Yeah I tried taking over a company years back and it went under. I took it over at like -250k in the whole and got it back down to like -10/20k in the whole and couldnt get a loan. The whole time all of my money was going into the company to bring it out of debt and I wasnt paying any personal bills. Lost everything besides my car which was 6 months past due. The bank for some reason didnt start getting pissed until the like 4/5th month, weird huh? I am still feeling the effects of the loss, my credit score is like 425 and I still have old phones/electric bills/cable bills yada yada in collections from that.
It was never a lazy non work factor that ruined my credit. I cant say that it wasnt a mistake but I would do it again in a heartbeat to have that chance to make millions.
Dude. You should write a pamphlet called How Not To Fix Other Peoples' Mistakes.