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Is it a no no to take a small 401k ( loan) before discharge?

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    #1

    Is it a no no to take a small 401k ( loan) before discharge?

    Sorry, I have been starting threads to get a good answer! We just had a major house repair bill with no money to pay and I was wondering if it is ok to take 401k loan that I pay back through my paychecks before we have our discharge? We are a No Distribution 7. Thanks! Everyone is so helpful and I have slept better with encouragement from you all!
    Filed 09/29/2010
    341 meeting 11/09/2010 Notice of no distribution same day!
    Discharged!!! 01/12/2011 Closed!! 1/18/2011
    Tags: 401, 401 loans
    #2
    Originally posted by birdo View Post
    Sorry, I have been starting threads to get a good answer! We just had a major house repair bill with no money to pay and I was wondering if it is ok to take 401k loan that I pay back through my paychecks before we have our discharge? We are a No Distribution 7. Thanks! Everyone is so helpful and I have slept better with encouragement from you all!
    its better to wait until u get discharged.
    Filed chapter 7 on 9/17 341 on 10/20
    Chapter 7 Trustee's Report of No Distribution on 10/21
    Discharged and Case Closed on 12/21/2010

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      #3
      Thanks! I thought so! Just hoping! hahahah This is quite a test! sometimes I just have to chuckle because it is so unbelievable .... But then I count my blessings. There a much worse things in life and I am truly thankful for what I do have!
      Filed 09/29/2010
      341 meeting 11/09/2010 Notice of no distribution same day!
      Discharged!!! 01/12/2011 Closed!! 1/18/2011

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