Rabu, 23 November 2011

Would it be a bad idea to borrow from my 401k to settle a credit card debt?

by eyewash
Question by kcgirl: Would it be a bad idea to borrow from my 401k to settle a credit card debt?
I have one credit card left that i really want to pay off, I have about a $ 1000 balance that has been in collections for a while now. Unfortunately money is going to be really tight this year and like i said I really want to pay this off. It is my only card left, so I was wondering if it would be a bad idea to borrow $ 1000 from my 401k to pay it off and just deal with it next year

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