401k loan appear on credit report?

Guest 0.10 Dollars($)

i have a question, does a 401k loan appear on the credit report, is reported to the credit bureaus?

blue · Posted: Wed Feb 21, 2007 2:35 pm Post subject:

Hi Pryor,

Welcome to Mortgagefit discussion board.

A 401k loan is not reported to the credit bureaus. But if you apply for a mortgage it will be asked if you have taken any such loan. The lenders normally count a 401k loan as part of your debts while considering your loan application.

Do let me know if you have any other questions.

Thanks
Blue

Guest 0.10 Dollars($)

So, if i default on a 401K loan that means it will not reported to credit agencies.

jerry · Posted: Fri Feb 23, 2007 4:32 am Post subject: RE:

Hi More_info,

The default on a 401K loan will not be reported to any of the credit reporting agencies. It will also not affect your credit rating.

Thanks,
Jerry.

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