I've recently been laid off. Should I use my retirement accounts to pay off my outstanding debt?

I've recently been laid off. Should I use my retirement accounts to pay off my outstanding debt?
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#1

I have $28,728 in credit card debt and have been laid off. I have $38,819 in two retirement accounts. I’d like to use the accounts to pay off. I am 58 years old and have been laid off and would like to get rid of these expenses. However, I am concerned with a large tax bill since I am not retiring. I do have a fixed retirement plan


#2

If you are receiving unemployment, consider a Debt Management Program.
When you go through a Debt Management Program, the company can usually get a lower monthly payment for you, a lower interest rate, or sometimes both! They also are designed to get you out of debt in less than 5 years.
You can find a credit counseling company in your area by going to https://nfcc.org/locator/. Or you can contact me personally at www.consumercredit-dm.com. I would love to see if we can help you!


#3

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