Ask Terry Questions Withdrawl at 62yrs. old from retirement funds to pay credit card debt?

Withdrawl at 62yrs. old from retirement funds to pay credit card debt?

By Terry Savage on March 29, 2015 | Credit/Debt

We got ourselves into a financial bind in which a credit card company put a lien on our townhouse. Can my husband who is still working take a withdrawl on his retirement? He is 62yrs old.

Terry Says:  Don’t do it.  Call the National Foundation for Credit Counseling at 800-388-2227.  Your retirement plan is not subject to lien for a credit card issue.  Let them help you work it out — and keep your money growing for retirement.

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