TSP loan stuck in limbo

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michigande
Posts: 110
Joined: Mon Feb 13, 2012 5:51 pm

TSP loan stuck in limbo

Post by michigande »

Last month I took out a loan against my account to pay off some high interest credit card debt. Prior to that I had to enter my bank account as a financial institution and in doing so I correctly entered the routing number from a check, but when entering the account number I mistakenly included the 4 digit check number.

Days later with no money arriving, but with the loan appearing as “active” in TSP as of 9/6, I realized what had happened. I looked at my TSP financial institutions and it displayed my account ending in the 4 digits of the check, not my account’s last 4 digits. Since I apparently entered too many digits it must’ve chopped off the first 4 digits I entered and accepted the last 4 (major problem?).

My first call to them we fixed the account number and they said the money went to treasury for disbursement, therefore they could not see it. My bank said that since the account number wouldn’t match the name the money would be bounced back to where it came from. I’ve called TSP almost daily since 9/14 with zero results. Their supervisors tell me they sent high priority tickets to “operations,” but can’t even themselves talk to a person there who’s involved in getting my money back and certainly can’t put me in touch with anyone.

Recourse anyone? Somewhere at treasury to call? Thanks for reading this far!

michigande
Posts: 110
Joined: Mon Feb 13, 2012 5:51 pm

Re: TSP loan stuck in limbo

Post by michigande »

I spoke to treasury just now, they sent my money back on 9/12 to TSP, but it’s obviously not in my account. Frustrating, it’s not invested AND I don’t have access to it!

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bloobs
Posts: 1436
Joined: Tue May 21, 2019 8:00 pm

Re: TSP loan stuck in limbo

Post by bloobs »

michigande wrote: Fri Oct 21, 2022 2:41 pm I spoke to treasury just now, they sent my money back on 9/12 to TSP, but it’s obviously not in my account. Frustrating, it’s not invested AND I don’t have access to it!
Hmm, yet another Accenture Federal rollout issue it seems.

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mjedlin66
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Posts: 1513
Joined: Wed Oct 02, 2013 7:51 pm

Re: TSP loan stuck in limbo

Post by mjedlin66 »

This sounds miserable. Unfortunately I don't have anything to offer but condolences.
Owner/creator of TSPcalc.com - "Know your numbers"

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Fund Prices2022-11-25

FundPriceDayYTD
G $17.17 0.02% 2.59%
F $18.31 0.13% -12.35%
C $61.66 -0.03% -14.29%
S $65.01 0.27% -22.09%
I $34.21 0.59% -13.27%
L2065 $12.68 0.23% -14.82%
L2060 $12.68 0.23% -14.81%
L2055 $12.68 0.23% -14.80%
L2050 $26.21 0.20% -12.70%
L2045 $12.06 0.19% -11.82%
L2040 $44.40 0.18% -10.84%
L2035 $11.84 0.17% -9.77%
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Linc $22.97 0.08% -2.17%

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