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Originally Posted by neatdesign
I agree. Getting a business loan of some kind probably would've been a better way to go.
How did your account get charged off if you only missed making one payment? ~ Jenney
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Absolutely I should have gotten a loan instead. My problem was that I had an Amex that had to be paid off at the end of the month for no interest. I did this successfully for a couple years. I misunderstood how the card worked. I thought if I couldn't pay the full amount they would just start charging me interest. The thing is they don't do that. They want you to pay the full amount off, so when one month went buy that I did not pay the full amount, they cut my card off, two months later. then sent me into collections for the remainder.
I definately should have gotten a buiz loan instead with a payment plan.
It's the only negative thing I have on my report, but it's killing me, luckily I have got my wife above 750 for our personal affairs, but I still want mine back up there.