Give the bank back money or buy a new phone and pay bank later?

Question

So I owe the bank $700 from 2018 when I was irresponsible and collected lots of overdraft fees 
My credit is 524, that being the only negative thing on my report 
However, my phone is a POS and it keeps shutting down, but I’ll have a chance to finally get money and I can pay back the bank and increase credit score or get a new reliable phone... maybe both idk if my bank will take small payments

Answer

You've been owing the bank for several years now. Pay them back before they take legal action against you.

Answer

You are really deciding between paying back a 5 year debt or a new phone?!? Really?? Be responsible and pay the debt off

Answer

Pay the bank. Start saving for a phone, buy a cheaper phone, or go through a provider that has a phone payment plan.

Answer

Pay back your debt. You can buy a new phone later

Answer

Can u buy the phone on payment plan. I personally would find a cheap good quality phone for 200$. No need to get a brand new iphone or something expensive

Answer

You already know the answer because I can tell you feel guilty about wanting to spend the cash on a new phone instead of paying back the bank. The responsible thing to do is pay off your debt. Think of it this way... Say you loaned a person $700 with the agreement that they'd pay you back as soon as possible, or at least make payments on repaying. Well 4 years go by and you still haven't been paid back. Only difference is this hurts you a lot more by waiting, because it's impacting your credit. Not paying will go into your report and lenders in the future will see how long it took you to pay off a small amount like $700. Making you not a good candidate for car or house loans.
Go to Walmart and buy a cheaper reliable phone. It may not be a top of the line, but they have plenty of nice ones for under $100.

Answer

Pay your bank back while you have the money. You don't know when you will again. You can always make payments on a phone for like $40/mo. Credit is very very important in life. You need to take care of it if you ever want nice things.

Answer

Coming from someone who was recently sued by a collection agency for 800 bucks. PAY THE DEBT BACK. Its not worth the headache.

Answer

Pay the bank back, and hold off until that hits your credit, once your credit is fair, you can apply for something called affirm through Walmart, and buy a phone and just make payments on it.

Answer

I’d pay the bank back and look around for a refurbished phone. Last couple I got were refurbished iPhones from AT&T, they work just as well as a new phone and sell for a LOT cheaper than a brand new phone. Last one I got was like $80, about $140 LESS than it would be new. Battery is fine, handles social media and games perfectly.

Give the bank back money or buy a new phone and pay bank later?

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