Can you take a hardship withdrawal from your 401k while in a Chapter 13?
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Can you take a hardship withdrawal from your 401k while in a Chapter 13?
Asked on April 25, 2012 under Bankruptcy Law, Kentucky
Answers:
MD, Member, California Bar / FreeAdvice Contributing Attorney
Answered 12 years ago | Contributor
You can take a hardship withdrawal I believe without penalty if it is a verifiable hardship. In this circumstance, bankruptcy is considered a verifiable hardship. You should speak with your plan administrator (the actual company, not your employer's personnel department) and see what you need to do to claim the monis and how much you are eligible to withdraw.
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