In fact, almost one-third of Atlanta area residents seeking foreclosure guidance from the Consumer Credit Counseling Service of Greater Atlanta have already taken money out early from retirement plans – considered a risky move by many experts.
A CCCS survey also showed that almost half of the agency’s foreclosure prevention clients are concerned about having sufficient funds to support their lifestyle throughout retirement.
The survey reveals that while many respondents tap these vital retirement accounts to meet current financial obligations, many wind up behind on credit card debt and other outstanding loan payments.
Have you found yourself considering similar actions?
“Our hope is people will seek credit counseling to discuss all of their options before taking the drastic step of depleting funds they’ve set aside for retirement,” said Suzanne Boas, president of CCCS of Greater Atlanta.
“The fact that people are taking early withdrawals and falling behind on their bills again indicates they only got a temporary solution to their problem,” she added.
Similar Posts:
- Heading toward Foreclosure? Get Help with a Foreclosure Counselor
- Credit counseling helps improve debt management skills
- What Will It Take To Pay Off Our Mortgage Early?
- The New House And New Goals For 2010
- Debt Consolidation vs. Credit Counseling: Which Is Right for You?
Recent Comments