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Asked 1/30/2012

Legal details needed to understand 401k laws

The foreclosure IS done but according to law, we are considered tenants in our home and we ARE being evicted from our primary residence. Filing a bk and WILL prevent eviction for now so I think we should be qualified. I would like to consult a 401k expert. I would greatly appreciate any/all referrals...

 
 
 
 
 
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Answer 1/3 - Submitted 1/30/2012

Do dilinquent student loans qualify for 401k hardship withdrawals?

 
 

Answer 2/3 - Submitted 1/30/2012

No, they don't. Only tuition bills. Kind of backwards, isn't it?

If you have unpaid medical bills in excess of 7.5% of your yearly income, those can be used for a hardship. Of course, the IRS will want to see that those bills were paid.

 
 

Answer 3/3 - Submitted 1/30/2012

Friendly, direct answer...

 
 
 
 
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