One More Question.......(sorry)

[klux]

Has anyone had experience with 401K loans? Just curious if they will be paid in our plan, or if we will continue to pay through payroll deduction. I had to list them under secured, I don't know why, but when it listed examples it said 401K loans. We've got a call into laywer, but she normally takes days to get back to us. I'm only going with her because she is a "respected" bankrutpcy attorney in my city.

[lrprn]

Has anyone had experience with 401K loans? Just curious if they will be paid in our plan, or if we will continue to pay through payroll deduction.

Well, I almost hate to tell you this, but including paying back my husband's six 401K loans along with continuing to contribute to our retirements snagged us an objection from our Ch 13 trustee. Right now 15 months later it looks like our trustee is finally going to let this objection go - we'll find out soon.

Whether paying back your 401K loans is going to be an issue in your court is hard to say. Your lawyer should know what's happened to other Ch 13 filers in your district who have had 401K loans and how repayment was handled.

Good luck - hope you get good news and won't have the same problems we've had.

[gunsmoke]

mine stayed on payroll deduction

[USCGrad90]

Mine was on payroll deduction and did not change at all. I am a few months away from having it paid back, so it will free up a little extra money.