A retired 41-year-old with a family of five and $46,000 in credit card debt seeks advice on how to pay it off with only $3,500 left after monthly bills. Advisers caution against dipping into IRAs due to high penalties and suggest exploring debt management plans or balance transfers. The job market is tough, and experts recommend budgeting, expense reduction, and seeking financial counseling. The average U.S. household has $6,500 in credit card debt, with a total of $1.21 trillion nationwide. The reader is encouraged to create a budget, cut expenses, and prioritize debt repayment to live debt-free.

Read more at Yahoo Finance: I’m 41 with $46K in credit-card debt. Do I raid my $1.2 million IRAs?