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  1. #1
    Join Date
    Apr 2006
    Location
    michigan
    Posts
    3

    Default 401K Balance After Discharge in Bankruptcy

    There was a balance in my 401 upon discharge. The 401 folks tell me I have to repay the loans to be to use the balence, I offered to have the balence offset the loans and was refused rudely by the fund managers. What happens to the balence when I retire? if the balence exceeds the loan amounts can I recieve the difference?

  2. #2
    Join Date
    Sep 2005
    Location
    Behind a Desk
    Posts
    98,846

    Default

    If the balance of the account is sufficient to pay off the 'loan', and any non-discharged interest, costs, fees, etc., associated with the loan, you should receive the remaining amount.

  3. #3
    Join Date
    Apr 2006
    Location
    michigan
    Posts
    3

    Default

    Thank you
    The money put in the fund is not money contributed from the fund but is in fact my money. Thank You

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