401 K Loan

[I Is Broke]

I have a loan on my 401K. I pay approximately $80 a month on it. I filed for bankruptcy in December. Had my 341 meeting in January.

I am now waiting for my discharge.

I've managed to save enough money to pay off my loan of $3000.00. Is it safe to pay this or will the Trustee take this money? When would be a good time to pay this?

[robivi3]

I would say pay it if you are sure that the Trustee is done with you. Don't tell him what he does not need to know or volunteer information. If you are not sure that he is finished, stuff the money, literally into your mattress and wait.

Also was this money in the bank when you filed? When you file you should have ZERO $$$$$ in the bank with no recent large cash withdrawals.

[HHM]

What is the source of the $3000 you now have to pay this loan?

[I Is Broke]

The money is what I've been saving since I don't have to pay the credit card bills. I have about 2/3s of what I need. The money is coming from my paycheck each week.

Yes, it is literally under the mattress.

All of my bank accounts (3) had less than $50.00 in them. I did not close the account for fear that I would not be able to get another account.

[waziggy]

Put the money into the 401K. Retirement accounts are protected from BK courts!