Does anyone know where I can get an unsecured loan to help with bills (not credit card debt - I don't have any of those). I need an immediate fix due to my current job giving pay cuts to everyone. I was living from paycheck to paycheck but now that isn't even enough. I am starting a second job in the next few weeks, but I need something now. I do not want to ask friends - most of which live paycheck to paycheck also. And I don't have much family. I was looking at payday loans but I've heard those are not a good idea. I have bad credit from problems years ago. Am I screwed? I was even thinking about quitting my current day job (since it's not that great anymore) and taking money from my 401k. I know about the 10% tax and how this will be taxable income - considering I have a loan on it already. I should have no problem getting a new job but I know it won't be at what I was making before the paycuts. I guess I just need someone to tell me how stupid it would be to quit my job and take some of the 401k money, but right now, I don't know what else to do. Thanks in advance for the help & I apologize for the very lengthy question.

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Originally Posted by need 401k help

Does anyone know where I can get an unsecured loan to help with bills (not credit card debt - I don't have any of those). I need an immediate fix due to my current job giving pay cuts to everyone. I was living from paycheck to paycheck but now that isn't even enough. I am starting a second job in the next few weeks, but I need something now. I do not want to ask friends - most of which live paycheck to paycheck also. And I don't have much family. I was looking at payday loans but I've heard those are not a good idea. I have bad credit from problems years ago. Am I screwed? I was even thinking about quitting my current day job (since it's not that great anymore) and taking money from my 401k. I know about the 10% tax and how this will be taxable income - considering I have a loan on it already. I should have no problem getting a new job but I know it wont be at what I was making before the paycuts. I guess I just need someone to tell me how stupid it would be to quit my job and take some of the 401k money, but right now, I don't know what else to do. Thanks in advance for the help & I apologize for the very lengthy question.

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This is from my husband:
1. Call the mortgage company and see if they will allow you to pay interest only, for 1 month, on your home and put the payment you are not paying, to the end of your contract.
2. Pay only the bills that are important, i.e. mortgage, utility, auto payment, insurance. If your credit is bad anyway, not paying the others immediately shouldn't make much of a difference in credit and will keep you afloat.
3. Don't take out loans, do not take from 401k, do not borrow to get deeper in debt. Repeat, DO NOT BORROW MORE.
4. When you get 2nd job, start catching up.
5. Do not give in to despair. This is fixable.

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NEVER EVER BORROW FROM A PAYDAY LENDING PLACE!! They are nothing more than a loan shark! Also please think twice before taking from your 401K the taxes will be hefty DO NOT BORROW ANY MORE MONEY try living with as little as possible. When you start your second job try to save a little back so you will have some for life's little emergencies