Would it be a good idea to borrow against my 401K to pay off credit card debt?

Tips and Deals Forums Consumer Credit Improve Credit Would it be a good idea to borrow against my 401K to pay off credit card debt?

This topic contains 0 replies, has 1 voice, and was last updated by  Anonymous 5 years, 10 months ago.

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    Anonymous

    If I decide to do this would it help raise my credit rating? Also what is the best way to get your credit score to go up?
    There are no penalities to take a general purpose loan against my plan. It seems to me that it would be better to pay myself back the interest (8%) than pay the credit card companies.

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