You can always cash in a 401K. You will take a penalty if under age 59 1/2 and will also be taxed on what you take out. It is NEVER a good idea to take money out a 401K until you retire
Any way to cash in on a 401k to eliminate credit card debt?
What is the best way to eliminate credit card debt without having to pay a lot of interest if very little?
If you currently have a lot of money charged on your credit card and want to stop paying large amounts of interest the easiest option is to transfer the balance to another credit card with a 0% introductary rate on balance transfers with no balance transfer fee. Discover card has such a card, just visit their website and you can apply online. They don’t charge any fee to transfer the balance and they don’t charge you any interest for 12 months! Pretty good deal to eliminate your debt by making monthly payments and not paying any interest. In 12 months you could transfer the balance to another credit card that also charges no interest or balance transfer fees.
Dose debt resolution work?
Has anyone worked with debt resolution? Is it effective? Any suggestions in engaging a company for this type of service?
Most of them are scammers who will take your money and do nothing. The Wall Street Journal says to avoid them. Many lenders (American Express) will no longer deal wit a "resolution" company; you must deal with them yourself..