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Home > Money & Services > Other Money & Services   »   want to cash 401k

 
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Old Jul 2, 2008, 08:35 PM
Qin
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want to cash 401k

i am in desperate need of cash between 3500-5000 and because i have horrible credit i can't qualify for anything. i've even tried doing a title car loan and i still can't get approved for that. so much for their advertisement of "will qualify you even if you have bad credit". anyway, i would like to cash out some money from my 401k, but my employer does not allow us to do this. what can i do to just get alittle bit of this cash to just get caught-up with these bills and relieve some of this stress i'm feeling. i'm afraid i will end up w/a stroke because of the financial stress i put myself into. now, i'm finding myself not being able to make my rent this month because i'm a $1000 short. god, help me. what can i do...i really, really, need this little bit of cash. does anybody out there have any solutions for me or know where i can borrow and get approved (of course a reputable finance company) even 3k to just get alittle bit of this stress out of my mind. help! thank you

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Old Jul 3, 2008, 08:56 AM   #2  
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Check this topic: "401k Hardship Withdrawal" at: 401k Loans and 401k Hardship Withdrawals - Accessing Your Retirement Money
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Old Jul 3, 2008, 08:59 AM   #3  
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If your employer does not allow an inservice withdrawal then you can't touch this money. Do they allow a loan? If so, that would be a better bet. But otherwise you have to look elsewhere.
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