Get Answers About 401k Loan

Can a portion of 401k withdrawl be used to payoff a 401k loan?

I still owe about $7000 on a 401k loan. I'm 60 now and want to start withdrawing from my account. Can I use a portion of the withdrawl to pay off the remainder of the loan?

Answered 6/26/2010 | Answer This | 4 Answers | See Question

If you leave company before payoff of 401K loan can you keep with investment company?

I have a loan thru my 401K if I leave the company before payoff will the investment company let you payoff the loan through them instead of paying off in full?

Answered 6/6/2010 | Answer This | 2 Answers | See Question

Husband used false information to ge 401k loan is this a crime?

My husband took out a loan out of the 401 k for $15,000.00 he lied and stated he was single and he got the money he changed his status back to married, is this a crime if so what can i do about it and will i...

Asked 5/18/2010 | Answer This | 0 Answers | See Question

Where to report paying back 401k loan form 1040?

Asked 5/4/2010 | Answer This | 0 Answers | See Question

What is the average american 401k loan balance?

Asked 5/4/2010 | Answer This | 0 Answers | See Question

401k loan when unemployed?

Asked 5/4/2010 | Answer This | 0 Answers | See Question

401K Loan

My position was abolished. I have a loan balance of approx $10,000.00. I wanted to rollover my 401K, but noticed that the loan balance is being taken away from my 401k balance. Should I roll over my 401K or...

Answered 5/1/2010 | Answer This | 2 Answers | See Question

Im in serious debt and have a current 401k loan. How can I retreive more money from it

Im in serious debt and have a current 401k loan. How can i retreive more money from it?

Answered 4/30/2010 | Answer This | 2 Answers | See Question

How can i default my 401k loan?

Asked 4/28/2010 | Answer This | 0 Answers | See Question

Lost my job in March, had a 22k 401k loan.

Lost my job in March, had a 22k 401k loan. I may be able to scrape up enough to pay it back. Should I pay it back, or should I just pay the penalties. I can't really afford to pay it back, but I may be able...

Answered 4/28/2010 | Answer This | 3 Answers | See Question

401k loan?

If I take out a loan against my 401k will it affect my credit rating? I'm thinking of buying a home and wanted to consolidate some bills beforehand and was wondering if this would have any neg affects.

Answered 2/3/2007 | View Answer | See Question

How can i figure out the real cost of a 401k loan?

This is only for people who know about 401K and 401K loans. Kiddies, scammer, and beggars - stay out or you'll be reported. The money that goes into 401K loan is pre-tax. Say I take out $30K as a loan at 10%...

Answered 10/6/2006 | View Answer | See Question

Penalties involved cashing out a 401k with an outstanding loan.?

Arizona. I have about $39,000 total in my 401k. I have a 401k loan for $13,000. My income is $86,000. I am considering cashing in all my assets and moving to asia. What kind of penalties will I pay when I quit...

Answered 11/20/2006 | View Answer | See Question

Should i take a 401k loan to pay off my credit card debts?

I have credit card debts equal to 15% of the value of my 401k. I can take a loan from my 401k and pay it back over 5 years at 8.5%. Currently my credit cards have a rate 3-5 percentage points above that. I am...

Answered 11/9/2006 | View Answer | See Question

401k loan vs credit card loan?

A lot of people talk about not to touch 401K, I just wonder what others think if I have the needs to borrow $10000. Should I take a loan from my 401K or from Credit card ? if I take a loan from my 401k the interest...

Answered 3/5/2008 | View Answer | See Question

Take a 401k loan? in this bear market my money is not making money in compound interest?

Over the last 3 months my 401k lost over 7% interest. I currently have about 15-16k in there right now with a 5% contribution and also a company match. I can only borrow up to 7k from it. I have some student...

Answered 3/13/2008 | View Answer | See Question

Do i have to payback the loan if i withdraw on my 401k early?

My husband and I are looking at options to move to Canada. We have debt (credit/loans) that we'd like to pay off before leaving. We plan to pay down our debt over the next two years before the move, and then...

Answered 2/11/2008 | View Answer | See Question

401k loan vs breaking a cd?

I have a dilemma, I need 100K for few months. I have CD's which will mature in 4 months but I need the money today for down payment on a house. If I break the CD, I pay penalties (upto 6 months of interest...

Answered 4/8/2007 | View Answer | See Question

How is the 401k loan interest compounded?

I want to understand if the 401k loan interest schedule is different from a mortgage interest schedule. For example, in a mortgage payment the interest is the most of it. Is it the same with 401k loan? Reason...

Answered 7/3/2007 | View Answer | See Question