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Should I cash out 401K to pay off CC debt?
Should I cash out 401K to pay off CC debt? I’ve been unemployed for almost a year. I’m running low on cash. I’ve racked up ~40K in credit card debt (~14K of that is rent I put on the card). I’m moving back home and will not have to pay rent anymore. I can pay it all off if I cash out my 401K, but I’ll have no retirement savings. I’m afraid the interest is going to spiral out of control i...
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