A. Borrowing from your own 401k, 403b or pension plan to pay down higher interest debt is probably the cheapest way to consolidate and pay down your debt, as you pay the interest back to your own retirement account and there is no credit checking so it won't affect your credit scores.
However, it comes with a few drawbacks:
1. If you can't pay back the loan, you will need to pay tax on the loan plus penalties.
2. Your money is not invested in the market which could generate higher return.
3. If you leave your current job, you need to pay back the loan shortly.
4. If you still have to file bankruptcy, you lose everything including your retirement assets.