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Author: Blueyale One star, 50 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 308478  
Subject: Re: my bonus -- 401k v. CC debt Date: 12/13/1999 4:50 PM
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Hey Guine,

I have a proposal of what you can do but you'll need to decide for yourself. You could put your whole bonus in your 401K and get the tax dedudction and then take out a loan from your 401K to pay off your debt (which is EXORBITANT and something like a loan shark's terms). Their might be some fees associated with loan processing but you would have to go see someone in human resources and find out if the pension administrator will do this (they have a somewhat fiduciary responsibility to see that you spend on something wisely)

Cheers,

John
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