New Visitor
Posts: 1
Registered: ‎03-16-2007

Options to Credit card debt

I have a pretty low balance on my credit card but, I'm having difficulty paying all of my bills due to a recent break-up and ending up paying more rent than I can afford along with all of my other bills. I was thinking about borrowing about $2,500 from my TSP saving which is like a 401k to pay off some of my bills, is this a bad ideal? I have no money in my saving at all and I feel overwhelmed. I have enough money to pay all my bills and that is it, I have no money left over. I need some help!
Regular Contributor
Posts: 165
Registered: ‎03-18-2007

If you can take out a small amount and maybe only pay som...

If you can take out a small amount and maybe only pay some small fees it may be worth it rather than risking not paying your CCards. Taking out a loan from that should not show up on your CR if its indeed like a 401k.
Established Member
Posts: 10
Registered: ‎03-19-2007

I agree

One good thing about usng the TSP money is the low repayment interest rate.  It will definitely benefit you to borrow from your TSP.
Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.