One of the worst ways you can take in resolving your credit card debt issues is to get funding from your 401K savings. This is a bad idea to start with, as you will be taking less money home. Another consequence is that you cannot continue to contribute until you have fully paid back your loan. And if you are no longer employed, you will have to pay the loan almost immediately or else you will have to deal with withdrawal charges and other fees.
Unless your debt is secured, refinancing options are a no go. Taking out a home equity loan and tying that up with your current debt means you will need a steady flow of income or you will risk losing your home and still have a lot of debt on your hands. You will also get negative remarks on your financial records which will make any financial transactions in the future a tad difficult to accomplish.
Applying for new credit cards to pay off your existing debts makes a lot of sense only if you use such card for said purpose. That said, many people, despite their good intentions, end up using their new cards to make new debts instead of resolving them. And most of them end up with bigger debts and a date with a debt settlement firm.
It's true that resolving your obligations with your credit card company is a hard mountain to climb. But while there is some degree of difficulty, there are some options as well. Banking your money on a debt settlement firm to help you fix your finances is a start. And if you highly consider going this route, then do understand that you have to be picky with the firm you want to handle your finances.
