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Rock and a hard place.

heyitsthatguy91
Regular Contributor

Rock and a hard place.

Does anyone know how to obtain a hardship withdrawal on your 401K? I am not eligible for a loan.

I have a month left on my apartment lease. I owe $950 for this month and $95 for next month (paid first and last months already).

Or maybe someone knows a better way to go about this.

I was able to pay $200 the first of the month this month (total rent is $1,050, late pay fee is $100). The landlord agreed to split it up into the 2 payments. However with all of these winter storms here in the PNW, work has been shut down and now my paycheck will be short due to that. I can pay everything on the 1st of March but I’m sure it will go to eviction.

Is it better to let it go to evictions? I don’t think I would get the money in time (the 15th of this month) even if I did a hardship withdrawal.

Any help and suggestions are greatly appreciated. I can provide more info if needed.

Thanks, Josh
Message 1 of 13
12 REPLIES 12
CreditSweeper
Established Contributor

Re: Rock and a hard place.

You have one month left on the lease and then it’s final and you’re moving out?

Either way, I’d talk to your landlord and explain your situtation. If you can pay in full by March 1, that’s really not that far away. Landlords don’t want to pursue eviction any more than tenants want them to.
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Message 2 of 13
heyitsthatguy91
Regular Contributor

Re: Rock and a hard place.

Yes that’s correct. End of March and the lease will be fulfilled and I will be moving out. Ever since the government shutdown I’ve been having late rent. The issue is that the apartment complex is corporate owned rather than renting from an individual. They don’t want to budge.
Message 3 of 13
CreditSweeper
Established Contributor

Re: Rock and a hard place.

IMO, I’d still inform them of your situation and make a promise to pay by March 1. I really can’t see them starting the eviction process prior to then. Just be candid with them.

Maybe throw them a couple hundred as an act of goodwill prior to March 1.
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Message 4 of 13
CreditSweeper
Established Contributor

Re: Rock and a hard place.

As for a 401K withdrawal, you’ll need to contact your plan administrator and see what provisions your plan offers.

Realize that you will likely face a penalty for early withdrawal.
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Message 5 of 13
heyitsthatguy91
Regular Contributor

Re: Rock and a hard place.

Well I told them what I was able to do and they are not willing to work with me. Whether I make a late payment or none at all.

 

If they send me to evictions and I pay it before the court date, wil it stil go on my record?

Message 6 of 13
CreditSweeper
Established Contributor

Re: Rock and a hard place.

Sorry to hear about their lack of cooperation.

Check the landlord tenant laws in your state for information on evictions. What state are you in? It’s not uncommon for states to have provisions that require the LL to serve you notice for failure to pay. Once that notice is made, payment must be completed within X number of days or you must vacate the unit.
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Message 7 of 13
heyitsthatguy91
Regular Contributor

Re: Rock and a hard place.

I'm in Washington State.

 

I will look at my state tenant laws in regards to the evictions process.

 

Thank you for your help and advice.

Message 8 of 13
CreditSweeper
Established Contributor

Re: Rock and a hard place.

Looks like Washington is a 3 day notice to pay or vacate, if I’m reading it correctly. Failure to do one or the other within 3 days of the formal notice from the LL will allow them to begin eviction proceedings.

Have you been served notice yet?

Hopefully someone with a bit more experience with WA laws can help you out. Best of luck though.
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Message 9 of 13
heyitsthatguy91
Regular Contributor

Re: Rock and a hard place.

I entered into a payment plan. Today is the due date for the last payment on that plan. I have not been served a notice yet.

 

While reading through the laws, it says if I vacate, they can no longer evict, but can sue for the remaining amount. But I literally just need until march 1st. I dont know why these big communities nowadays dont have a human heart and understand things happen.

 

I would have left last month but apparently I do not have a lease breaking clause in my contract. Thus, I could leave but would still be held liable for the remaining months of my lease agreement.

Message 10 of 13
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