Posts tagged Credit Card Debt
Should I use money from my 403(b) account to pay off my credit card debt?

While the credit card company charging 16% interest is annoying, taking money from your 403(b) or any other retirement account to get rid of the debt may negatively impact you financially. Even though you can take the money out without the 10% penalty, you would still have to pay taxes on the money. You would likely lose money on the deal based on how the math works.

Read More
Will my husband's financial advisor be able to learn about my personal credit card debt when reviewing our finances and joint tax return?

No, your financial adviser will only have access to information approved and provided by you and your husband. This information may come out if you and your husband were to submit your credit reports to the adviser for. . . .

Read More
How should I get out of debt?

Other than the credit card debt, your other debt and your housing costs actually look quite good. If you can get the credit card debt paid off, you'll be doing very well financially. Your best bet is to make minimum payments on your student loans and your car loan and put everything you can . . . .

Read More
Do Credit Cards Charge Interest on New Purchases If One Is Paying Off a Balance?

When credit cards carry a (any) balance they charge interest on the entire amount, even purchases, on a daily basis. So there is a difference, because the client in scenario B would accrue interest daily on the purchases they made that month, while in scenario A they are only accruing interest . . . .

Read More