Debt Declaration – Bad Credit Help & advice, Debt Settlement Tips

Are there benefits to a higher credit score?

September 25, 2010 by · Leave a Comment 

While the most popular credit score model is the one that has been established by FICO, also known as the Fair Isaac Corporation, that determines the creditworthiness of a person i.e. the likelihood of being able to pay their debts, there has always been speculation about how one’s credit score actually affects their chances of obtaining a mortgage.

And this is why people work so hard in order to obtain an excellent credit score.

However, prepare to be shocked as the fact is that even though you might have a high credit score, it won’t necessarily give you the yield that you might be expecting. The truth is that people with a score of 720 will benefit just as much as those with much higher scores and taking it any higher will not necessarily provide any substantial saving over the life of your mortgage loan.

However, in order to qualify for a mortgage loan, one must have a FICO score between 620 and 720 as there are almost a quarter of U.S adults do not have access to these loans, thanks to their credit ratings being below the magic number of 620.

And while mortgage loans were offered at 4.3 percent for those who had a credit rating of 720 and above, the best rate offered for those with a credit score rating of 620 and 639 was about 4.9 percent. Simply put, for an increase in 20 credit points, the mortgage rate dropped by 0.19 percent which is not much as the interest rates are very low at the moment.

Finally, why there is very little difference between the two is because those with credit scores barely need credit, and the banks will make very little from them as opposed to those who have manageable scores.

5 Debt consolidation tips you must know

September 17, 2010 by · Leave a Comment 

If the thought of your debt load is bothering you, then it’s high time that you consider debt consolidation. Credit cards are very tempting to use and if you cannot handle your credit cards properly, you can land up in a quagmire of debt. Credit card debts will soon become stressful if you do not have enough money to pay your debts off. Debt consolidation should be considered by those who do not have enough time and money to pay off debts. There are certain tips that you should remember while consolidating your debts. Read on to know about them.

1.Make sure it’s a trustworthy organization: Before committing yourself to a particular debt settlement organization, make sure that it is a reputed and a trustworthy one. First you need to investigate the company whether or not they are authorized. Check if the company has a license and is authorized with different organizations, especially the BBB. This will prevent you from falling caught under fraudulent acts.

2.Compare different debt consolidation companies: When you think of consolidating your debts through a debt consolidation company, make sure that you compare and contrast different debt consolidation companies. This will help you ensure whether or not the rate that you’re offered is the most competitive in the market. You can also see if the rate is the best rate in the market.

3.Go for secured debt consolidation service: When you go for debt consolidation services, it is better to go for secured debt consolidation. You can reap the benefits of lower interest rates and longer repayment terms as compared to unsecured debt consolidation services. This is known as collateral loans where you provide something as collateral in order to meet the repayment guidelines.

4.Review the terms and conditions: It is very important that you review the terms and conditions of the company before signing into it. If you fail to understand the legal jargons involved, it is good to hire a lawyer who can help you. It is better to spot unfavorable terms initially than later or else it may greatly affect your finances.

5.Consider the costs: Verify whether or not there are hidden costs involved in the debt consolidation services. There are certain scam companies that charge you with hidden costs and these are the scam companies. This is why you need to trust the company before agreeing on anything.

Thus, if you are seeking debt consolidation, take into account the above mentioned tips to get the best results after consolidating debts.

The Importance of Financial Services Software Companies

September 17, 2010 by · Leave a Comment 

There’s no doubt that the role of financial services software companies in the global financial market is integral, it seems, to the entire process itself. In today’s world, technology is the only way by which one can trade in the market as a normal day trader or a pattern day trader.

Brokers also have to keep tabs on these pattern day traders on a daily basis according to the law (NYSE Rule 431) which doesn’t allow them to purchase securities with the profits that they have made until the third day after the day of making the trade has passed.

Another aspect of this is the Option Symbology Initiative that is now undergoing a change from the old symbols that were used to identify traded options to new ones, and of course, the changes will have to be incorporated in the system software that is used for trading. Since this requires a lot of work in all areas, one cannot afford to omit this important change as it pertains directly to industry regulatory compliance. And for this, there are certain financial services companies that are working with their clients to make the transition as smooth as possible.

And this isn’t all, with Global Regulatory Compliance also being an important point of focus for most brokers, the software that they use must be able to attract key players from other markets, particularly from the securities, banking and investment community.

Forex trading systems are really simple to build

September 15, 2010 by · Leave a Comment 

For beginners who are still making an attempt to absorb the barrage of information that FX trading is known to do, building Forex trading systems from the ground up might not have necessarily occurred to you. What one means by this is a systematic approach in using the appropriate tools and methods that is important to successful FX trading.

Yes, most folks who enjoy doing their own thing, might have already taken the “Let’s wing it” approach which doesn’t always turn out in their favor, and thus, these folks who have been burnt end up discouraging others from attempting to enter FX trading as well.

However, it isn’t as complicated as it’s made out to be. It’s just that your approach to the whole thing has to be to focus on building a trading system before you can proceed to reading Forex charts that takes time to master.

In fact, if one is seriously interested in making large profits in FX trading, it’s better to hire a broker that is trustworthy (who isn’t buying when you are selling, and vice-versa) and will guide you in providing you the right signals and tips that one needs in order to thrive in FX trading.

While online brokers are the way to go at this time, the internet has given birth to technology that can used in FX trading, and while several online brokers use Web-based interfaces, there are some trading platforms that are download-dependent such as the forex trading etoro that will help you get started and which are simple to understand and easier to use.

Interested in the forex trade?

September 13, 2010 by · Leave a Comment 

While most beginners have to depend on forex brokers to make their investments click, there is no guarantee that these brokers themselves don’t have vested interests of their own. Yes, you would have heard the horror stories involved in dealing with brokers who are well-versed with the foreign exchange market and how it works.

But the truth is that forex trade has changed into the online trading avatar that has evolved over the past few years, and with that even though there is still a lot to learn, the use of several forex online tools that not only do stuff for you but also teach you the rudiments of the market has made things easy if not easier for beginners, and thus closing the gap between the pros and ones who don’t know as much.

One of the popular options that most beginners go for is the Finexo Forex tool that can be found at the website,, not only helps one to trade in the market but specifically teaches beginners the tools of the trade, so to speak!

And as always technology (and the Internet) continues to bridge the gap between people who are experts in the forex industry and people who are just starting off. The only differentiator between the two would be the learning curve that the user of these tools is able to absorb in the form of absorbing forex charts and finding the best sources for tips as well.

Forex trading software makes things easy!

September 11, 2010 by · Leave a Comment 

When one starts out to invest in the foreign exchange market (Forex market), one has to depend on external sources such as brokers for tips and signals if they want to make any money in forex trading and that life where you finally gain financial independence (and which counts for a lot!).

But where does one begin with the flood of information that people who are experienced players are bombarded with everyday?

Of course, it is important to know which sources (of information!) to trust, and which, to consider as hogwash. Among several websites, one can start with fx360, which not only provides with the latest updates occurring in the forex market that you can not only view using a web browser but also on your iPhone like thousands of other ‘killer apps’ that can be downloaded as well.

And since we’re talking about technology and how it has changed our lives, forex trading software has also changed the way things were done in FX trading as well. There are several websites that offer one the ability to begin “online trading” as we know it but one has to be aware of the risks that can amount to significant losses.

If you intend to go the online way, then it is best to know what you want (especially if you are a beginner), and then pick 3-4 sites, and then bring it down the one or two once you know which works for you. One thing is for sure, it’ll make things far easier and fun for you!

Choose a good forex broker

September 8, 2010 by · Leave a Comment 

A good forex broker will lead to a good experience in forex trading.Choosing one of these good brokers is not too difficult, but you may be surprised to learn how many people make the wrong choice. This is because most people are so taken up with the possibility of making “easy money”that they jump at the first opportunity that presents itself to them. Never make this mistake, because it will only lead to your ruin.

Choosing a good forex web trader or broker is of paramount importance to your future in the forex trading business.The key to making the choice is intensive background checks on the broker.The web can help you out on this one, as you will find plenty of forex review sites and forums online. Go through as many of them as you can and do not do anything in a rush. Take your time (the forex market will always be around) and understand what people are saying about a broker. Look at the good points and the bad and draw your conclusions based on that.

One other factor that will aid you in your choices is knowledge of forex trading. Put in a good effort to learn forex trading and you will find that you understand the complicated terms as well as what makes a smart decision and what doesn’t. Make learning a habit, at least with forex trading, because it will help you in the long run and ensure that you make more profits than losses.

Stay on top of forex news

September 7, 2010 by · Leave a Comment 

When you get into trading, you might think that all you have to do is just invest your money. Sadly, forex trading requires a lot of work and most of the work has to do with information processing. The information in this case is forex news.

Forex news basically encompasses a lot of things. It is not only financial news but a lot of other information.Forex charts play a key role in your understanding of where the currency markets stand at the moment. Understanding this and processing the information can mean the difference between a good profit and a disastrous loss.

Another source of information is world news. You need to keep track of what is going on in which country. This may seem irrelevant at first, but a problem in one country (war, famine, recession, political unrest etc.) can affect another one (through trade or otherwise) and this can set off a domino effect in the worst scenario.When this happens you need to be ready to make a killing. So you need to know what is happening especially in the countries whose currencies you trade.

Apart from this you should monitor trends, forex signals and talk to your forex broker regularly so that nothing really comes as a surprise to you.By staying on top of forex news, you can make better decisions and turn your moderate successes into big ones. These decisions are what will define your success in the forex trading market.