Business credit card charge off - what are my options?

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I have a business credit card that will charge off soon and I can’t do anything about it. What can I do to protect what little income I have from being taken by the creditor? Can they just confiscate everything I own when it’s a business card? I still need to have operating cash to keep a roof over my head. I know a business card is different than a personal card, but I don’t know what my legal rights are at this point.
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Tuesday, November 25th, 2008 at 8:20 am. Posted in Business Credit Card. Tags: , , , , . You can follow this web articles through the RSS 2.0 feed.

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2 Responses to “Business credit card charge off - what are my options?”

  1. enigmatic_metamorphosis on November 28th, 2008 at 1:41 am

    They can’t take anything without going to court. Talk to your local chamber of commerce or small business association (sba.org) to get some free mentoring and help.

  2. I dont know much about this, but i would see if you can settle with the lender for a lower price than what is owed.

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