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If Laid Off, Must I Pay 401(k) Loan Penalties?

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    • I think we should do whatever will convince you to vote for Obama in November. Show those racists your not one of them. Change takes longer than 4 or 8 years. FDR had 4 terms and needed more. Barack for life.

    • Nothing would please me more than for Obama to be reelected, all of the Bush tax cuts to expire, further tax increases on the rich and on investment income, and for the resultant total collapse of the U.S. economy. Then we will finally have true equality where I can just take what I want and what all you racists owe me.

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    • Obummer!!!

    • Shocked that some, at least two, in this country know so little about work and how this country has been run in the past three plus years. Debt is just one example of ignorance; give away the legimate taxpayers money to give to those to worthless to get out and make a legimate living for themselves. It is truly disgusting and as it is written, “The borrower(USA) is a servant of the lender”, and if you can’t understand that just watch as time goes by. You don’t even begin to understand what total economic collapse means for any country … and my ignorant friend, this one will be the mother of all collapses.

    • Agree with “Shocked.” Four more years of the current incumbent is definitely not the answer economically,politically, ethically,spiritually, or in the interest of national security. Promoting class warfare creates division and serves the interest of Mr. Obama’s extreme narcissism.

    • I don’t care whether Obama is good or not. I’m a Democrat and he’s on my team. Another vote for Obama here.

    • Today we learned that America’s net worth has dropped 40% the past 4 years. We are a national Long Term Care Insurance brokerage company and have our hand on the pulse of the nation’s economy. As people’s net worth has declined so have LTC sales. As people get laid off like this article goes over people don’t think about LTCI as much.

      The bright spot is over the past 6 months we have seen a slight improvement. We have a hot debate found here: http://www.longtermcareinsurancetree.com/general-discussion/long-term-care-insurance-and-americas-declining-net-worth

      Darrick Wilkins
      Founder and co-CEO of LTC tree

    • On June 1, General Motors announced a plan to reduce its pension liability by an expected 26 Billion dollars. The GM plan provides select U.S. salaried retirees a lump-sum payment offer and other retirees with a continued monthly pension payment. This will be a complex decision-making process and the advice of a qualified financial advisor is suggested. For a free white paper and information on the General Motors (NYSE:GM) Pension Buyout visit http://www.gmpensionbuyout.net The decision deadline has been set for July 20, 2012.

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    • July 20th is almost here, and if you’re a General Motors retiree you know that means your pension plan decision time is almost up. You’ve likely heard there are risks involved, but are you aware of what those risks are? It’s been recommended since the June 1 announcement that you seek the advice of an experienced financial planner while making your pension plan decision. If you’ve yet to act on that, don’t worry – there is still time. This video was created to help retirees better understand the pension plan choices: http://youtu.be/32ZRne7AoTQ. Face July 20th with confidence; let a financial planner help you make the right pension choice.

    • Even if you qualify to get a debt coolasidotinn loan, you should probably avoid getting one. The reason? When people have their credit cards paid off with the coolasidotinn loan and have all that available credit to use again, it’s simply too tempting to start using all the new available credit and you quickly find yourself in twice as much debt as before.Another option: Contact your local Red Cross for a referral to the local Consumer Credit Counseling Services (CCCS) in your area. They can negotiate much lower payments and interest rates. They DO NOT negotiate settlements.They will require you to stop using all credit and to cut up your cards. Your credit report will be updated to enrolled in debt management. This does not damage your credit, but it may make it impossible to obtain new credit while you are enrolled in their program .so don’t use this service if you anticipate applying for a new apartment, car loan or mortgage anytime soon, as you would probably be denied while you’re enrolled in the CCCS debt management program . Otherwise, it can be a very good way to deal with your debt.Please note that CCCS cannot perform miracles in situations where there is an overwhelming level of debt relative to your income/assets. Sometimes Chapter 7 bankruptcy is the only solution to overwhelming debt. Don’t let anyone smear or guilt-trip you for making this decision if you have to especially all the people who like to quote Dave Ramsey who think that BK should always be avoided .this is ridiculous advise that only benefits credit card companies Of course BK should be avoided if at all possible but sometimes it is needed. Do what’s best for you and your family. Corporate America uses BK all the time and no one slams them.Just remember that you can only file for Chapter 7 once every eight years .so if you file, you won’t be able to discharge your debts again for eight years, even if you find yourself in a worse financial situation..

    • Well I used to sue people that didn’t pay their bills and was a cooelctlr so I have a little knowledge about consolidation. It is good you don’t want to go through CCC because they take about .75 cents of every dollar you give them. If you own your home you could try refinancing to get some money out or a home equity loan as it will have lower interest than your CC’s. Depending on how good your credit it a consolidation loan could be a good option, ask your bank or try a credit union to get the best rates. You can also call your credit card companies. Most will work with you if you let them know before you go delinquent. I had an MBNA card that I let get too high and couldn’t pay anything but the minimum, I was 18, first card. They gave me 0% interest as long as I made my monthly payments but they closed the card. They also bumped up my monthly payment to $30. I ended up paying it off with a little help from taxes but I didn’t have to pay interest. Your best bet would be call your CC companies and see if they will lower your interest. If you want one payment then try for a loan.

    • Dear Anonymous (why “anonymous”):The vast majority of my raseerch is on other areas of economics. In answer to your second question, I don’t have to teach anything these days so I have more time for raseerch.

    • By WebOsPublisher

      Instructions for how to extract icons from EXE files in Linux.
      Extract Icons from EXE Files in Ubuntu Linux – Alastair.pro
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      Extract Icons from EXE Files in Ubuntu LinuxPublished 2012-04-25
      As I sometimes use Windows programmes for testing cross-compatibility of projects, I end up adding iconless WINE shortcuts to my launcher but there is an easy way to extract icons from EXE files! I normally just hop onto Google Image Search and find a nice .PNG with transparency but here’s a quicker method:
      sudo apt-get install icoutils
      wrestool -x -t 14 source.exe > output.ico
      The above should result in a multi-layered file but it’s quicker and easier to open this proprietary Microsoft Windows .ICO in GIMP, select which icon you’d like to use then export it as a non-proprietary .PNG file to retain transparency.
      As they’re the sort of things I wouldn’t remember (or bother) to back-up, I’ve found it convenient to store all of my icons in a sub-directory of my Ubuntu One share so that they’re painlessly accessible on every computer or future installation.
      Posted in Linux, Software, WINE
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    • When I was hired I was told that the company has a matching contribution of .50 cents for each dollar up to the 1st 6% of my contributions. They also said the matching amount is discretionary.

      During the past two years I have deposited into the 401K account enough to get the maximum match and then in March of the following year the company states that they will not be making the match for the previous year contributions.

      Shouldn’t the match be determined at the beginning of the plan year. Is there some type of rule that regulates this by the IRS?


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