Question

What types of debt should be avoided?

Answer 1

Answer:

Toxic Debt #1 – IRS and STATE TAXES. We are officially in what is known as the gig economy. ...

Toxic Debt #2 – 401(k) Loans. A 401(k) is a tool for your future, not for your present.

Toxic Debt #3 – HELOC. ...

Toxic Debt #4 – Credit Cards. ...

Toxic Debt #5 – New Auto Loans. ...

Toxic Debt #6 – Student Loans.