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I have accrued a personal debt of 60k for my business- mistake!! I am self employed and cannot pay the monthly minimums due to some temporary changes in my business revenue. My debt is with AM ex, boa and chase. How do I transfer this debt to my business when my credit is quickly tanking from 750 to 680?




I believe if the debt is in your name (on the card or loan) then you are personally liable for it. The only way I think you can get this transferred into your business is to apply for business credit and payoff the debt under your personal name.

Even then, I am not sure if that would really work because until a business establishes a credit history, many banks require the business credit to be backed by a prinicpal of the company.

Perhaps others on this board will have other replys.

Good luck to you.

Sub: #1 posted on Thu, 07/17/2008 - 01:26

desperatelyseekingsanity desperatelyseekingsanity

(Posts: 1129 | Credits: 58.41)

Hi, i am Ms Jool, i saw your ad on this webiste site seeking for a loan, i once blahblahblah. Spam content deleted.--Morningstar

Sub: #2 posted on Fri, 07/18/2008 - 19:36

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cellinmillan90 is a scam

Sub: #3 posted on Fri, 07/18/2008 - 19:39

mobile0311 mobile0311
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