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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