Last year, I made the tough decision to withdraw the funds from an old IRA and pay off the vast majority of my credit card debt. I did this for a few reasons- I have another, much larger retirement account with my current position, I was not making progress with my debt payoff since I stopped receiving child support, and I carried a lot of emotional baggage associated with that debt that I just wanted to be rid of.
I talked to a few friends who are in finance, did a lot of research, slept on it, and talked to my mom. Then I pulled the trigger.
I knew I would have to pay taxes on those funds, and also a 10% penalty for withdrawing the money before 59 1/2. And today, I did my taxes. Thankfully, I owe just about what I thought I would owe. I can afford to pay it.
It's done. I have been chipping away at this debt for nearly 7 years, and yet today was a big victory. What a relief.