc.gov/articles/0155-free-credit-reports gives more details about credit check.
You will have to file a corporation, or LLC. Apply for a credit card with that particular EIN, and go from there. This is generally different than your personal.