No. of Recommendations: 0

I have $ 4,531.00 credit card debt on two separate cards (one with 9.90% int. and the other has 1.9% intro rate until November and 13% thereafter and the amount is pretty much evenly divded between two cards. Also $ 3,000 of that amount is medical realated charge, but it is cc debt now.)

I have about $ 2,500 in my savings account and $ 2,000 in stocks (which so far I lost about 20% of my initial investment on).

I was thinking cash out my savings and stocks to payoff the cc debt, but I like to have some money in my savings account although it is not very much. I have 401k account that I can take a loan from. Should I go that route? Or should I make fixed payment every month to pay those off in about a year and half?


Print the post  


UGC Disclosure Notice Regarding Credit Card Posts
Community board discussions about credit cards are not provided or commissioned by banks who may have advertising relationships with The Motley Fool. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered.
TMF Credit Center
The Motley Fool Credit Center arms you with real tools and simple messages, that will help you in every credit situation.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.