TSP Loan Time frame

[AELEE]

I recently submitted my loan request via fax. I did the process online and due to being married had to have my spouse sign it and have everything notarized. This was all done prior to being faxed. On average, how long does it typically take to, 1. Find out if the loan was received/approved/processed? and 2. For the funds to be disbursed to checking account annotated on section IV of pg2?

 

[burrocrat]

14 days round turn, from leave your hands to treasury check in your mailbox.

 

[AELEE]

What about it is direct deposit to checking account? That was my main question.

 

[jpcavin]

What about it is direct deposit to checking account? That was my main question.

3-4 days

Go to tsp.gov and look at your Outstanding Loan Status. Look for date issued. You should see the money deposited to your account within a few days. I took a loan out in 2013. It was issued on 1/31(Thurs) and I saw it in my bank on 2/4(Mon).

 

[burrocrat]

let me know how that time frame works out for you. and if it is direct deposit off a faxed notarized signature from a (?former?) spouse.

not trying to pee in your wheaties, i just have an idea about how this game works.

sometimes you can get screwed by your ex spouse. and sometimes your spouse will screw you. that is one of a very few games i have not figured out how to figure out. good luck. let us know.

 

[AELEE]

Current spouse, that is being divorced but we are on good terms. It was mutual. Spoke with him about it and he agreed to sign it for me. It was submitted via fax today (27OCT2016) around noon time. So we shall see how long it takes.

 

[AELEE]

Update. I checked this morning and it showed that my paperwork had been received but that it would take 7-10 business days to process. Will keep this updated on timeline.

 

[chicla74]

What about it is direct deposit to checking account? That was my main question.

5-7 business days.


Sent from my iPhone using Tapatalk

 

[jpcavin]

Update. I checked this morning and it showed that my paperwork had been received but that it would take 7-10 business days to process. Will keep this updated on timeline.

So how long did it take to show up in your bank account? :thinking: