Tuesday, November 3, 2009

Debt, Retirement, And 5 Stocks You Should Buy As Prices Drop

- Times can be rough right now for some people and companies with bankruptcy. If you think that you or your company may have it bad with debt, take a look at this article and how people are punished for bankruptcy abroad:

Dubai: Yes, you can go to jail

In Dubai, if you don't have enough cash in your account to cover the check in any given month, watch out: The bank can get a warrant for your arrest, and you can be jailed, Rhode said. Those in default also can have their passports seized, preventing them from leaving the country.

Germany: Bankruptcy is a teachable moment

In Germany, as in most European countries, creditors could turn to specialized public debt collectors to try to get defaulters to pay. These collectors might hold public auctions of one of the debtor's few possessions -- a sofa, say -- which often brought in so little money that the auction costs weren't even covered, let alone any part of the debt, Kilborn said.

...Germany, however, views its six-year repayment plan as a chance to educate consumers about responsible money management, Kilborn said. If the debtor follows the rules of the plan, his or her debts are wiped out after six years even if not a single payment is made to a creditor -- and typically, none is.

India: Bands of thugs and public shaming

There is no system, formal or informal, for helping people resolve their consumer debts in India, Kilborn said.

A growing middle class and a rise in the availability of credit haven't led to any kind of mediation system for people who can't pay. Instead, even legitimate lenders may turn to bands of thugs to enforce debts or use public humiliation, such as demonstrations outside the defaulters' homes.

- Have you ever wondered how the US compares with other countries in retirement? Well the Melbourne Mercer Global Pension Index has ranked countries based on the adequacy, sustainability, and integrity of their public and private pension systems. It turns out that we are ranked 6th out of the 11 countries examined.

- Here is an article on the 5 stocks that you should buy as prices drop. It has great tips on long term investment that have great potential on being successful.

So in closing Portland, what are your thoughts on debt, retirement, and the stock market? And do these articles change your opinions on these subjects? Please leave your comments in the section below.

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