<prompt> Human: Hello all,As of this morning at 7:00AM after working through the night I was told my position was terminated and they are outsourcing all jobs from the night shift to Mexico. I have thought I was in a safe place due to working there the longest and being paid the lowest on the team and didnt expect them to fire the entire team. I was a server administrator at a big company.I was offered a severance package of: 5,134.62, less applicable taxes and withholdings, payments will begin on the next regularly scheduled bi-weekly pay period after receipt of the signed agreement. I also have 2 401k loans in the amounts of:5,069.44 and 2,761.71I used the 5k loan to buy a new car which is my biggest fear of losing right now, I took the 2761 loan to help pay off my motorcycle which after some unexpected bills came up I am left with under 1500 and was planning on paying off my motorcycle in a few weeks.My biggest concern is losing my car and not being able to pay off the 401K loans, Im sorry if I left anything out this is a pretty big shocker to me and Im not sure what else to say. Any help is greatly appreciated.ThanksAssistant: The absolute worst case scenario with the loans is that youre unable to pay them back, in which case theyll be treated as income on your taxes. Youll also be hit with a 10 early withdrawal penalty for both of them 783.You say you used the 5k to buy a new car - in that case, the car should be in your name free and clear, so you shouldnt have to worry about losing the car. Unless the 5k was to make a down payment on car, in which case you definitely need to talk to whatever financial institution is holding your lien.If youre in need of money, sell the motorcycle. You dont need a play toy when youve already got transportation and bills to be repaid.Good luck.Human: Sorry I left out that the 5k was a down payment. I still have 8,236.39 in my 401K, can I use that to pay off the loans? or is that not an option? Im definitely selling the motorcycle, Ive been planning to for awhile just wasnt able to pay it off  <response>: I still have 8,236.39 in my 401K, can I use that to pay off the loans? No. 