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    sawdavid's Avatar
    sawdavid Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Jan 21, 2009, 12:06 PM
    401K withdrawal to satisfy unpaid credit card debt
    Illness in the family over the last two years temporarily reduced income. Although incomes have risen again, credit card debt has become unmanageable. Would it be advantageous to withdraw 401K monies, which have declined in value approx 20%, and satisfy this debt.
    loopy123's Avatar
    loopy123 Posts: 63, Reputation: 2
    Junior Member
    		  
    #2

    Jan 27, 2009, 06:13 PM
    If you think that borrowing more money is going to help you, you had better be able to swim to stay away from the sharks.:rolleyes:
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