Debt crazy

[sparkle12]

I posted this in another forum and received no replies so I decided to post in this forum hopefully with some response. I'm trying to get used to your system so please forgive me in advance for the duplicate posting. Here goes....

I am a resident of Virginia. Recently my family has experienced the loss of two family members due to violent murders. Since March I have exhausted all of my savings and maxed all 3 of my credit cards to pay for lawyers (custody of two minor children) trips back and forth to Texas (the state where the murders occurred) and other expenses incurred due to this tragedy. I have over $30K in a 401K plan at work that I have used all loans withdrawals etc. How can I get to the remaining funds so that I can avoid bankruptcy. I was able to make a withdrawal to save my home but because of a variety of circumstances (loss of child support being one) I have continually fallen behind on all of my bills. I hate the fact that I have this money in my 401k but I can't get to it. I am also one of your members who have fallen into the payday loan trap. currently I owe $1700 dollars (principal not including their fees) in loans. I have more than enough to cover that in my 401k but I am ineligible for additional withdrawals. I have taken the max on regular withdrawals, loans and hardship withdrawals and still I have over $30K (almost my annual salary) that I can't touch. If I was able to receive only 1/3 of the funds I would be able to get back on my feet and stop the day to day struggling that I have to do now. What are my options to get the money out if their are any? I can't borrow any more from family and friends and my credit is shot to $#@! because of an ex husband (who by the way owes close to $20K in back child support). Please advise with any solutions you may have.

Thanks,

 

[chinabloo]

Anxiously waiting to find out what someone tells you..... I'd love to find a way to get to the rest of my money too.

 

[DQuicke]

Firstly, sparkle12, I am very sorry to hear about the recent deaths in your family. A member of my family was murdered once. I offer my condolences.

Secondly, aside from withdrawing the money from your 401k plan, there should be a way to liquidate it completely. Usually 401k plans offer this service, but with a tremendous loss incurred by the payee. I noticed that you mentioned only needing a third of that money. Your situation seems to be one of urgency, and you might want to check into this. (I think you might only receive your portion of the investment and not the company's, and as well, you will be hit with an expensive early liquidation fee. Have you tried other forms of money lending, perhaps a low interest loan or debt consolidation company. Hope that this will be of assistance to you. Once again, I'm sorry for your loss.