I took out a small 401k loan in September. Did everything online through Fidelity who handles my retirement plan. Was told that everything was sent to my employer and they would handle from there. Loan start date was 9/3/19. Got a letter today (12/11/19) informing me that I was past due on my loan. After looking into it, I discovered that my employer has not made a single deduction from my pay, nor have they made a single payment to the loan. My job is pretty seasonal (Harley Davidson dealership in Ohio, so winter is rough) and money isn't as easily come across this time of year. I have until 3/31/20 to both make my current payments and clear up the past due or the loan defaults. Do I have any real options to get this straightened out or am I stuck on an even tighter budget until I get this all cleared up?
Submitted December 11, 2019 at 07:03PM by MrTrombone883 https://ift.tt/2LMJlP5
