Recently I’ve read an interesting article covering the subject of using 401K to pay credit card debts. Personally, my own view here is to avoid getting it as much as possible. Retirement is a very sensitive stage of our life, there is no second chance in securing good financial status once we are already old and weak. So as much as possible, saving for our 401K must be taken seriously.
But if there is no more way out of your debt and 401K is the only solution you can see, don’t forget to seek out the advice of the experts first. Some debt relief companies offer free debt consolidation and also credit card debt consolidation to help debtor device a workable scheme to pay their debt.