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Post 13 confirmation: 401(k) loan administrator treating loan as an
Debtor's chapter 13 plan includes repayment of a 401(k) loan. No objection
by the 401(k) loan administrator and plan was confirmed.
Postconfirmation, the 401(k) loan administrator forwarded the chapter 13
trustee's distribution check to the debtor and advised him that they
decided to treat his outstanding loan balance as an early withdrawal from
his 401(k). The 401(k) loan balance is approximately $3,000.00.
Stay violation? Best way to handle this?
Sincerely,
*Daniela P. Romero*
*Law Offices of Daniela Romero, APLC*
*1015 North Lake Ave., Ste. 212*
*Pasadena, CA 91104*
*Tel: (626) 817-2611*
*Fax: (626) 296-6991*
*email: dromerolaw@gmail.com *
*web: www.pasadenabankruptcylaw.com *
Debtor's chapter 13 plan includes repayment of a 401(k) loan. No objection by the 401(k) loan administrator and plan was confirmed.Postconfirmation, the 401(k) loan administrator forwarded the chapter 13 trustee's distribution check to the debtor andadvised him that they decided to). The 401(k) loan balance is approximately $3,000.00.
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