Ask Experts Questions for FREE Help!
  Advanced
Register  |  Log in  
   Ask    
 Answer  
  Help  

Ask QuestionsprogressAnswer QuestionsprogressBuild ReputationprogressBecome an Expert
 
Free Answers in 3 Easy Steps

Register Now		 3 Steps

At Ask Me Help Desk you can ask questions in any topic and have them answered for free by our experts. To ask questions or participate in answering them you must register for a free account. By registering you will be able to:
  • Get free answers from experts in any of our 300+ topics.
  • Accept money for answers that you provide.
  • Communicate privately with other members (PM).
  • See fewer ads.

Home > Money & Services > Bankruptcy & Debt   »   Secured Loan with 401K as Collateral?

Answer this Question Ask about Bankruptcy & Debt
 
Question Tools Search this Question Display Modes
Question
 
 
#1  
Old Nov 30, 2006, 04:18 AM
menentj
New Member
menentj is offline 		 
Join Date: Nov 2006
Posts: 1
menentj See this member's comment history on his/her Profile page.
Secured Loan with 401K as Collateral?
Would I be able to secure a loan using my 401K account as collateral? advise where I could secure a loan like this?

Reply With Quote
 
     

Answers
 
 
Old Nov 30, 2006, 05:02 AM   #2  
ScottGem
Computer Expert
ScottGem is offline
 
ScottGem's Avatar
 
Join Date: Jan 2003
Location: LI, NY - USA
Posts: 23,157
ScottGem See this member's comment history on his/her Profile page.ScottGem See this member's comment history on his/her Profile page.ScottGem See this member's comment history on his/her Profile page.ScottGem See this member's comment history on his/her Profile page.ScottGem See this member's comment history on his/her Profile page.ScottGem See this member's comment history on his/her Profile page.ScottGem See this member's comment history on his/her Profile page.ScottGem See this member's comment history on his/her Profile page.ScottGem See this member's comment history on his/her Profile page.ScottGem See this member's comment history on his/her Profile page.ScottGem See this member's comment history on his/her Profile page.
Pay to call ScottGem for advice ($.75/min)
Call ScottGem via Skype™
Most 401K plans have a loan provision. Talk to the plan administrator. However, I don't think the law allows using your 401K balance as collateral for a 3rd party loan. You might want to double check that with the IRS.
  Reply With Quote
 
     
Answer this Question Ask about Bankruptcy & Debt

« Previous Question | Next Question »

Question Tools Search this Question
Search this Question:

Advanced Search
Display Modes
Linear Mode Linear Mode

 
Similar Sponsors

Similar Questions
Question Asker Topic Answers Last Post
Loan against 401K mpayne211 Retirement 1 May 27, 2008 08:52 AM
Cashing out a 401k with a loan aaron8375 Retirement 1 Sep 23, 2006 04:19 AM
Secured Cd Loan Question jbowers Banking 1 Jun 24, 2006 03:29 PM




Copyright ©2003 - 2007, Ask Me Help Desk.
All times are GMT -8. The time now is 09:38 PM.

Content Relevant URLs by vBSEO 3.0.0 RC6 © 2006, Crawlability, Inc.