401k distribution

[anonymous_saver]

I would absolutely not take a loan from your 401(k), even in your situation. I would have that directly rolled over into a Roth IRA, that you will not touch until retirement. Seriously. You would be losing thousands of dollars just to get a partial fix on some current issues. I think you could do better with your current situation first.

No, $75 a week is not realistic for all of the things involved. I still think you need to write a list of all your debts (with interest rates, payments, etc.), your take home pay, and other expenses. I think it will really come down to selling your home. I don't know what you earn, but that's a pretty big mortgage to handle on one income in your situation. I hope you are able to share more details so we can assist you more specifically.

Thanks and good luck!

[disneysteve]

I would absolutely not take a loan from your 401(k), even in your situation. I would have that directly rolled over into a Roth IRA

I wanted to clarify this. You would rollover a 401k to a rollover IRA, not a Roth. If you wanted to convert your 401k (pre-tax dollars) to a Roth (post-tax dollars) you would have to pay taxes on the money first.