hardship against 401k

[Monolith]

Does anyone know if I can get hardship against 401k, without being in foreclosure or late on anything yet?

 

I have about 1600 a month in credit card debt, along with auto loans (800), home loans(1800) day care (1200) so on, plus another child on the way. Really cannot afford to pay it all anymore, I have been skipping some months on certain payments to get everything paid. Ready to walk away from the credit card debt and deal with whatever happens or save and settle them. I know it not a good idea, but I like to take hardship withdrawl from my 401k, but i don't think that an option as I don't meet the requirments since I am not late on my home loan. Do I need to stop paying my home loan before I could get the 401k money, or could i turn in my monthly budget to show that I cannot pay more home loan anymore? I am thinking that not considered and would not be allowed, kinda sad I would have to let my home go into foreclosure to get the money, what the risk of that? I assume I would have to put that money away to catch up on the loan once I get the 401k money? I have enough in my 401k to pay off all the credit cards as well as auto loans, I know it a bad idea, and the taxes, but cannot deal with the stress anymore and I don't want to spend the next 5 to 20 years paying credit cards.

 

Thanks

[Not Given]

Does anyone know if I can get hardship against 401k, without being in foreclosure or late on anything yet?

 

I have about 1600 a month in credit card debt, along with auto loans (800), home loans(1800) day care (1200) so on, plus another child on the way. Really cannot afford to pay it all anymore, I have been skipping some months on certain payments to get everything paid. Ready to walk away from the credit card debt and deal with whatever happens or save and settle them. I know it not a good idea, but I like to take hardship withdrawl from my 401k, but i don't think that an option as I don't meet the requirments since I am not late on my home loan. Do I need to stop paying my home loan before I could get the 401k money, or could i turn in my monthly budget to show that I cannot pay more home loan anymore? I am thinking that not considered and would not be allowed, kinda sad I would have to let my home go into foreclosure to get the money, what the risk of that? I assume I would have to put that money away to catch up on the loan once I get the 401k money? I have enough in my 401k to pay off all the credit cards as well as auto loans, I know it a bad idea, and the taxes, but cannot deal with the stress anymore and I don't want to spend the next 5 to 20 years paying credit cards.

 

Thanks

 

Visit a bankruptcy lawyer to see if bankruptcy is a good idea. Your 401k would be untouchable if you file, so don't take money out of it and throw it away on debt that may be discharged.