Ask Terry Questions Credit card Debt

Credit card Debt

By Terry Savage on October 22, 2023 | Credit/Debt

We have over $50,000 in credit card debt and we have over $90,000 in a 401k. Should we take the money out of the 401k to pay off the debt?

Terry Says

No, no, no! Immediately contact the nonprofit National Foundation for Credit Counseling for advice you can trust.
800-388-2227 will connect you to your nearest local office.

Your retirement account is protected from creditors. Keep it that way,
Please write back and let me know about their advice.



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