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Would you take a hardship loan with this penalty

We are behind in our rent and our paychecks will pay this month but next month will also be late. My landlord hasn't given us an eviction notice yet but I'm sure he's thinking about it. We started having major problems when my husbands back went out in October and we haven't been able to recover from it. Even with him back to work full time. Anyway, I can take a hardship loan from my 401k but they would take 10%, I would have to report it with next years taxes as income and neither myself or my company can contribute to my 401K for 6 months. Normally, I would say no but this is a real delimma for me. I applied for a refinance on my 401k loan but it seems to be a wait issue since we just moved companies. What do you guys think?

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Asked by Anonymous at 1:22 PM on Mar. 26, 2010 in Money & Work

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