Unless things change at the last minute, Americans who make up to $48,600 will have a 15 percent rate. Between $48,600 and $125,450 a year will have a 28 percent rate, and those who make more than $398,350 will pay a rate of 39.6 percent.
It is the penalty plus the normal tax rate that adds up to about 30%. That of course assumes your normal tax rate is 20%. Mine is right in that range that is why I use 30%. As always, you mileage may be different.
Another option you might consider is a loan against the 401k. Granted you will have to pay it back and the loan is around 7% interest (to yourself) but if you are paying mid level interest rates (10 to 15+% on credit cards) you can “refinance” your debt by taking a loan and pay of your cards. Use the “extra” in savings on the cards to pay off other debts faster.
Again, your specifics my be different. This is only being presented as options to consider.