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Amanda Miller

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  • I have tried all the above, except borrowing against my 401k. In that case, I cashed it out completely thinking that I could replace it within 30 days to avoid the penalty. I have yet to do that, or pay any of the other loans stated above. I had a commission job PLUS two more salaried jobs. All did not come thru for me in this market.
    I would recommend seeing a bankruptcy lawyer first, or a legitimate financial accountant who specializes in setting you on the right track. If there is a moment that you need to borrow to breathe, that is a breath too late.
    In my case, if I had used the money I had to seek advice rather than borrow more to “stay afloat” which incidentally only multiplied the debt immensely.
    Of course, I am speaking from experience and a bad one at that.
    Good luck and Kudos to all who have the courage to carry on amidst this what I consider for myself a crisis.

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