My brother was going to give me some money to pay off my 401k loan then I was going to borrow against my 401k again pay him back and pay off my debt instead of filing BK. My wife is going to file on her own it looks like if I don this will it affect the BK. Ours is a mess because of a pending lawsuit against another party for being involved in a car accident that should settle in the next few months. The attorney kind of him hauled around abut her filing alone and/or just waiting until lawsuit is settled.
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You are going to get the same response you got last time you posted about using your 401k to pay off debt: Using exempt retirement funds to pay off your dischargeable debt is a stupid idea.
That said, I don't think you getting a gift and paying off your 401k would be a problem for your wife's BK, but don't do anything without first asking her lawyer.
Why not wait for the lawsuit to settle before making any decisions?Last edited by LadyInTheRed; 01-30-2014, 08:10 AM.LadyInTheRed is in the black!
Filed Chap 13 April 2010. Discharged May 2015.
$143,000 in debt discharged for $36,500, including attorneys fees. Money well spent! -
Well that is kinda of what the attorney said in a round about way, but my wife has been summons to court and he is checking to see if that if is even legal how they notified her.Comment
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