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In response to
"
color of money chat q: he/she was laid off two years ago and has credit card debt at 18%. should they use their 401k/IRA to pay off the credit card?
"
by
cupixie
only as a last resort
Posted by
znufrii
Feb 3 '11, 10:07
the hit you would take on early withdrawl penalties and additional taxes would be substantial, possibly more than you'd save in interest.
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