Legal Question in Bankruptcy in Minnesota
I am considering filing Chapter 7 with my Husband. How will it affect a loan I currently am repaying to my 401K through my employer?
Asked on 4/23/13, 1:57 pm
2 Answers from Attorneys
Nathan Hansen
Nathan M. Hansen, Attorney at Law
The short answer: You will have to continue re-paying the 401k loan.
Nathan Hansen
651-704-9600
Answered on 4/24/13, 7:18 am
David Kelly-952-544-6356
Kelly Law Office
A 401K loan is essentially a loan from you to you. Such loans are not affected by Chapter 7 bankruptcy and not discharged by the bankruptcy.
Answered on 4/24/13, 12:01 pm
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