"I imagine most people with 401k's do have access to credit. Am I wrong?"

Yes. Low-paying jobs at Wal-mart and Lowes and some gas stations offer a 401k. The contributions are tiny because the checks are tiny but the company usually contributes as well. These folks aren't as likely to have access to credit.

I'll put this as well: If you are looking to take $500 from your 401k outside of those groups, I'm gonna guess things have gone horribly wrong. Getting a new credit card might be a bit tough because your credit is probably already showing the hurt.

Plus the fact that to a person with cash difficulties going to their 401k to get money wouldn’t be easy. Even if you can find someone to help you they’re going to mail you a cheque some time in the future. Hence the success of pay day loan operations that are more than happy to help you out with that immediate $500 emergency.

Hmm I didn't know Walmart offered company-matched 401k. In that case, if they have contributed there at least $100 (which I think should be possible with company match if you work fulltime) for a year, there should be enough money to take a loan of $500 AFAIK.

> If you are looking to take $500 from your 401k outside of those groups, I'm gonna guess things have gone horribly wrong

Yes, probably, but the question was is it possible, when the things go horribly wrong. I still think if you have 401k that should be possible.

They actually have the most generous 401k plan of any company I ever worked for- a dollar for dollar match up to 6% of pay, with no cap. It also vests immediately.