I'm nearing retirement age and in poor health and the chances of finding a job are slim. Don't own a home or car the only thing i have is my 401k plan ith enough to pay cards but then nothing left.
Would the credit cards come after my 401k or my monthly social security check?
2007-12-09 01:19:59 · 3 answers · asked by Anonymous in Business & Finance ➔ Personal Finance
my question. what happens besides my credit rating going down the toilet if i just don''t pay my credit cards.
because of health reasons i don't plan to work after i get laid off from my present job which i had for the last 32 years.
can they garnish my 401k and my social security check (in 7 years) to paid my credit cards?
2007-12-09 03:28:15 · update #1
your 401K is not untouchable -- best bet in the long run is to keep paying on the cards and when you retire take 401 pay off credit cards and hope you can get by on your ss --- good luck!!
2007-12-13 01:01:42 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Don't quite know what you're asking here, except that you need a plan. For the best plan for your situation, I'd read Dave Ramsey's book The Total Money Makeover.
Good Luck
2007-12-09 11:18:28 · answer #2 · answered by snvffy 7 · 0⤊ 0⤋
No but they can sue you... and in that case they may be able to have your wages garnished if they win.
2007-12-09 09:24:42 · answer #3 · answered by Anonymous · 0⤊ 0⤋