It's been a tough road so far repairing my credit. Is there a safe place to keep my money while I repair my credit? Banks, stored value card, etc? Thanks...
Do a search for a post I put here last summer entitled "Making Yourself Judgement proof". The short story is that there are many cyber banks that you can use. I have been doing it successfully for quite a while. Bill Collectors will look in banks near where you live and work. Many banks will open accounts for you, even though the bank may be far away from where you live. Money can be transferred electronically. Here's an example. I live in Tucson AZ. I keep $50 in Wells Fargo here so I can get cash when I need it. My principal bank is US Bank in St Paul MN. I have several thousand dollars there taht some bill collectors would just LOVE to get their hands on. I move money back and forth free by using paypal, by uploading funds from USB to Paypal, then downloading to Wells fargo. Paypal e-mails me when the transaction is complete and I withdraw. Is this a little bit more complicated than keeping my money in the bank on the corner? Yes, but what the bill collector can't find the bill collector can't take.
