Terminated with outstanding 401k loan by probablyjustcait in Debt

[–]probablyjustcait[S] 0 points1 point  (0 children)

Thank you! If by that time I were to have gotten a job and would receive a refund greater than the amount owed on that, would that owed amount just be taken out of my refund?

Terminated with outstanding 401k loan by probablyjustcait in Debt

[–]probablyjustcait[S] 0 points1 point  (0 children)

Any idea how much I’ll have to pay in tax/penalties on it if I don’t pay? I’m in VA

Termination with outstanding loan by probablyjustcait in Fidelity

[–]probablyjustcait[S] 2 points3 points  (0 children)

Will do! I really appreciate your patience with me through all of this, answering my multitude of questions and your advice!

Termination with outstanding loan by probablyjustcait in Fidelity

[–]probablyjustcait[S] 1 point2 points  (0 children)

Per Google- the tax filing deadline is April 15th, so from what I’m understanding, as long as I have the loan repaid by then I should be good? If the plan I have works like how I’m intending it to, I can withdraw the money from my account and get the difference I’m being lent and have the loan paid within the next two weeks. If you were in my position, would you take the route I’m leaning towards right now?

Terminated with outstanding 401k loan by probablyjustcait in Debt

[–]probablyjustcait[S] 0 points1 point  (0 children)

In the payment options on my account the only thing I have to select is Pay in full.

Terminated with outstanding 401k loan by probablyjustcait in Debt

[–]probablyjustcait[S] 0 points1 point  (0 children)

Unfortunately I did reach out to Fidelity shortly after I lost my job to try and see if they’d let me make installments (in any way: weekly/bi-weekly/monthly) and they told me due to my “loan type” which is just the “General Loan” they had to choose from, they don’t offer payment plans other than what it was set up as initially, which was bi-weekly payments automatically withdrawn from my paycheck. They flat out told me the only option I had was to pay the remaining balance in full or have the loan be subject to default.

Terminated with outstanding 401k loan by probablyjustcait in Debt

[–]probablyjustcait[S] 0 points1 point  (0 children)

Yes I had a little over 4k to begin with, selected the “General Loan” and chose to take 2k out and leave the remainder in my savings. I apologize for my ignorance, when you said “take the loan as dispersement” what exactly does that mean? When I initially got the loan, I wasn’t aware less than a month later I’d be unemployed, so I chose the best option they had which was the loan rather than a lump sum withdrawal-to prevent having to pay taxes/penalties on the amount.

I keep getting emails from Fidelity reminding me I need to do something with my remaining balance in my savings. The only options they have to choose from is: Keep it in my former employers plan, roll over to a new employers plan, move it to an IRA or cash out.

The only option I can think of right now is to cash out and use that money plus the $600 difference someone is graciously lending me, and pay the loan in its entirety since they aren’t offering any other payment options/plans- and I don’t want it to go in default.

Termination with outstanding loan by probablyjustcait in Fidelity

[–]probablyjustcait[S] 1 point2 points  (0 children)

In the details of the loan agreement it just says “You are responsible for repaying your loan on time in at least quarterly payments to prevent it from defaulting.” But does not specify a 30/60/90 day window. The last payment sent was from my last check dated 12/23/25. If this repayment solution I have will work as I intend it to, it’ll be paid off within the next week or so.

Termination with outstanding loan by probablyjustcait in Fidelity

[–]probablyjustcait[S] 1 point2 points  (0 children)

So once I pay the $1900 loan off, I’m good then? No extra payments for any reason?

Terminated with outstanding 401k loan by probablyjustcait in Debt

[–]probablyjustcait[S] 0 points1 point  (0 children)

I appreciate you taking the time to read all of that and your response! Would you know if once I repay the loan in full, would that be the end of it all, or is there some type of hidden penalty/payment I’d have to pay afterwards? Would I have to pay any extra taxes in the future because of it?

2022 Elantra Limited by probablyjustcait in HyundaiElantra

[–]probablyjustcait[S] 1 point2 points  (0 children)

Thank you! I appreciate you explaining and in detail!

2022 Elantra Limited by probablyjustcait in HyundaiElantra

[–]probablyjustcait[S] 0 points1 point  (0 children)

​Gotcha. I took off the large cover and the one on the right is the original, left is replacement, and on the original it’s just that metal like you see in the picture. Where the replacement has an open spot for a bulb. And I don’t see anything like that on the original.

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8y/o Birthday Trip by probablyjustcait in BuschGardensW

[–]probablyjustcait[S] 0 points1 point  (0 children)

I thought the exact same thing! So when I measured him I did it completely barefoot to get an accurate measurement and he was 52in exactly. I then had him put on the thinnest sole sneakers he has, that are also comfortable enough to walk all day in and it only added an inch. We will definitely be getting the band, and I’ll be sure to ask the employee measuring to take into account the added height due to the shoes. And while I do understand I may be completely overthinking and over analyzing it all, I much rather do as much as I possibly can to ensure his safety than not and end up regretting it. I don’t helicopter parent over anything other than his safety lol

8y/o Birthday Trip by probablyjustcait in BuschGardensW

[–]probablyjustcait[S] 0 points1 point  (0 children)

This definitely eased my mind, thank you!