Tag Archives: borrow from retirement

Hank is on Disability And Wants to Borrow From His Retirement Plan to Pay Off Credit Card Debts

“Dear Steve, I am on disability retirement. My income is about $3,200 monthly. I currently have about $40,000 in credit card debt, excluding a mortgage (which is upside down). I am $1,100 in the hole every month and desperately need help! I have asked my wife to take out a $20,000 loan from her retirement [...]