Americans are borrowing huge amounts of money from their 401(k) retirement plans — and then having big trouble paying off their debt, according to a new study.
Tuesday, July 17, 2012
Americans borrow heavily from 401(k)s but loan defaults are up
The default rate on 401(k) loans hit 17.4% in the 12 months through May, compared with 9.7% in mid-2008, before the financial crisis.
Americans are borrowing huge amounts of money from their 401(k) retirement plans — and then having big trouble paying off their debt, according to a new study.
Americans are borrowing huge amounts of money from their 401(k) retirement plans — and then having big trouble paying off their debt, according to a new study.
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