Can you get your 401k loan deposited into your checking account, or do you have to wait for a check?
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I know it's a bad idea but I am all out of choices so please no reprimanding:) But I had previously taken out a loan against my 401 k. Well I just sent a check to pay it off. And through prudential I do not have to wait a grace period to take out another loan. So I have spoken with a representative and as soon as my check goes through I can take out another loan equivalent to half my 401k. I forgot to ask her though, can they deposit the money straight into my checking account, or do they have to mail a check? I was wondering if anyone could help me out with this question. Also if I make a claim about how long does it take to actually receive a check. For the life of me I can't remember from the last time. Thanks in advanced
