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Pay off credit-card debt with 401(k) contributions (Orlando Sentinel)

November 28, 2009 by admin · Leave a Comment 

Q: I owe about $65,000 in credit card debt on several different accounts and am struggling to make the minimum payments. The interest rate on these cards range from 9.9 to 25 percent. I am saving 6 percent of my income in my 401(k) and am wondering if I should stop this and pay more on my credit cards. I am 36 years old.

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