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    tonyhusker's Avatar
    tonyhusker Posts: 2, Reputation: 1
    New Member
    		  
    #1

    Feb 24, 2008, 08:39 AM
    Does anyone know if you can borrow against a 401k if the employer does't make loans
    Does anyone know if you can borrow against a 401k from anyone if the employer does not make loans against a 401k
    Clough's Avatar
    Clough Posts: 26,677, Reputation: 1649
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    #2

    Feb 24, 2008, 10:40 AM
    (Question moved from Introductions to a more appropriate topic area.)
    s_cianci's Avatar
    s_cianci Posts: 5,472, Reputation: 760
    Uber Member
    		  
    #3

    Feb 24, 2008, 11:33 AM
    You should be able to. You'd be borrowing against your own earnings, not from your employer. Even though your employer matches your contributions, once the contribution is made it's your money, not your employer's so you can borrow against it.
    talaniman's Avatar
    talaniman Posts: 54,325, Reputation: 10855
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    #4

    Feb 24, 2008, 12:09 PM
    You have to check with the administrator of your plan, as the policy on loans varies from place to place.
    ScottGem's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
    Computer Expert and Renaissance Man
    		  
    #5

    Feb 24, 2008, 02:47 PM
    The only one who can loan you money against a 401K is the plan itself. If your plan design doesn't allow for loans then you are stuck.
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