Pay My Bank Debt Or Get a GreenDotCard? - Please Advice

4 replies
Ok heres my thing,

I basically went bankrupt, no big deal for me.

But I still have a checking account with commerce bank in which I owe a balance of $956. ( I don't necessarily have to pay it off).

My question is...

Since, I've managed to make $1,000 this month ( thanks to IM ) .. I was wondering If I should either pay that balance off I owe...

Or

Get a Green Dot Card.. which they also have checking account services... etc..

I feel like I can use this money to expand my Internet Marketing journey...

Please .. your suggestions would be much appreciated it.
#advice #bank #debt #give #greendotcard #guys #pay
  • Profile picture of the author keadams26
    If you are still tight on cash, get a green dot card until you can begin paying down your bank debt. No need to start from zero again. The debt isn't going anywhere and the bank will not close if you don't satisfy the debt asap. However, if you want to operate a legit online business, you do need to work on cleaning up your credit, and getting a "real" bank account.
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  • Profile picture of the author aandersen
    do you have money to live off of? this is the real question. if you can survive without the money i would say pay the bank off.

    could you repeat that 1k again next month? if so i would pay the bank back

    1 month is not a very long time when you look at the how long a successful business will last you. having a bank account is an important assent to most business owners.

    if you need the money to live on or need the money to keep making money, it would not make sense to give up all your funds. maybe decide how much you can part with and give that to the bank

    what i would not do is assume that investing the 1k is going to double your income (or similar) because things do not always work out how you plan. you could make a mistake and loose your money. in that case it would have been better off paid towards the bank.

    i lived without a bank account for a couple of years. my advise would be not to put it off any longer than you need to. it can get expensive to cash checks all the time
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    • Profile picture of the author jpaissa27
      Guys,

      I appreciate it...

      Now I know what to do..

      Thanks a whole bunch
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  • Profile picture of the author keadams26
    aandersen said it exactly the way I meant it too. Don't put yourself off but getting the bank straightened out is essential in terms of your long-term success.
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