For those whom took the VSP or impacted by ISP, what happened to your 401k loan?
Did you have to pay the balance remaining immediately or did Fidelity Investments allow you to continue making biweekly payments?
2 replies (most recent on top)
Hi there! I wasn’t apart of the VSP but left voluntarily last year, with an outstanding Fidelity loan. From my experience, they don’t just take the full amount owed back out of your 401k…Fidelity set me up on a monthly payment plan (1x payment per month).
Per Fidelity chat today: You can repay back the loan via recurring monthly direct deposit payments or you can pay the loan off in full at any time. The loan payment would change as well since it would be moved to monthly payments.