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precious1bj

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Why can't I get a short term note? I have about $35,000 credit card debt and IRA
IRA worth about 74,000, but can't access until Jan. or Feb of 2016, I am in a financial strap until then and can't make my payments and keep getting deeper and deeper in debt due to this situation Need to get rid of these credit card payments.

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If you cash in your IRA before you're 59 1/2, you'll pay a 10% federal fee on it

You cannot use an IRA or a 401k as collateral for any secured loan

You can transfer funds from an IRA to a 401k

You can take a loan using the funds in a 401k as long as you repay the loan plus interest within five years

Have you tried a consolidation loan on your credit cards where your IRA is located? Do you have any property you can use as collateral? Have you tried working out a payment plan with your credit card holders?  You might find it necessary to work with a credit repair company, close the accounts, and get the interest rate on the cards reduced.

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