Want this question answered?
A business credit card debt can affect someone's personal credit card rating. A credit report for an individual is processed by activity of one's overall credit. This means that having debt for a business credit card can hurt a person's chances of receiving lower interest for a home finance loan.
There are a number of options available for business credit card debt consolidation. Some of the top rated options are National Debt Relief, DebtWave Credit Counselling and Premier Debt Help.
If the credit card is drawn against the business, that is if it is a business account, then yes. If the card is a personal card, then his estate is responsible for payment of any outstanding debt. Since the business is part of his estate, if in probate it is determined that the business owes the debt, then yes, you or rather the business is responsible.
Many credit card companies will require that the credit card be guaranteed by the business owner. This means that the credit card would show up on the business owner’s credit report. This might pose a problem if you get into substantial debt.
it depends on whether they sold their portfolio of debt
Credit card debt statistics for Canada can be found in the business section of local and national Canadian newspapers. Also, Canadian business and finance magazines are good sources for this information.
There are many credit card debt management services available. Some of the following have an A plus rating with the Better Business Bureau: Consolidated Credit Services and Step Change Credit Services.
A prepaid credit card can be a good option for a small business as it can prevent falling into debt as the money is paid up front. It can come in handy for transactions that require a credit card and for those who have been decline for a credit card due to poor credit.
The diffference between a debt card and a credit card is ,in a debt card it's money from your account .In a credit card is when you borrow money from the bank.
I am so in debt and I am worried about paying my credit cards. Where can I get advice on credit card debt solutions?
There were no credit cards in 1900, hence no credit card debt.
A person is in credit card debt when they have charges on their credit card and can not pay them. A person can make charges on a credit card and make payments at a later date. When a person charges on their credit card, the charge is now a debt that must be paid.