Can I be forced to use a credit card to make a lease payment?
In my small business I have an equipment lease that I am 2 months behind on. The lease company ran my credit report and saw that I have a credit card with enough credit available to make a payment to them. It took me a long time to bring that card back from maxed-out, and I did it by paying what little I could (just over the minimum) and not making any more purchases with it. Can the lease company force me to go deeper into debt on the credit card in order to give them a payment? The lease payment is approx $1600 and I had been paying 100-150 into the cc account about 2-3 times each month. At 24.9% on the cc, you can guess how long it took me to get the balance down. I still owe 4800 on it. Working another 1600 off the balance again will take forever.