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Options to Credit card debt

New Visitor

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!
Message 1 of 3
Regular Contributor

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.
Message 2 of 3
Established Member

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.
Message 3 of 3