Can I borrow from my 401 K to pay off my Chapter 13?
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Can I borrow from my 401 K to pay off my Chapter 13?
Asked on March 9, 2012 under Bankruptcy Law, South Carolina
Answers:
Alicia Beeler Villines / Law Office of Alicia Beeler Villines
Answered 12 years ago | Contributor
As a general rule, you must receive court permission to borrow any amount of money while you are in a Chapter 13. So your Motion to Incur Indebtedness should state your reason. I haven't dealt with this particular issue; please let me know how it turns out. I'm curious.
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