Q: ABS light on and Error 55 code , and clunking when turning wheel 2006 Subaru Legacy

Hello the "Error 55" usually indicates a failed wheel speed sensor (or dirt or corrosion preventing one of them from reading correctly). This failure is probably what is turning on your ABS warning, and prevents cruise control from working (intentional). Check your wheel speed sensors. The clunking noise on low-speed turning is likely the outer CV joint on the front-left axle. I recommend a noise inspection performed by a mobile, professional mechanic, such as one from YourMechanic, who will come to your location, confirm this diagnosis, and give you an accurate assessment of damage and cost estimate for repairs.