Angelica B asked:
My business is still in the growth stage but we have racked up debt close to $50000 that is sitting on my personal credit cards. Should I transfer that debt to a large credit line under my company name? Will that alleviate the stress on my personal credit debt? or will that not matter because it is still my corporation? Any assistance with this matter is appreciated. I only hope to clear these debts sooner than later..Thanks
My business is still in the growth stage but we have racked up debt close to $50000 that is sitting on my personal credit cards. Should I transfer that debt to a large credit line under my company name? Will that alleviate the stress on my personal credit debt? or will that not matter because it is still my corporation? Any assistance with this matter is appreciated. I only hope to clear these debts sooner than later..Thanks
#1 by D.M. - January 29th, 2010 at 11:09
Get the debt over to the company and away from your personal credit at once.
#2 by mariane - January 29th, 2010 at 22:21
The intricacies of the financial debts can be very complicated.
Seek the free of counseling debt consolidation services to see and hear your options and all the options available to you.
There are many debt consolidation programs open to you.So get professional financial advice first then decide.