Saturday, November 28, 2009

Second Mortgage On My House To Pay Off My Credit Cards?

November 28, 2009

Taking a second mortgage out on your house to pay off credit card debt is a bad idea in most cases.  In the event you need to file bankruptcy, credit card debt can be wiped out if necessary.  Even in a Chapter 13 plan where you are paying back all of your debt, the interest rate [...]

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Borrow Against My 401K To Pay Off My Credit Card Debt or Medical Debt?

November 28, 2009

Borrowing against your 401k is a terrible idea.  With Georgia Bankruptcy Exemptions, your 401k most likely will be 100 percent protected from your creditors. One of the most common mistakes I see people make is that they will borrow against their 401K to pay off credit card debt or medical debt.  Within a short period of time, they realize [...]

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