Legal Question in Family Law in Indiana
401K Loans
I have a $24,000 loan out against my 401K that I can not default on as long as I am employed by my present employer. The money was used to pay off marital debts. Because the debt is being paid back to myself, my husband's attorney is stating that it can not be considered a debt. If I can prove that the money was used to pay off other debts that would have existed, is the loan a debt?
Asked on 1/03/07, 10:24 am
1 Answer from Attorneys
Re: 401K Loans
It sounds like you are not represented since you refer only to your husband's attorney. If that is the case, your problems are far more serious and you need representation. If you are represented, your own attorney is in the best position to answer all of your questions. Good luck
Answered on 1/03/07, 12:02 pm