I have about 60k in credit card debt. I’m making minimum payments right now. I’ve seen people get their debt reduced by like 50 percent when it’s sold off— is that common?
I have an IRA account, a paid off home in NY, and pension/SS benefits. And one other investment account with 30k in it.
Basically I’m wondering if it’s worth paying off the whole thing (which would obviously hurt my IRA as well— not to mention the tax hit)— or if I should stop paying and let it be sold off, if that would result in a smaller hit.
Any advice/experience?
u/Bettersbb — 6 days ago