Get Answers About 401k Loan

401K Help Please.....

I recently took out a 401k loan for $2500, vested balance is stating $10,000. Due to an overseas move I am terminating employment and wish to cash out, employer does not contribute anyway. Question being will...

Asked 1/24/2012 | Answer This | 0 Answers | See Question

My ex forged my name to a 401k loan

I would like to know if I am responsible for a loan that my ex took out on his 401k plan through his previous employer. while trying to get the instructions on how to divinde th efunds following our divorce I...

Answered 12/21/2011 | Answer This | 1 Answer | See Question

Once a 401K loan has been given, can they "default" and demand payment?

I took out a 401K loan about 30 days ago and now they are stating they should not have approved it because I have more than one outstanding loan and their policy is to allow only two loans at a time. They are...

Answered 12/21/2011 | Answer This | 3 Answers | See Question

We defaulted in paying a 401k loan seven years ago, are we able to borrow again?

We defaulted in a 401k loan seven years ago. my husband is still employed by the same company (25) years. can we borrow again?

Answered 12/7/2011 | Answer This | 2 Answers | See Question

401k loan

I am 66 years old but still working full time. I am planning to get a loan from my 401k. My question is, do I have to pay back the loan, or am I allowed to get a partial amount without paying it back?

Answered 11/23/2011 | Answer This | 5 Answers | See Question

401k loan

I had a loan from 401k i lost my job and before my rollover took place they repaid the loan. will this have to be counted as additional income on my taxes

Answered 11/19/2011 | Answer This | 2 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 11/19/2011 | Answer This | 6 Answers | See Question

Can i stop my payroll deduction on a 401k loan?

Payroll deduction amount is too much because of current hardship

Answered 10/30/2011 | Answer This | 3 Answers | See Question

I took out a 401K loan for $15,000 and a week later they stated I could not take a loan out because I had 1 out and they repo...

I applied and completed the loan on their website and they sent me the loan papers, however, a week later they stated it needs to be a "Withdrawal" from my 401K and the IRS sent me a letter that is stating...

Answered 10/6/2011 | Answer This | 2 Answers | See Question

Will my 401k loan roll over or default when my company changes proivders?

My company was sold. the new company has a different 401k provider. my 401k will roll over but will the loan?

Answered 9/20/2011 | Answer This | 4 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