Alex Daisy Posted June 20, 2011 Posted June 20, 2011 The Plan's LOAN PROCEDURES state that The loan will become payable in full on your termination of employment. Does the Cure Period apply here? The cure period is stated on the Plan's LOAN PROCEDURES Could the terminated participant pay it back with 90 days and not be in default? Does the cure period apply to both active and terminated employees? Even if the loan pocilty states "will become payable in full on your termination of employment."
Bird Posted June 20, 2011 Posted June 20, 2011 Could the terminated participant pay it back with 90 days and not be in default? As far as I'm concerned, yes. The amount due is a lot more than a regular payment, but I don't see why it wouldn't be eligible for using the cure period. Ed Snyder
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