Personal Finance & Money Stack Exchange
Personal Finance & Money Stack Exchange

Questions tagged [default]

52 questions
14
votes
3 answers

What exactly is a credit default swap?

I hear a lot about credit default swaps (CDSs) and I do not really know what they are. Can you please explain it to me? What are they good for?
gyurisc
  • 2,448
  • 1
  • 17
  • 25
12
votes
3 answers

If you buy a new home before selling the old one, what could happen from not paying the old mortgage?

I'm researching the process of selling a home and buying a new one. Several articles warn against buying the new home before the old one is sold because you may end up having to pay two mortgages. I'm wondering why one would continue paying the…
Ben Williams
  • 255
  • 1
  • 5
10
votes
5 answers

What happens if I just don't pay my student loans?

My friend said she never pays her student loans and nothing has happened. She's been out of school for a couple years and is only employed under the table and doesn't have a bank account. If I don't work "officially" and I don't maintain a bank…
user44272
  • 147
  • 3
9
votes
3 answers

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, he told me he is going to default on the…
rest_day
  • 437
  • 3
  • 7
  • 13
9
votes
2 answers

Payment Dispute, Is it worth it?

3 years ago I cancelled my T-Mobile account. I was charged a $250 cancellation fee, plus the amount due at the time, totaling $376.53. Recently I was contacted by a creditor saying I owed T-Mobile over $150 dollars, I was able to track down the…
jsmith
  • 193
  • 5
8
votes
3 answers

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 that is (very) likely to happen in Greece (or other…
ano
  • 83
  • 1
  • 5
7
votes
3 answers

What happens if I don't pay my rent while my lease still has time to run?

I had to move to a new apartment. My current lease is not up for 8 months. In order to terminate my lease early, the contract states that I must pay $1,000 plus the normal rent until a new tenant is found. With this $1,000, they will look for a new…
Evorlor
  • 259
  • 1
  • 4
  • 10
6
votes
4 answers

If I were to get into a life situation where I would not be able to make regular payments, do lenders typically provide options other than default?

Lets say I had a home loan and suddenly lost my job. I have a few months savings, but for whatever reason am aware that I will not be able to make regular payments and will default on my house if I can't agree to do something else with the bank. For…
Sidney
  • 468
  • 3
  • 11
6
votes
1 answer

If I default on a debt is the effect on my credit score the same regardless of the amount of debt?

If I default on a debt is the effect on my credit score the same regardless of the amount of debt? For example if I default on a few hundred dollars of medical debt would that effect my credit score less than defaulting on a many thousands of…
Freiheit
  • 8,772
  • 3
  • 44
  • 65
6
votes
4 answers

Job transfer with a house I can't sell. How should I handle it?

We have a house with a 180k 1st mortgage (Huntington) and 55k 2nd mortgage (PNC). Each is from a different company. The house just appraised at 190k. I'm being transferred by my employer from Michigan to Texas. I have decided to keep my job and…
Chris Phelps
  • 61
  • 2
6
votes
2 answers

Effect of country default on house prices?

What effect would a sovereign default of a European country (i.e. Italy/Greece) have on house prices of the same country that goes in default? What does the previous literature says about similar cases? (i.e. Argentina) I heard that a country…
Marco Demaio
  • 873
  • 8
  • 21
6
votes
6 answers

How credible is Stansberry's video "End of America"?

So, I stumbled upon this a couple of days ago. I've shown it to several friends. I have no idea what he is advising we do about it, I haven't paid him any money, and he doesn't pay me. What I really want to understand is, is this something that…
boatcoder
  • 893
  • 9
  • 13
6
votes
2 answers

Is Mexico on the verge of defaulting on parts it’s national debt before Andrés López Obrador take office?

All bonds issued by Mexico with maturity scheduled for 2018 are traded at a huge discount of their face value. I mean whatever currency or stock exchange used here’s an example : For reference, they are traded at only ¼ of Venezualian bonds…
user2284570
  • 159
  • 11
5
votes
1 answer

Remedies for Defaulting on a 401(k) loan

I changed employers and am unable to pay back my 401(k) loan within the 60-day period allowed. I realize this will default the loan and I will receive a 1099-R, have to pay taxes and penalties. The rub is that I will have money sufficient to cover…
Crystal
  • 51
  • 1
5
votes
5 answers

How can one be financially devastated by unsecured debt?

My question is theoretical, I don't understand why people say that big piles of debt are dangerous. If one has a lot of unsecured debt and ends up defaulting on it then one does not even have to declare bankruptcy and part with one's assets. What…
sequence
  • 227
  • 1
  • 8
1
2 3 4