Kurtis Finance Loan Blog

How will forex trading help you in debt settlement?

2009-12-29T22:40:00.000-08:00

Debt settlement is a debt help option that is regarded as an alternative to bankruptcy. So, its importance cannot be undermined. It is a debt reduction process in which your total outstanding balance is reduced considerably. This is usually done with the help of a debt settlement company. You don’t make payments to the creditor for sometime. Instead you make payments into a trust account. Since you stop making payments directly to the creditors, your credit score drops remarkably. However, it improves again once you start making payments again.

When you enroll for a credit card settlement program, you accumulate sufficient cash in the trust account so that negotiation with the creditors can begin. If the debt settlement company is efficient enough, it can convince creditors to reduce at least 40% to 60% of the total amount you owe. So, before you hire the services of a good debt settlement company, make sure it is a member of TASC or The Association of Settlement Companies.

How will forex trading help you in a debt settlement program? There are many debtors that have an investment portfolio that help them to enjoy good returns. FX trading is basically trading currencies in pairs. The chances of earning profits are very high in the forex market. This is because if the value of one currency drops the value of the other increases. So, the profits you earn from the FX market can be used to make payments for your debt settlement program or for paying fees of the debt settlement company. In this way forex trading can help you to settle your debts in a hassle free manner.

You can improve your chances of earning profits from the forex market if you make optimum use of the technical indicators used in the FX market that predict movement of the market. Some of the technical indicators widely used are Bollinger Bands, Stochastics, Elliot Wave theory etc. You can also trade better if you take help of a forex broker.

Bad Credit Personal Loans

Judge Rejects SEC, BOA Settlement

2009-10-05T00:03:00.000-07:00

Judge Rejects SEC, BOA Settlement

http://www.bloomberg.com/apps/news?pid=20601103&sid=aV_seqtKav9A

The US Securities & Exchange Commission (SEC) is weighing options after a judge rejected its $33 settlement with the Bank of America. US District Judge Red Rakoff has refused to accept a settlement resolving SEC’s claims against the Bank of America that the latter deceived its shareholders about the bonuses paid to Merrill Lynch staffers. The judge said the settlement appeared to be penalizing the company shareholders for the wrongdoing committed by the executives. The aim appears to be a quick resolution of the enquiry while providing SEC with a façade of enforcement, the Judge said. Since the Bank of America neither accepted nor denied the charges, why was it ready to pay $33 million, the judge asked. There is need to name the individual executives and the lawyers involved and penalize them rather than the innocent shareholders, Rakoff said. The SEC may have to file a new lawsuit or push the case to a trial.

Is The PC Back In Business?

2009-09-21T23:40:00.001-07:00

Is The PC Back In Business?

http://www.msnbc.msn.com/id/32595222/ns/business-us_business/

Intel reported an improved guidance for the third quarter. The company has cited a strong demand for its chips. What does this mean for the PC market? Does it indicate that the consumer is back in the store?
Not quite. Much of this increased demand is from PC manufacturers restocking inventories after allowing their stock levels to drop much below normal levels as a cost cutting measure. PC manufacturers are indicating that some end use consumers are venturing back into the market, but the corporates are still holding back. Spending on technology upgradation, a key area which has witnessed significant cost cutting is not expected to rise sharply very soon. Till then, which is sometime next year, the PC industry is expected to continue its struggle.

US Deficit to Top $1.58 Trillion this year

2009-09-06T23:31:00.000-07:00

US Deficit to Top $1.58 Trillion this year

http://www.thestar.com/business/article/686446

The White House has predicted that the US government will face mounting debt and exploding deficits over the next few years. The cumulative budget estimates for 2009-19 now stand at $9 trillion, $2 trillion more than the earlier estimates announced in May. The public debt is now expected to double by 2019 and surge to three quarters the size of the national economy. Congressional budget analysts have said that the current year’s deficit is likely to top $1.58 trillion and a mix of lower spending and increased tax revenues is essential to improve the fiscal situation. The unemployment level is expected to surge to 10% this year with a gradual decline expected next year. The US economy is now expected to contract by 2.8% and expand by 2% in 2010.

US, UBS Deal To Limit Secret Bank Account Option

2009-08-23T23:51:00.000-07:00

US, UBS Deal To Limit Secret Bank Account Option

http://www.reuters.com/article/newsOne/idUSTRE57B4AA20090812

The agreement between the US tax authorities and Swiss banking giant UBS AG for the settlement of a tax evasion case is likely to limit the secret bank account options for the US taxpayers. Although the details of the agreement reached between the two parties have not been revealed, experts believe that it involves the disclosure of thousands of names of US residents who have used secret bank accounts to conceal assets. However, Swiss bank secrecy laws are unlikely to be breached with this agreement. The disclosure will not only make the US citizens wary of opening secret accounts but also make them come forward and disclose their existing secret accounts. Meanwhile UBS has also decided to stop offering offshore accounts to the US citizens besides closing down the existing undeclared accounts.

When A Job Loss Makes You A Stay At Home Dad

2009-08-12T23:47:00.001-07:00

When A Job Loss Makes You A Stay At Home Dad

http://news.yahoo.com/s/nm/20090730/bs_nm/us_economy_dads

This recession has seen more men than women lose their jobs. This is because a lot of the jobs lost were in the traditionally male dominated industries ranging from construction to the financial markets. The number of stay-at –home dads has increased manifold, and a large part of these are made up of men who worked in the financial world at Wall Street.
Are they enjoying this role? I would not think so. Many are in denial, and claim that they are only taking a break and will soon be back to a high income and high pressure job! They sat that they are just waiting for the right opportunity.
The recession has had an impact on the very social structure and fabric of the American way of life. It is difficult for these highly successful men to sit back at home, be dependant on their wives who are now the primary bread earners in their families, and plan lunches, dinners and play dates for their children.

Merchandising, The Real Money Spinner

2009-07-28T23:05:00.000-07:00

Merchandising, The Real Money Spinner

http://www.msnbc.msn.com/id/31849318/ns/business-retail/

Move over Hannah Montana, Camp Rock, High School Musical or even Tinkerbell, Michael Jackson merchandise is here to take over all shelf space. Shops are expected to be soon flooded with a huge amount of merchandise featuring the pop icon. Backpacks to tea service, everything will soon be available with MJ’s picture.
Merchandising has always been an important part of the marketing game. Often enough, the real money spinner is in this segment. The company which is putting the merchandise on the market is saying that this stuff was scheduled to hit the shelves when Michael Jackson went on tour later this year. However, now is a good time and big money is expected to be raked in through the sale of backpacks, pens, T shirts, caps, note books, etc bearing MJ’s name. One only hopes that the money reaches the right beneficiaries.

Credit Card Companies Increase Rates Before Law Comes Into Effect

2009-07-12T23:59:00.000-07:00

Credit Card Companies Increase Rates Before Law Comes Into Effect

http://www.washingtonpost.com/wp-dyn/content/article/2009/07/01/AR2009070103868.html?wpisrc=newsletter

Banks are raising their fees and interest rates ahead of the new law that will prevent them from doing so. They are able to do so since the new law will come into effect 7 months from now, a loophole that has already been criticized by many at the time of it being made public.
On their part, bank executives have argued that the law goes against the nature of credit card risk management. In attempting to limit the liability on defaulters, the law is making them punish the innocent as well by having to increase rates across the board. The increased rates include minimum payment charges, transfer charges, cash advances as well as annual rates.

The Paris Air Show, Flying Low

2009-06-28T23:11:00.000-07:00

The Paris Air Show, Flying Low

http://www.msnbc.msn.com/id/31330518/ns/business-the_new_york_times/page/2/

The Paris Air Show starts this week at a very depressing time for the airline and aircraft industry in more ways than one. The pall of gloom owing to the crash of the Airbus A330 on June 1st remains.
In a sea change from the upbeat spirit at the air show two years ago when aircraft manufacturers walked away with order books thick enough to keep their machines running for a number of years, things are quite different today. With airline losses at record levels, aircraft manufacturers have had to deal with a large number of cancellations.
And finally the corporate jet market, once a symbol of prosperity and status is now considered completely crass. Nobody has forgotten the ticking off received by the CEOs of the ‘Big 3’ when they flew in to Washington in their private jets to seek aid.

FDIC Shelves Toxic Loan Plan

2009-06-15T00:35:00.000-07:00

FDIC Shelves Toxic Loan Plan

http://money.cnn.com/2009/06/03/news/fdic.toxicity.fortune/?postversion=2009060317

The US regulators have shelved a plan to sell off the toxic assets of the country’s banks. The Federal Deposit Insurance Corp (FDIC) has decided to postpone the sale of toxic bank assets under its Legacy loans program and review the strategy again before going ahead. The plan involved offering low cost financing to private investors seeking to purchase troubled financial assets. The program was unveiled as part of Obama administration’s efforts to put the country’s banking system on track. However, the results of the stress tests conducted by the government on the various banks has revealed that the overall financial health of the US banks is not that bad. Infact, several banks have been able to raise a total of $85 billion in recent weeks and this reflects improving investor confidence.

Existing Home Sales Rise In April

2009-06-01T06:30:00.001-07:00

Existing Home Sales Rise In April

http://www.creditunionsonline.com/news/2009/Existing-Home-Sales-Increase-2.9-Percent-In-April.html

Although the prices of home sales have continued to decline the number of existing homes sales has risen in April, according to the latest data released by the National Association of Realtors. The sales of existing homes including single family, town homes, condominiums has risen by 2.9% in April this year to a seasonally adjusted annual rate of 4.68 million units. The April 2009 figure compared with the March sales of 4.55 million units and the year ago figure of 4.85 million units. Most of the activity in the house sales market is being witnessed in the low price range with some pickup evident in the mid price segment also. The High end home sales have however, remained sluggish and are likely to remain so unless the situation in the mortgage market improves.

Your Credit Card Company Knows More About You Than You Think They Know

2009-05-17T23:07:00.000-07:00

Your Credit Card Company Knows More About You Than You Think They Know

http://www.nytimes.com/2009/05/17/magazine/17credit-t.html?ref=business

If you thought that the credit card company and its representatives that make collection calls to you have information just about your credit card debt and other basic financial information, you are in for a shock. In a startling revelation, the magazine of NY Times has revealed that the card companies are privy to much more than your personal finance information. They probably know about your break ups and divorce, your spending patterns, how you have been managing your finances and much more.
These days, card companies have done with their practice of handing out credit cards with little discretion. Now, they do check not only your credit score but also some details about how honest and diligent you have been in taking care of your debts and how your personal life has been so that they don’t have to worry about losing money just in case you face a divorce.

General Motors May File For Bankruptcy By June 1

2009-04-27T23:54:00.000-07:00

General Motors May File For Bankruptcy By June 1

http://www.bizjournals.com/dayton/stories/2009/04/06/daily114.html

According to a report in the New York Times, automobile giant General Motors has been directed by the US Treasury Department to file for bankruptcy by June 1. The auto giant has been asked to lay the ground for a surgical bankruptcy that aims to break GM’s operations into two: the good and the less desirable. The less desirable portions of General Motors are likely to remain under court for a longer time and may be liquidated. However, the company’s plans for a short bankruptcy may be opposed by its bondholders who fear losing a significant portion of their investments in the company. The Obama administration aims to resolve the fate of General Motors early since a lot of taxpayers’ money has been invested in it.

Not Quite Shouting Yahoo! Anymore

2009-04-27T22:36:00.001-07:00

Not Quite Shouting Yahoo! Anymore

http://tech.yahoo.com/news/ap/20090422/ap_on_hi_te/us_earns_yahoo

Yahoo, Inc. has announced that it will cut 700 jobs in its latest attempt at cost cutting. In line with analysts’ expectation, the company’s first quarter results were not good.

This is the third round of job cuts being undertaken by the company. Do we believe that Yahoo can get itself out of the sticky position it is in by cutting jobs? While job cuts are the fastest way to reduce costs, the company also has to deal with the fundamental problem of what has gone wrong with its strategy. As we all know, Yahoo has been losing advertising revenue to Google over the year. It is time for the think tank at Yahoo to think beyond job cuts, and devise a new strategy.

US Prosecutors Charge UBS Client Of Fraud

2009-04-12T22:59:00.001-07:00

US Prosecutors Charge UBS Client Of Fraud

http://online.wsj.com/article/SB123871662824884709.html

The list of American clients provided by the Swiss banking giant UBS is now being used by the US authorities to file charges against the alleged tax evaders. After being charged by the US authorities of helping US citizens in avoiding taxes, UBS had accepted that it had helped a number of its clients evade taxes by hiding their assets from the Internal Revenue Service (IRS). The Swiss bank had also agreed to pay $760 million to avoid prosecution besides providing a list of its US clients. The list is now proving useful and the US authorities have filed a case against Steven M. Rubinstein, an accountant in Boca Raton, Fla. for submitting a fake income tax return. We can expect many more such persons being charged in the near future.

HSBC Does Not Need More Cash

2009-03-30T00:27:00.000-07:00

HSBC Does Not Need More Cash

http://www.iht.com/articles/2009/03/16/business/hsbc.php

European bank HSBC has reassured investors that it is not in need of any further cash. The bank said it is in a comfortable position with no bailout needed from the UK government even if the economic situation deteriorates further - the company’s shares appreciated by over 3.5% after this announcement. Having recently completed an $18 billion rights issue, UK-based HSBC is not expected to go back to the public to raise further funds, the bank’s Chief Financial Officer Douglas Flint has said. The bank’s US operations have incurred huge losses in recent months on account of the sub prime mortgage crisis. The announcement is reassuring at a time when the global banking system is in deep trouble and credit demand at an all-time low.

Powers Of Federal Reserve May Be Widened

2009-03-30T00:25:00.001-07:00

Powers Of Federal Reserve May Be Widened

http://www.bloomberg.com/apps/news?pid=20601087&sid=a316tos337ew&refer=home

The US government is considering giving the Federal Reserve, more powers to tackle the current economic situation and impose tougher and stricter capital requirements for the country’s banks. The move is aimed at accelerating the pace of reform, according to a report in the Wall Street Journal. President Barrack Obama has already said that putting the economy back on track was his key goal and everything required would be done to achieve that. The government appears to be keen on revamping the regulatory rules as also suggested by the Fed chairman Ben Bernanke. Treasury Secretary Timothy Geithner is mulling providing Fed powers to oversee the overall markets and identify signs of systemic risk besides monitoring the government’s payments and settlement system. The time has come to review and identify the problem areas and take quick remedial action.

Silver Lining For The Unemployed

2009-03-15T23:02:00.000-07:00

Silver Lining For The Unemployed

http://www.msnbc.msn.com/id/29140917/

There is good news for all those who are jobless and secretly resent their coworkers who still have jobs - Losing your job is actually better for your mental and physical health than the uncertainty of not knowing whether you would be the next to go, according to a downsizing researcher, Leon Grunberg.

Apparently, during the extended period in which companies complete their layoff exercise, employees coming to work are more likely to show symptoms of stress than their unemployed peers. The anxiety of not knowing when the axe could fall’ was in some cases so intense that some people reportedly felt a sense of relief when they were finally let go off.

I know that’s really hard to believe for those of you without a paycheck. But this is true.

Low Oil Prices Does Not Mean Low Gas Prices

2009-03-01T21:01:00.000-08:00

Low Oil Prices Does Not Mean Low Gas Prices

http://www.usatoday.com/money/industries/energy/2009-02-15-oil-gas-prices_N.htm

Oil prices are down in the dumps. But it is not reflecting in the gas process. One of the main reasons is the refiners. As a result of weak demand, the oil refiners have reduced production. The average rate of utilization at U.S. refineries was roughly 81.5% as of 6th Feb. This is a 17-year low, according to the Energy Information Administration. The refiners are shutting down units as the demand is poor.

The refiners did not cut their production enough in the last quarter of 2008 when gasoline demand was feeble. That time refines did lose a lot of money but offset their losses with diesel fuel. The gas prices will rise but there is no need to worry. It will stabilize after some time.

Copycats For Cheating

2009-02-15T21:50:00.000-08:00

Copycats For Cheating

http://www.usatoday.com/money/perfi/taxes/2009-02-04-taxpayers-cheat_N.htm

Poor President Obama has unfortunately not made a very good choice of nominees for his top posts. With three of his administration's key nominees - former Senate majority leader Tom Daschle, Nancy Killefer, and current Treasure Secretary Timothy Geithner emerging with tax problems, IRS is heading for a tough time in enforcing law on tax payers.
Now, after all, if top guys can cheat on paying their taxes, surely we are small fry! It is ok if we do so too. This is the general feeling of the people.
After all no one likes to feel like a ‘sucker’! The IRS should get ready to grow ‘red in the face’ when people cheat on paying their taxes without any regard or fear of the law.

One More Feather In The Cap: Lower Mortgage Costs

2009-02-03T03:47:00.001-08:00

One More Feather In The Cap: Lower Mortgage Costs

http://www.msnbc.msn.com/id/28946241

President Barack Obama seems to have become a ‘messiah’ of the masses. He has promised that his administration will lower Americans' mortgage costs so that people can pay for the advances that they have taken. Obama plans to come up with a new plan to "get credit flowing again".

Obama and his advisers are looking at how to structure the remaining $350 billion approved by Congress last year to save financial institutions from collapse. This is over and above the economic stimulus plan already passed last week by the US Senate.

Please come up with something fast, Mr. President. We don’t want to lose our homes.