Comments on: Temporary loans from 401K to pay off credit cards

By: 401kdummies

401kdummies — Wed, 19 Aug 2009 15:10:31 +0000

I’m not finished read this yet, but it’s so fabulous ‘n I’ll back again when I was finished my job :D

By: jgh0508

jgh0508 — Mon, 22 Jun 2009 14:08:52 +0000

My parents did this for me years ago. I ran up too high a debt and couldn’t make a dent in it and they helped me out and I paid them back over time with no interest. it WORKS. i learned my lesson-pay off every month now

By: alewis

alewis — Thu, 18 Jun 2009 21:21:42 +0000

you can, but with a whole lot of asterisks. This is a plan specifically designed to reliieve people of their credit card obligations without putting a dent in their cash flow.

By: bfdmarkoff

bfdmarkoff — Thu, 18 Jun 2009 21:03:57 +0000

You already can borrow from your 401k. I don’t get why you think this idea is so brilliant

By: alewis

alewis — Wed, 17 Jun 2009 16:12:59 +0000

People, I don’t run the country, ok? I can’t just call the White House and say, do this stuff. You can’t blame me for these things not being implemented. Hopefully the book will help — it will have a lot of promotion behind it.

The irony is that I did in fact tell Barney Frank about the Stimulus Gift Card. And he acted on it, as you can see from all the Stimulus Gift Cards being issued (not). Actually he said it was a great idea but that I was too late for the January stimulus package.

As to JGP’s point, there is a posting on a proposal to do something like that, last week. Hopefully you found it. It’s from Tooz

By: JGP

JGP — Wed, 17 Jun 2009 16:08:38 +0000

can you come up with something like this for mortgages? how would you do it?

By: NotanIdiot

NotanIdiot — Mon, 15 Jun 2009 21:17:29 +0000

credit card defaults are way up today. this would solve the problem in the short term

By: YORKIE0205

YORKIE0205 — Mon, 15 Jun 2009 15:15:43 +0000

I don’t understand why NONE of the ideas on this site are being done yet. could you please explain to us Why THIS IS THE CASE??? Why aren’t you getting this done!

By: harvardeconomist

harvardeconomist — Sat, 13 Jun 2009 21:21:14 +0000

great idea. I can think of no reason not to do this. Why bother with a blog that is not promoted and not many people see? Just write op-eds or something.

By: heloise

heloise — Fri, 12 Jun 2009 14:06:55 +0000

here is a hint. Dont bother with a book. JUST SEND THESE IDEAS TO THE RIGHT PEOPLE. Almost all of the ideas on this site arebetter than spending money and increasing the deficit and interetst rates.