whatever you do, dont listen to this person. Maxing out credit cards on the off chance that you could "negotiate" a lower payment with a credit card company is nonsensical. Not to mention what it would do to your credit worthiness if it gets to that point. There are no guarantees with this approach.
On your initial question, I'd say dont do it. Save up capital and try to start a business using the correct tools such as business debt (assuming you need or want to use debt for the initial capital, some people would say no debt ever).
toorbowski t1_iycqehb wrote
Reply to comment by barrycarter in Is this a Good or Bad Move? by HerculesDeus
whatever you do, dont listen to this person. Maxing out credit cards on the off chance that you could "negotiate" a lower payment with a credit card company is nonsensical. Not to mention what it would do to your credit worthiness if it gets to that point. There are no guarantees with this approach.
On your initial question, I'd say dont do it. Save up capital and try to start a business using the correct tools such as business debt (assuming you need or want to use debt for the initial capital, some people would say no debt ever).