Washington DC (openPR) 11 January 2006

consumers by the sudden doubling of their minimum required monthly payments will be stung by credit card, in order to eliminate new paths Credit card debt in place of their debt card with cheaper alternatives, such as 401 (k) loans, said retirement plan expert, Daniel Lamaute, CEO of Lamaute Capital, Inc. (InvestSafe.com).

many consumers do not pay hundreds of dollars more per month on their credit card statement and may fall more Distressed Debt. It is the mission?? S, since the payment a day late, some companies of credit cards raise interest rates now as high as 29 percent and require a fee for late payment.

? We are already seeing more requests for information about the 401 (k) loans as consumers because of their high card debt eliminate ????, Lamaute to search, said. The main attractions of the 401 (k) loan are as follows:

There is little bureaucracy, and there is no credit check.


Interest in a 401 (k paid) loan to the 401 (k) credit account – pay as borrowers interest to themselves, and not a bank or other lender.
There are no taxes and penalties on early withdrawal as long as the loans are repaid on time according to the terms of the loan.
The interest rate on many 401 (k) loan is fixed at prime rate and is fixed for five years, the normal length of a 401 (k) loan.

contact his employer to see if it makes 401 (k) plan loans. self-employed and people who are their own business (part time or full time) can open their own individual 401k with a loan feature.

ATI? may benefit from IRA, 401k transfer from a previous employer, SEP plan or other qualified retirement funds to a Solo 401 (k) Plan and loans up to 000 or 50% of the solo 401 (k) account balance, whichever value lower is.

Please make out, however, the 401 (k) follow loan policies. Defaulting on a 401 (k) loan is very costly, and 401 (k stock) the balance of the loan than the tax deduction plus a possible penalty of 10 percent percent are treated.

Lamaute Capital, Inc., (www.InvestSafe.com) is an investment company specializing in the development of the pension.


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Eliminate credit card debt