debt consolidation or paying from incorporation which is better
Hi,
I have loans and locs total up to 80k . paying mostly only interests since last 3 years. I want to clear them off as the interest and monthly payment are almost same. I took secured loan on my house also and spend that amount too. now since i want to clear all those loans and locs which option is best.
1. Take money from incorporation pay them by 10 months. Here i have doubt about how it works with personal tax
2. Taking debt consolidation so i can keep extra money in incorporation.
I have loans and locs total up to 80k . paying mostly only interests since last 3 years. I want to clear them off as the interest and monthly payment are almost same. I took secured loan on my house also and spend that amount too. now since i want to clear all those loans and locs which option is best.
1. Take money from incorporation pay them by 10 months. Here i have doubt about how it works with personal tax
2. Taking debt consolidation so i can keep extra money in incorporation.