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Can I use a personal credit card debt consolidation loan to consolidate business credit card debt?

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vantageman
Established Member

Can I use a personal credit card debt consolidation loan to consolidate business credit card debt?

Can I use a personal credit card debt consolidation loan to consolidate business credit card debt?



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Anonymous
Not applicable

Re: Can I use a personal credit card debt consolidation loan to consolidate business credit card deb

If the business card is in your name, sure.

 

But if you have any type of corporate shield that you want to limit liability,

then you could lose some personal protection possibly.

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SouthJamaica
Mega Contributor

Re: Can I use a personal credit card debt consolidation loan to consolidate business credit card deb


@Anonymous wrote:

If the business card is in your name, sure.

 

But if you have any type of corporate shield that you want to limit liability,

then you could lose some personal protection possibly.


If I were you I would try to keep personal and business totally separate.

 

A way to do that might be to take out a personal loan, and then pay the proceeds to your company as either a capital investment in your company or as a loan to your company.

 

 


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