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Can you borrow from your 401k?

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Whether you can borrow from your 401k depends wholly upon the plan specifics.

In other words, 401k Loans are generally allowed by the IRS, but are not always allowed by employers.
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What is a 401K?

your retirement fund . It is a type of defined contribution retirement plan offered bymany employers. The employee decides how much he wishes tocontribute, and the employer

WE borrowed on your 401k to try and save your home because we believed it was something you were permitted to do. We never attempted to hide anything and turned it into trustee at meeting.?

  Well, taking a loan from your 401k IS something your permitted to do. It can be a great place to get a loan, as the nterest you pay is reasonable and when you pay it bac

If you were told by your attorney that your 401k was protected and exempt from bankruptcy and you borrowed on it to try and save your home now you are faced with paying taxes on it. can we sue?

Precious...you saw my last answer I should think....better read it again. What he told you is correct...and your 401k is still there and safe from BK.....if he told you it

If you are turning a leased vehicle in as part of a Chapter 13 bankruptcy can you borrow from a 401k to purchase new vehicle?

  NEWS ALERT: YOUR IN BANKRUPTCY...YOU HAVE TROUBLE HANDLING FINANCES, You have more debt than you can handle...COMMON SENSE: BORROWING MORE TO GET OUT OF DEBT DOESN'T WOR

Can you borrow money against your 401k if you are in bankruptcy to pay off your taxes?

  NEWS ALERT: YOUR IN BANKRUPTCY...YOU HAVE TROUBLE HANDLING FINANCES, You have more debt than you can handle...COMMON SENSE: BORROWING MORE TO GET OUT OF DEBT DOESN'T WOR

Can you borrow against a 401k fully vested for personal loan with good credit?

Yes you can borrow on 401(k) loans, the rates will be comparable to other loans, but there are no regulations on what can be charged for loans, although federal rules do requi

Is it ok to borrow from your 401k?

There is a lot of baggage borrowing from your 401k including that if you lose or change jobs the loan becomes due in full immediately. Personally, with interest rates as low a

How do you get a 401k?

A 401k Plan generally is offered to employees by their employer. If you are self-employed, you may start a 401k or other retirement plan.

What about 401k?

A 401(k) plan is a retirement account to which employee and employer contribute, on which taxes are deferred until withdrawal, and for which the employee selects the types of

If you borrowed money from 401k after filing bankruptcy but not yet discharged could this hurt the discharge?

  Oh boy....this can easily turn out to be one of the worst things you have ever done!   The 401k is/was completely protected from seizure under the BK laws. The money

How long does it take to get a check borrowed from merrill lynch 401k?

I submitted for my loan on Wednesday evening and it's now Sunday  evening and I still don't have my money (and I need to pay my  morgage back payments by tomorrow in order t

Is it legal to borrow from 401k before chapter 7 bankruptcy is discharged?

Yes, but it is one of the absolute stupidest things financially you can do. By the end of th BK you will lose the 401k money, which is only protected while it is IN the 401k,

Can you borrow against a 401k if you was fired from the company you had 401k with?

 If you quit, are laid off your job, or your company closes its  doors before you repay your loan, the IRS will consider your unpaid  401(k) loan balance an "early distrib
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Why do you borrow?

When I need something that I won't need often enough to warrant buying it, or when I cannot afford to buy something myself, or when I need something urgently and borrowing is

When do you get your 401k?

 Once you turn 70½, you must begin withdrawals from your 401(k)  unless you're still working. These required withdrawals are  designed to ensure that you use the money in

When can you get your 401k?

The standard age for taking cash out of your 401k plan is 59 ½. So,  if you are over that age then you can take your money out as  dispersals and you'll just pay standard i