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    cheryld053's Avatar
    cheryld053 Posts: 1, Reputation: 1
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    #1

    Oct 20, 2009, 04:42 PM
    Early withdraw 401k
    I am 56. If I leave my job and use my 401k to pay off a bankruptcy what kind of penelties am I going to have to pay.
    ScottGem's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
    Computer Expert and Renaissance Man
    		  
    #2

    Oct 20, 2009, 05:09 PM

    You won't have to pay penalties, but you will pay taxes.
    ebaines's Avatar
    ebaines Posts: 12,131, Reputation: 1307
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    #3

    Oct 21, 2009, 10:13 AM

    If your bankrupt, why would you leave your job?
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