Avoid Debt – Advice on avoiding debt & bad credit issues

Foreign Exchange 101

August 31, 2010 by · Leave a Comment 

Whether it is the dollar, peso or rupee, nearly every country has its own currency in order to give and receive money within its own borders. However, foreign currencies are also required in order to purchase and receive money across international borders. This is where forex trade comes into the picture.

Foreign exchange transactions — exchanges of one currency for another — are required for international business transactions. Foreign exchange dealers including forex brokers, banks and individuals are engaged in active trading around the world. In the forex market, investors purchase one currency while selling another.

Considered the world’s most traded market, the global foreign exchange market has experienced exponential growth over the years. In 1998 alone, global turnover of reporting dealers was estimated at about $1.49 trillion per day for the traditional products, according to the Federal Reserve Bank of New York. To learn Forex trading, please Visit ForexCurrencyPro.com.

Protecting Your Identity and Finances from Theft

August 31, 2010 by · Leave a Comment 

Recovering from a stolen identity is not an easy task. Identity theft can be in several forms – stolen information or stolen credit card details, the end result is still the same: unexplainable debt.

Identity theft is one of the most rampant crimes in the United States, with 900,000 cases reported each year. What’s worst is that in some states, there are no laws to prosecute people guilty of identity theft. And, it isn’t like a house robbery wherein a victim can report to the police in 24 hours. It usually takes months to a year before a person is even aware he or she is drowning in debt that he or she did not even know about.

Think of the inconvenience of having your identify and finances stolen. Here are ways you can protect yourself from identity theft.

Be assertive and annually check your credit reports. This is how you’ll know if there’s something wrong. The three major credit bureaus are Experian, Trans Union, and Equifax. Contact them to get a copy of your credit report every year, and read them carefully for any suspicious findings. If you encounter some inaccuracies, have these reported the soonest possible time.

Keep your Social Security Number to your self.

Never give this out, even to bankers on the phone. You have the right to not give it out even when companies say it is for mere records. Ask if you can give them another identification number, such as a driver’s license number. Do not store your SSN in your wallet, or your cell phone. Memorize it, and do not write it anywhere.

Remember your billing cycles.

Know when your payment for a utility is due, and understand the bilking cycles of your credit cards.  Expect your bills on time, and if any is late, inquire immediately with the issuing bank. This is because bills could get delayed if someone has called in to change information. This could be someone who has stolen your identity and is using your credit card illegally.

Why total merchant services are required

August 25, 2010 by · Leave a Comment 

There is no doubt that this is the age of the Internet and it is difficult to imagine living without it. There are many different components that are responsible for the smooth functioning of this medium. One of the crucial components that help businesses to function online.

Basically,total merchant services allow businesses to accept payments online. This is important when you consider that being online means catering to a global market. In the past this meant establishing overseas offices and accepting payments by money order or check. If this method had continued the Internet as means of business would have died quick and painful death.

Fortunately merchant services and the ability to accept credit card payments changed things around. Of course, merchant services were not the responsible part for bringing credit payments to the Internet, but they were one of the crucial players who took away the risk of dealing with fraudsters online. The other thing they did was provide ready made tools for online vendors. Previously, all vendors had to develop their own tools, handle payments etc. This was cumbersome and error prone, which made those early purchasing days fraught with danger. The ready made tools made things easy and cheap to implement online selling on websites.

Merchant services will also provide you with all the equipment necessary to conduct transactions. This includes credit card processing equipment which handles credit & debit card transactions as well as gift card and other similar types of transactions. This type of versatility will allow any vendor to stop worrying about how to accept money and focus more on promoting and selling their product.

5 Important points to remember during debt settlement

August 19, 2010 by · Leave a Comment 

The number of people having problem with credit card and other debts are increasing regularly. Debt collectors have to file hundreds and sometimes thousands of lawsuits every year to collect money when most of these debts could be collected without litigation. If you are a financially stressed debtor looking for settling your debts through a debt settlement company, then read on to know the 5 points that you should remember during the process.


1.Debt settlement affects your credit score: If you are keen on settling your debts through a debt settlement company, then consider the effect that it has on your credit score. Debt settlement affects your credit score in a significant way and therefore, this process is best considered when you have no other option but to file bankruptcy.

2.Savings through debt settlement can be taxable: Whatever amount you save through debt settlement will be subject to tax. If you owe $20,000 and you end up paying only 50% of the amount, then you save $10,000. This savings will be considered as an income and it will be subject to tax by the IRS. Thus you may feel that you can save a huge amount through debt settlement, but actually the savings become taxable. So, beware of the tax limits.

3.Know the new debt settlement laws: Be well informed about the recent debt settlement laws so that you are not cheated by the debt settlement companies. After the new debt settlement laws, the companies can no longer subject you to upfront fees. This new law goes into effect October 27, 2010. They can not even charge late fees due to no-payment to creditors. Take into account the new laws to safeguard yourself.

4.Check your credit report throughout the process: As you are making regular monthly payments to the debt settlement company, you are totally unaware whether or not the company is making timely payments to your creditors. To check this get your credit report and check if the payments are made on the credit report.

5.Write a debt settlement letter: If you are considering do-it-yourself debt settlement, then it is necessary for you to write a debt settlement letter to your creditor, mentioning the amount you offer to pay and the time required for you to pay.

Thus, before considering debt settlement, take into account the above mentioned points throughout the process.

Forex Megadroid: A Robot That Works

August 18, 2010 by · Leave a Comment 

Many forex traders feel that it’s impossible for a forex robot to come close to the results that a live trader can produce. In truth, there is some validity to this belief — when it comes to reacting quickly to market changes, in many cases forex traders can make better decisions in real-time than robots can. Being able to take in news and analysis from leading forex news sites like fx360 gives the human trader a competitive advantage.

However, there are exceptions to this rule. One of the major breakthroughs comes from Forex Megadroid. This robot was designed by experienced online forex traders and is one of the most accurate robots in the industry. It boasts a 95 percent success rate thanks to its unique Reverse Correlated Time and Price Analysis algorithm.

Another benefit of using Forex Megadroid is that it is invisible to other forex online traders, helping you avoid having your trades be blocked because you are using a robot.

What are forex brokers?

August 16, 2010 by · Leave a Comment 

Foreign exchange trading is a complicated business to get into. For a beginner it can be very tricky and getting help would be the ideal solution. This is where forex brokers come into the picture. However, finding good forex brokers is as hard as finding good stock exchange brokers.

The last statement is simply a reflection of how many fraudsters and conmen are out there. When choosing a currency trading broker, it is essential that proper steps are taken to verify their authenticity. In the U.S., membership to certain accredited organization will show that the broker is legitimate and accountable. Similar organizations exist worldwide so be sure to contact one of them to understand the process of hiring a broker.

What you get with a broker is a certain safety factor. They know more than you do and all you have to do initially is give them the money to do the trading. Although this is a very simplistic way of looking at it that is what happens in the process. Working with a broker can help you learn about trends and methods of trading. Although you could sign up for a forex signals service, this can be tricky to handle without experience.

You broker will take a small commission from you, but that is solely based on the amount being traded. Other than this the broker will not and should not levy any charge. If you are not comfortable with the person you have chosen to be your broker, feel free to change them. When you are investing money, it is important that you feel as comfortable as possible.

Using forex signals and other tools

August 13, 2010 by · Leave a Comment 

Forex trading is an art in some ways and one can never learn everything about it completely. Beginners almost always feel lost when they get into it, but fortunately there are tools out there that can help them. Tools like forex signals and Expert Advisors are some of the easiest to use.

In very basic terms, forex signals are messages from big forex traders telling you when to buy or sell currency. This seems like a godsend to beginners because it is very easy to act on such messages and forget about all the hard work that goes into trading. But the problem here is that not all signal providers are above board. Quite a few are scammers, many are inaccurate and only a very few are on the ball. For a beginner, distinguishing between these different types is difficult; in fact even experienced traders have trouble picking them as well, so caution is advised when using such a service.

Expert Advisors are forex robots that function online. They monitor the forex factors and perform several functions. These robots can be set up to trade on your behalf automatically, so it can be more of a set it-and-forget it scenario; this can go wrong sometimes and it also means that the trader is not learning anything about the trade. When engaging in trading forex online, using an EA can prove to be very beneficial, but these also face the same issues that forex signals face. The only robot that is widely accepted to be successful is forex megadroid. It has encountered a decent success rate and offers a money back guarantee as well.