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Asked 1/29/2009
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Paying back a 401k loan Question, i have a 401k loan and wanted to know if i cash in my 401k does the loan get paid in full at that point or can i continue to pay back the loan through my payroll deductions? |
Answer 1/2 - Submitted 4/20/2009
You can continue to payback your 401K loan out of your paychecks, they should of already set that up for you at the time of the loan.
If you withdraw all the 401K it will be less the loan amount. It will be worth you while to continue to make your payments on your 401K, after all you do get a credit for being in the 401K plan.
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