How do I pay back a defaulted loan against my retirement account?

A loan that has reached "default" status and has become a deemed distribution must be paid back in full (plus any interest) before any additional loans can be issued from your retirement account. At this stage, GuideStone can only accept payments made as a single-sum in the form of a cashier's check or money order. Monthly installments or payments made with a personal check cannot be accepted.

Please note that the defaulted loan balance is still considered a taxable event.

If you are ready to pay off your defaulted loan balance in full, we'll need to calculate your new balance for you. Please feel free to contact usby phone or by email to request this, and please allow our Benefits department a few business days to take care of this and provide you with instructions.

Was this article helpful?