Posted in debt, refinance, credit relief by admin
on September 9, 2011
When does it make sense to borrow funds out of IRA/401k to pay down credit card debt, if ever?
What are rules regarding borrowing funds? How much can you pull out? How soon do you have to pay back? What are the costs?
First of all it never makes sense to borrow money from your 401K (stealing from your retirement). Whether you can do so is dependent on the rules of your plan.
“Should I pay down credit card debt with money from my 401k?” | MintAnswers
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