Can someone help me with debt issue?

alexander · Apprentice Joined: 12 Apr 2007 Posts: 7

I was thinking that maybe I should try to repay my personal debt with my company’s money, since I have no other resources, and I believe that it would pay off for me more, than just waiting for interest to grow. However, I am not the only owner of that company, and I know that other owners would have nothing against it, but I must ask you how hard do you think it will be for me to repay it to the company? Is this a good idea?

fields · Apprentice Joined: 22 Sep 2007 Posts: 4

You’ll probably get the penalty, so you shouldn’t worry about interest, at the end it all comes to the same point. So, unless your company’s co-owners are not willing to give you that money as a present, I think that you shouldn’t do anything. At least try to repay your debt in the way that you have imagined at the beginning.