It is never a good idea to tap into your retirement account early. An early withdrawal could cost you penalties. This is just one reason it is not a good idea.
You will need this money some day and it will not be there for you.
Trying to gain control of outstanding debts that are just compounding by the day is a stressful situation. I have found that many debtors, before they come to me, have tapped into their retirement accounts and are still struggling and they just cannot catch up.
It is important to know that retirement accounts are free from bankruptcy. Rather than draw from these funds, you should make an appointment to see if bankruptcy would be a better option.
Once you pull out this money, you cannot go back and exempt these retirement accounts in bankruptcy.
Also, retirement withdrawals within six (6) months of a Bankruptcy filing are considered income and could potentially make you ineligible for a bankruptcy.
You should seek advice from a Certified Bankruptcy attorney to determine if bankruptcy is right for you before you make withdrawals from your retirement accounts.