Hi Jaeden,
I believe it's better to pay off the due. But as you have very less money, you should better talk to the bank about your problem and get into a settlement with them. However, before you contact the bank, jot down your income and expenditure details. You may need to show that to the bank.
This is a much better option than avoiding them otherwise they can garnish your wage. Your paycheck won't be safe in any bank. It's always better to talk to the creditors about your problem because they will always try to co ordinate with the consumer in case of serious problems.
Best Of Luck.
Let me be clear. I'm aware of the 25% wage garnishment they can impose. I'm also aware that they can get legal action to levy my bank account.
However my understanding is that it's only legal for them to levy my account if it is THEIR bank account; an account I have with that particular bank.
My paycheck would be "safe" with another bank, although it would still be subject to wage garnishment.
Another reason I ask this is I have a large tax return due, and I want to use this to pay off other bills and debts. If I direct deposit it with my current bank, they will more than likely take all of it. I want to safeguard the tax return, by direct depositing it with ANOTHER bank.
Does this seem feasible?
Also, I know that "it's better to pay off the due", I think that goes without saying. It also goes without saying that this is contingent on further employment/income. And if there was any certainty in obtaining that, we wouldn't be in an economic depression, with the highest unemployment rate in decades. (Although unemployment statistics doesn't take into consideration people like myself, who only work part time and can't find full time/sufficient employment)