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    menentj's Avatar
    menentj Posts: 1, Reputation: 1
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    #1

    Nov 30, 2006, 06:18 AM
    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?
    ScottGem's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
    Computer Expert and Renaissance Man
    		  
    #2

    Nov 30, 2006, 07:02 AM
    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.
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