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8
votes
3answers
3k views

Defaulting on credit cards before leaving the country

I have a colleague who is going back to his country after staying for a couple of years in US. He has 3-4 credit cards plus a personal loan. His total debt would come to around $10,000. Some days ago, ...
1
vote
1answer
74 views

What happens after a counterparty defaults on a derivative trade?

I understand that counterparty risk, or the risk of the counterparty defaulting when they lose on a bet, is inherent when trading derivatives. My question is what happens after they default? Is there ...
8
votes
3answers
2k views

How can a person protect his savings against a country default?

I'm a middle-class citizen, currently living in a EU country (Greece in my case). How can I protect my little savings (that I currently have in a Greek bank) against a country default, like the one ...
3
votes
2answers
573 views

What are the laws or rules on 401(k) loans and switching providers?

So here's the situation. My employer is switching 401(k) providers. I believe they outsource payroll and employee benefits to Benefits Company A. They want to switch to Benefits Company B. I ...