Bank Account

by Michelle
(N.O.)

I owe $97.00 at chase bank, and I want to open an account at Capital One to pay the money back. will I be able to open the other account?

Comments for Bank Account

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Dec 23, 2011
Bank Account
by: Debtcollectionanswers

I don't really understand what you are asking. If you are talking about opening a new bank account then if you have the money to open the new account, why not use those funds to take care of what you owe to Chase?

If you are talking about getting a Capital One credit card and accessing funds from that card to pay what you owe to Chase, then whether or not you will be approved for a card will depend on the information in your credit report and how Capital One evaluates that information.

I am concerned however that if you are having problems paying a $97 dollar debt that your finances are not in good shape. Getting new credit is not the way to improve them and in fact could make them worse.

If you are struggling to keep up with your financial obligations, there are other options to consider that would be better for you: work with a nonprofit credit counseling organization to set up a budget and a debt management plan; make more money; try to settle your debts, which involves paying them in full for less than what you owe on them; and even file for bankruptcy. If you want to learn more about debt settlement, listen to my podcast on the topic, debt settlement podcast. And if you would like to find out if bankruptcy is right for you go here, a free consultation with a bankruptcy attorney.


Dec 24, 2011
bank account
by: Anonymous

if two people have a joint bank account but are not married, can a lien be placed against the account in one persons name, that was sued.

Reply from DebtCollectionAnswers.com:

Yes, there is that risk. We don't recommend you hold a joint bank account with someone who is delinquent on their debts.

Jan 28, 2014
interest on car loans
by: Anonymous

If I have a 5 yrs car loan and pay off early can they still make me pay interest as if I am carrying the loan out for the 5 yr term?

Reply from DebtCollectionAnswers.com:

Most car loans are simple interest amortized loans so you can prepay them and avoid some of the interest. But you'll have to check your contract to find out if that's the case with yours.

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