X
Are you sure? Some CUs have such rules but others don't. What are the details of each loan listed above - i.e. original amount, outstanding amount, term and rate?as far as i know we arent able to access our CU savings as they are tied to our loan.
I don't mean the pension contributions made so far which are most likely inaccessible. I meant stopping pension contributions for the moment and redirecting the money to servicing your debts. In general it makes little sense to be saving while carrying debt. This may or may not apply to your pension savings depending on the details of your scheme, whether or not the employer matches contributions etc.Our pension contributions are through work, taking directly from our wages so dont have access to those either...
But what are the details of the other loans?credit union loan has been topped up a few times over last few years, rate is 6%, again the timeframe for repayments has been extended. partners rate is 8% over 5 years i think.
What is the minimum that you must contribute to get the employer 2% (or whatever it actually is)? You should check out the possibility of stopping or reducing both your pension contributions and using the money to reduce your debts. Of course you need to find out more details including the implications of doing this.partners pension is government so not sure if contributions can be redirected, with my own company pays portion, thinks its 2%
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?