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Personal Finances / Credit Cards and Consumer Debt


Subject:  Debt consolidation Date:  2/24/1998  10:35 AM
Author:  Elliot4567 Number:  736 of 312293

There's been much said about debt consolidation, but no real "best" option. I've got $26,000 in credit card debt that I want to consolidate. Is the best option a home equity loan (I only have $12k in equity) or to borrow from a 401k ($22k available) that I rolled over to other accounts when I changed jobs 13 months ago? What are the rules about borrowing your own (former) 401K funds now invested in other areas?
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