Archived Hardship withdraw

[masterspot]

Do you have to pay it back?

I have a tax bill on an apartment I have to pay back taxes on. I need to borrow a hardship loan to get it paid down. Would I have to pay back on it?

 

[mrknownothing]

Check out this thread: http://www.thebreakroom.org/index.php?threads/tm-hardship-fund.4021/

 

[masterspot]

Already did. I believe I can submit my work through the Target Pay and Benefits site. I'll go ahead and do it since I need the money now.

 

[Hardlinesmaster]

Go to your hr. Hardship fund is up to 500.00. They give you a form to fill out. Don't touch your 401.

 

[slinesslave1]

if you have 401k you can take a non hardship withdraw it will cost you 10% penlty depending on how much it wont be that much come tax time. ive done that before. i did take a loan out on my 401k to at one time but i have paid that all off

 

[XploitedFlow]

I am going to be doing this soon as well. How common is it? A friend of mine has been with Target for almost five years and she had no idea this existed.

 

[Hardlinesmaster]

Tell everyone. But, be careful on the 401k. If you can't pay it back quickly, there will be a 33% tax on it.

 

[bckrmbulldog]

i have been with spot for almost ten yrs and have no idea what a hardship fund is. details!

 

[Hardlinesmaster]

Check out this thread: http://www.thebreakroom.org/index.php?threads/tm-hardship-fund.4021/

Here it is. Thanks, mr k.