Will working with National Debt Relief to pay off my credit card debt hurt my personal business credit or account?
Date: Thu, 02/09/2017 - 07:33
Last year, I started a business with a partner, which is where a portion of my debt was dedicated. I am worried that if I use National Debt Relief and allow my accounts to go into collections, and destroy my personal credit, that my business credit cards will be revoked, and my business credit will go down the drain with mine. I can't afford to lose any of my business accounts or hurt my business credit, as we are finally starting to grow as a small business.
My question is simple: Will using National Debt Relief to consolidate my personal debt negatively affect my business accounts in any way, or are they completely separate?
Your creditworthiness will be
Your creditworthiness will be questioned if you're not able to manage your personal finances responsibly. So, your business creditors might offer you loans at higher interest rates or not approve your loan request. However, at first, repay debt and then try to have positive items on your credit report. By doing so, you'll be able to prove your creditworthiness to your future creditors and lenders.
First, whether you work with
First, whether you work with NDR or not, it's your decision. Second, your current financial situation isn't conducive for fresh loans. If you continue adding piles of debt to your existing one, it's likely you'll go bankrupt. And with you, your business partner will also suffer.
Lastly, stop incurring any more debts and work out a debt repayment plan with anyone you feel like and pay off your debts as soon as possible.
The ball is in your court: Business credit or Debt relief.
