getting a loan out on your 401K

[snoop01]

I was wondering what everyone's overall thoughts were on getting a loan on an 401K.

I was thinking about getting a loan out on my 401K for 11K and paying off a credit debt, then switching my other 4K in debt to an interest free CC for such and such amount of time. The 11K would be paid back through a standard payroll deduction at around 240.00 a month for 5 years. What are everyone's thoughts on this subject.

[spex x]

You might have more luck in the F&I forum.