Borrowing In the Future · Selling Online / Prime Mover

Borrowing In the Future

Unless planning on borrowing in the near future I wouldn't worry too much about that. I paid a car loan off and credit car and my credit rating plummeted for paying stuff in cash First thing I would do is speak with mortgage lender to see what breathing room could be offered such as maybe switching to an interest only repayment temporarily so monthly payments are lower until get back on your feet but note this only repay interest not the balance. Alternatively repayment holiday. Depends on your circumstances and what options you have. Moral of the story don't leave the regular pay cheque until the business is making the same.

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