Credit Card Debt: Best Options for a Listener
Update: 2025-11-10
Description
Facing a mountain of credit card debt due to unexpected expenses and a pay cut, our listener is considering a 401k loan. We explore three options: paying off the card directly, taking a 401k loan, or a personal loan. While a 401k loan may seem appealing, it comes with risks and potential penalties. A personal loan, with a lower interest rate, appears to be the better choice. Focus on high-interest debt, seek professional help, and consider support groups for financial struggles.
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