Chat with us, powered by LiveChat

Cashing out Stocks to Pay Down Credit Card Debt?

Here’s an interesting take on paying down outstanding credit card debt. Liquidating a piece of your non-retirement portfolio to pay down your credit card debt? The following article discusses this as a viable option for those eager to pay down credit card debt.

http://usatoday30.usatoday.com/money/columnist/krantz/story/2012/09/24/ask-matt/57838072/1

What I like about this article is the common sense advice if you happen to be fortunate enough to have a diversified portfolio that allows a stock sale to pay down credit card debt. The article points out that if you take money out of your portfolio and use it to pay down credit card debt at 15% annual interest, you’re locking in a guaranteed 15% return. And who wouldn’t like that in our economy? And what would be better than that? Paying that debt down at a discount through a debt settlement attorney. Know your options before you do this. Using the experience of an attorney might save you an additional amount of money that you can throw back into a stock portfolio after you debts are settled.