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Updated about 6 years ago on . Most recent reply
Bad Investment... recovery plan needed
Dear BP Community,
I made a bad investmen of $25k which I do not know if I will get back. I know the mistake I made and how not to ever do it again going forward. However, that $25k is affecting my credit... more so my utilization than my score. Also that debt was pulled from a LOC. Can't really make any moves until that is paid back. Slow roll it and pay it off in about 10 months? Use 401k to clear up credit? Any other suggestions will be greatly appreciated! I am a newbie looking for first purchase.
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Jay Hinrichs
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Jay Hinrichs
#1 All Forums Contributor
Professional Services
#1 All Forums Contributor
- Lender
- Lake Oswego OR Summerlin, NV
pay it off in 10 months don't use your 401k
- Jay Hinrichs
- Podcast Guest on Show #222
JLH Capital Partners