Saturday, August 30, 2014

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The basic and primary function of exchange market is for the transfer of purchasing power between countries. The transfer is by TT, MT, draft, bills, credit cards, etc. The foreign exchange is the most important and most effective purchasing power between the two parties held in different countries.

There are another function of exchange market in the country. The main function and main foreign exchange market is the money from one country to another country money. The second objective of exchange for the security risk. What are the results of exchange rate changes constantly. If every tourist goes to another country for any purpose, it should be his motto in the currency of the country where it needs money to change the various function of exchange market. The exchange rate is the phenomenon that a country's currency in the currency of another country is carried out. Thus, the effect is the country in many respects.

A foreign exchange market is a place which is foreign exchange transactions take place. In other words, there is a market where foreign funds are bought and sold.

Exporters claim the points for importers on their bankers. Currency hedging market assumes the role as regards the risks of foreign exchange. There are frequent fluctuations in exchange rates. To reduce the risk that the market for foreign currency hedging or actual damages caused by futures contracts in exchange for these fluctuations. Agencies of foreign currency to pay foreign currency at a fixed interest rate. Exchange offices bear the risks of fluctuations in exchange rates.

Thursday, August 28, 2014

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Loan modification is still the #1 best alternative to foreclosure. But getting one through requires some little-known information and strategy. You've got to know what the banks are looking for, and how to fill out the paperwork so you not only qualify for loan modification, but get in on those unheard of two and three percent interest rates that can make your monthly payment go down by as much as 40 - 50%!

Banks are allowing some pretty unbelievable workouts with unheard of low rates. Has there ever been a time when you got a 2% interest rate! That is happening everyday to some people. Will you ever have this opportunity to lock in these silly low rates again? Probably not, so take your loan modification paperwork VERY seriously and don't talk yourself out of your own modification.

If you're one of the millions who make up 1 in 7 homes in foreclosure or default, then what you're about to learn can stop your foreclosure and substantially reduce your monthly mortgage payment giving you the financial relief you need to stay afloat and stabilize your life with lower mortgage payments now and over the long run.

The main problem - and what stands between you and a modified lower monthly payment has been perfectly summed up in this recent Los Angeles Times article

Getting loans through the system to the modification finish line is tough for banks and loan servicers, says Douglas Potolsky, Chase Home Lending senior vice president. The main obstacle, he and other banks say, is borrowers who don't properly complete their paperwork.

The trick is to know how to fill out the darn paperwork so you don't talk yourself right out of your own modification!

90% of the loan modification requests are not going through because people fill out their paperwork to their DISADVANTAGE. They either disqualify themselves because they show they make too much, or too little, to afford the NEW modified payment that's the lower one that's based on the 2% to 4% rates that bank can give you in modification, but won't if your financials and other paperwork pieces qualify for this payment.

90% of the people who fill out the paperwork for loan modification do not know how the banks are looking at their numbers and story. Banks actually have a couple of formulas they work by when calculating your financials in relation to your hardship letter, pay stubs, checking account statements, and past 2 years of income tax returns. You must make all of these pieces jibe together for one consistent financial hardship story.

Basically this is how you want to fill out the main two pieces of paperwork for loan modification the hardship letter and financial worksheet:

1. Hardship letter: Be consistent and make sure the hardship story and the numbers you provide on your financial worksheet make one strong, consistent picture. In about 1 1 pages, make sure you give the following information in this sequence:
a. Include your loan number at the top
b. ASK for a loan modification in the first sentence
c. Make it evident that you are capable of earning consistent income, but right now, your hardship is making your mortgage - and life - unaffordable. Tell them you need help
d. Explain with emotion all of the reasons you're in hardship. Banks are especially looking for things like reduced or lost income from one or more household members, increased expenses that were unexpected or unavoidable, a medical problem that left you sick or disabled and from earning income, and/or caused increased expenses, etc.
e. ASK FOR WHAT YOU WANT ask for a low interest rate (2%-3%) for the first 5 years while you get back on your feet; and then ask that they stretch your loan term out to 40 years; and that the remaining 35 years be at 4% to 5%. Use an amortization calculator (search online) and calculate what your payment would be at 2%, 3%, 4%, and 5%. Tell them that you CAN afford payments based on a 2%, 3% right now, and that later, because of better work projections or opportunities or whatever reason that you can later afford a payment based on 4% or 5%. I always ask for 2% for the first 5 years and then 4% to 5% for the rest of a 40 year loan when I help people fill out their paperwork.
f. Close with a sentence or two that tells them you want to keep you and your family in your home (mention of kids if you have them helps) and that you want to avoid foreclosure and further damage to your credit.

2. Financial worksheet/Personal budget: Get this form from your bank. Your modification will go through faster and cleaner is you use the banks form instead of making your own Excel spreadsheet. One of the banks formulas I was telling you about comes into play when they review your financial worksheet. This is where most people blow their chances for getting a modification. The banks are looking to see that you can afford the new, modified payment the one based on 2% or 3% with about 0 to 0 left over. This is a fine line between showing that you don't make too much or too little to afford the modified payment. This is how you get to that balancing point:
a. For now, where you see the line to write in your monthly mortgage expense, do not put in your current payment. Put in the modified payment you're going after the one that you calculated with the amortization calculator at 2% (or 3%) or somewhere in between. This is a temporary placeholder for the purpose of getting the sum of this payment plus all your other monthly expenses minus your monthly income to come out to about 0 - 0 left over. Then, before you fax in this worksheet with your other paperwork, make sure you erase that lower mortgage payment that served as a placeholder to make all of your numbers jibe, fill in your actual, current mortgage payment. Or make a copy of the blank worksheet like I do then it's clean as a whistle.
b. Write in your income and all of your other expenses. The trick is using some of the categories that are not easily tracked like your monthly food, gas, and credit card payments that you can increase or decrease if you need to get your end balance to be at that 0 - 0 left over after Income minus Expenses. Realize that they will be cross-checking the numbers on your financial worksheet with your checking account statements (you submit the past two months checking and savings bank statements). Realize too that if you have a bunch of money (over ,000 or ,000 sitting in savings), that the bank will see this as a place you can pull from and pay them.

Most people don't understand what's behind the banks strategy and that they are indeed debt collectors! They want to make sure you can pay or they're not going to give you a new loan (modified loan). People don't realize what they should ask for, what to say ... and what not to say ... or how to talk to their bank to get the right story on record. Because they don't have this critical insight, many are losing out on the best loan modification opportunity of the century.

I help and counsel people through loan modification, and have an eBook that outlines steps to modification and virtually every other option you can take to avoid foreclosure in my book called, How to Survive Foreclosure or Avoid it Altogether.
Learn more at

How to Survive your Foreclosure or Avoid it Altogether

Wednesday, August 27, 2014

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To resolve Income Tax related tax issues of the taxpayers, the Government has created office of Income-Tax Ombudsman. The officer designated as Ombudsman hold independent jurisdiction and work as autonomous authority.

The Government has so far set up twelve offices of Ombudsmen. They are stationed in Mumbai, Pune, New Delhi, Ahmedabad, Chennai, Bangalore, Kolkata, Hyderabad, Kanpur, Chandigarh, Bhopal and Kochi.

The jurisdiction of the ombudsman is highly restricted; however, they can help the taxpayers in resolving issues such as
(i) Income Tax Refunds matters.
(ii) Refusal to acknowledge letters / communications sent to the department.
(iii) Erroneous demand matters / assets attachments causing harassment to assessee.
(iv) Scrutiny selection procedures and failure to communicate reasons thereof.
(v) Cases related to interest waiver, rectification applications, appeal effects etc.
(vi) Release of books of accounts and asset after the completion of the proceedings.
(vii) Issues relating to refusal to allot Permanent Account Number.
(viii) Tax credits and adjustment relating to TDS.
(ix) Conduct of proceedings beyond working hours at the IT offices.
(x) Impolite behavior of the officials.
(xi) Matters concerning circulars of Central Board of Direct taxes about the Income Tax administration.

However, the ombudsman will not interfere in the proceedings if the issue requested to be settled is already under an appeal, revision, reference or writ.

Application to Ombudsman The Ombudsman reconciles disputes / issues between the department and assessee. The decision of Ombudsman is referred as Award'. The application to resolve an issue can be filed by the aggrieved assessee himself or through his representative. The application should be signed by the taxpayer or his legal representative bearing the name, address and permanent account number of the complainant. The application should also state the details of the official against whom the complaint is filed. The reasons for the application of complaint should also be mentioned therein. The necessary documentary evidence can also be submitted along with the application. The application must contain the details about the date on which the assessee first complained to the income-tax authorities and its result. The application can be filed through personal submission / post / E-Mail. E-Mail complaints can be signed at the time of proceedings in the office of Ombudsman.

As a prerequisite, the applicant must first prefer compliant to higher authorities of the official being complained. The assessee must wait for at least 30 days for the action of the superiors before approaching the office of Ombudsman. Assessee should also restrain from filing compliant which is frivolous or vexatious.

The complaint should be filed within one year from the date of the reply of the department to his representation. If no reply is received, it should be filed within thirteen months from the date of representation to the Income Tax Authority.

On receipt of the complaint, the Ombudsman will send a copy of the same to the concerned officials and try to reconcile the issues through mutual understanding of both the parties. If amicable settlement is not working then, Ombudsman can pass a decision called Award. The award should be in line with the documents available on record and the tax laws. The Ombudsman can also instruct the concerned officials to release payments and also to apologize to the taxpayer. Ombudsman can also award monetary compensation upto Rs. 1,000.00. The Income-Tax authorities are given one month's time for the implementation of the award.

The compensation amount which is subject to a maximum of Rs. 1,000.00 is paid by the Income tax department out of the budget allotted.

The decision pronounced by the Ombudsman should be accepted by the I-T department. However, to comply the order, complainant must send his acceptance to the order within 15 days of the receipt of the award letter. Otherwise, the award shall lapse and be of no effect.

The ombudsman keeps record of various taxpayer problems. The information is periodically submitted to the Central Board of Direct Taxes and the Finance Ministry. Ombudsman also reports to the CBDT about the officials found to have defaulted in their regular duties.

Details of Ombudsman offices
1. Delhi: 011, Room No 251, Central Revenue Building, I.P. Estate, New Delhi-110002, E-Mail: delhi-
2. Kanpur: 0512 (U.P&Uttarakhand), 110/25-26, 80 Feet Rd., Kanpur, E-Mail: kanpur-
3. Kolkata: 033, Aayakar Bhawan, P-7, Chowringhee Square,Kolkata-700069, E-Mail: kolkata-
4. Mumbai: 022., 115, Mittal Tower, B-Wing Nariman Point, Mumbai-400021, E-Mail: mumbai-
5. Kochi: 0484, Income Tax Ombudsman, 7th Floor, Kera Bhavan, SRV H.S. Rd., Cochin-682011, E-Mail: kochi-
6. Hyderabad: 040, Room No. 819, Aayakar Bhawan, Basheer Bagh, Hyderabad-4, E-Mail: hyd-
7. Chennai: 044, Income Tax Ombudsman, R.No. 317/319,3rd Floor, Aayakar Bhawan, 121, Mahatma Gandhi Road, Nungambakkam, Chennai-34, E-Mail: chennai-
8. Bangalore: 080, 4th Floor, A' Wing,Kenderiya Sadan,Koramangala, Bangalore-34, E-Mail: bnglr-
9. Ahmedabad: 079, Room No. 104, 1st Floor, Nature View Bldg.,Ashram Road, Ahmedabad-380009, E-Mail: ahmd-
10. Pune: 020, Aayakar Bhawan, 12, Sadhu Vaswani Road, Pune 411 001, E-Mail: pune-
11. Chandigarh: 0172, C.R. Building, 3rd Floor,Sector 17E, Chandigarh, E-Mail: chd-
12. Bhopal: 0755, E-7/511, Income Tax Guest House, Areara Colony, Bhopal-16, E-Mail: bhopal-

The Author, CA A. K. Jain, can be contacted at, 21, Skipper House, 9, Pusa Road, New Delhi 110005, Mobile No. 98-100-46108, E-Mail:

Saturday, August 23, 2014

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As you search for Fast Cash Personal Loans related information or other information about Build Ftp Server, Atlanta Bad Credit Car Loans, Student Loan Low Auto Loans, Cash Fast Loan Pennsylvania, AAA Fast Cash or High Risk Payday Loans, take your time to view the below article. It will provide you with a really refreshing insight into the Fast Cash Personal Loans information that you need. After going through it you will also be better informed about information in some way related to Fast Cash Personal Loans, such as Auto Loan Refinancing, Unsecured Credit Cards For Bad Credit, Tenants loan Online, Quick Tenant Loans, Unsecured Student Loans or even Fast Cash For Kids.

Filing for bankruptcy is not really the end of the world. You can successfully overcome it. Securing a bankruptcy loan is one way of regaining your financial strength. This will help you get your own house and automobile, even after you are declared as bankrupt.

So before you start looking for a loan, take a look at your current loans' terms. Write down interest rates, current pay off dates, and annual fees. This will give you numbers to compare against.

The loan may be repaid in a comfortable larger duration of 5 to 25 years. In order to escape the pitfalls on debt route, shorter repayment term should be preferred by the borrowers. A larger repayment term with easy installments of a lower amount looks attractive initially but borrower may end up paying more on the interest than he had signed for.

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Loan providers make their profits by charging interest, and if you clear your loan early then you won't be paying the lender as much interest as you would if your loan went to its full term. Obviously, this means they will make less profit out of you, and so many lenders will write an early repayment penalty into the loan agreement to make sure that the arrangement is still profitable for them if you repay early.

Personal loans unlike other loans are not specific for property holders or tenants; on the contrary, all classes of people can obtain it. Whether a person is having good credit history or bad credit history, personal loans are always there to help you all.

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Payday personal loans are a profitable revenue stream for lenders. The banks and finance companies that offer these loans charge a very high interest rate. This is because the annual percentage rates on these loans are high as compared to most other types of loan. In spite of this, a very large number of people take these loans because the processing of these loans is simple and quick.

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Wednesday, August 20, 2014

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Unexpected middle month crisis can leave you baffled. In the present day and age, limited sources of income have taken a toll on a monthly planned. Even the most smartly planned budgets turn-upside down the moment unexpected crisis crop-up. Sudden vehicle breakdown and medical expenses are such two instances where a person may have to shell out extra cash to combat those situations. 12 month cash loans are the ultimate source of extra funds availing which you can eliminate middle month crisis within a nick of time. UK residents can apply for this loan without even giving a second thought.

Depending upon your current income, repaying ability and financial status, loan amount would be sanctioned to you. These loans are available to all albeit atrocious credit background. Lenders offering this loan are not bothered with your credit ratings. No matter whether you are suffering with blemished tags such as foreclosure, individual voluntary arrangements, insolvency, arrears, late or missed payments or county court judgments, you are eligible to apply for this loan.

It is important for you to remember that as these loans are collateral free in nature, they tend to carry high interest rate in comparison to other standard loans available in the market. With the increasing number of money-lenders offering this loan online, selecting the best loan facility has become a lot easier and quicker task. Due to cut-throat competition amongst each other, they offer deals that are eye-catching for the borrowers. You may end up finding one lender offering reasonable interest rate while other offering easy and flexible repayment options. So, the ball is in your court, the decision is entirely yours.

12 month cash loans have proved to be a boon for those who have nothing to place as collateral with the money-lender. If you do not have a property or nay other valuable asset, you are entitled to apply for this loan without any hesitation. All these features have further added to the popularity of this wonderful loan.

Tuesday, August 19, 2014

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The mine offering to sell their gold is in Guyana, South America...although it's owned by a US Corporation based in Ft.Lauderdale. You buy the gold, let's say 10 ounces (,070), then in 18 months they sell your 10 ounces direct to the Government of Guyana for SPOT rate and wire you the proceeds. It's just that simple. In the above mentioned scenario you purchased ,070 worth and received in return ,000 in a year and a half.

So Where in the Heck is Guyana....and Why Should I Invest There?Guyana (formerly British Guiana) is located on the north east-coast of South America between Venezuela and Suriname, and completely bordered to its south by Brazil. Historic records show that mining for gold from surface deposits began in the Amazon region as early as the 16th century. Since that time, it's estimated that over 50 million ounces of gold have been extracted from the Amazon as opposed to only 12 million ounces removed from California during the Gold Rush. In the late 1970s, Brazil's government conducted a sweeping aerial survey of the region. As a result, they helped to confirm the presence of the

Saturday, August 16, 2014

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Money does not grow on trees. Many people learn this old clich the hard way. When you become buried under a pile of debts because of unhealthy spending habits, you can blame it on the credit cards, on media's glorification of branded and expensive products, or on your friends whom you want to keep up with.
However the truth is, there is really no one else to blame but you. As an adult, you are responsible for spending your money and for spending it the right way so that you don't end up deep in a financial problem the next day you wake up.

Below you will find some practical information on how to improve your spending habits.

Recognition of the Problem

The first step in improving your spending habits is to recognize the problem. Not only do you have to admit to yourself that you need to correct your financial tactics, you also have to study and analyze your spending patterns in order for you to determine the areas you need improvement. Other than that, you should also ask yourself the following questions:

Do you usually find yourself wanting to spend just for the sake of being able to buy something?
Do you buy things that you don't really need or want?
Do you have that urge to keep up with the latest fashion or buy the latest gadgets?
Do you believe that spending money is the best way to enjoy and have a great time?

Impulse Spending

Answering these questions would lead us to the next topic, which tackles impulse spending. Letting yourself buy things on impulse is never a healthy spending habit. If you are prone to this, the best way to resolve it is to look for factors that trigger your desire to spend. In short, eliminate sources of temptation.

For example, if you find yourself spending more than you usually do whenever you have your credit card with you, then it is best that you leave this at home at all times. Now, if you are the type who cannot resist a new pair of designer shoes then the smart thing to do would be to avoid going to shoe stores when money is tight.

Credit Card Use

People should be aware that the using plastic money comes at a cost. Sometimes, this can even take a toll on a person's financial health. To be money-smart, avoid using credit cards as much as possible. Use them only when you have no other choice and only for expenses that are very important. Don't make purchases with your credit card for everyday items like food, grocery, clothes, bills, utilities, and so on. Don't be contented on paying just the minimum. Doing this would only extend the debt and incur more interest charges. Save money for emergencies instead of relying on your credit card.

Financial Perspective and Attitude

Improving your spending habits also have to do with changing your perspective and attitude regarding money and in life general. Most of the people who become deep in debt are those who rely on material things for happiness. False values, wrong priorities, discontentment, and the desire to keep up with the Joneses are the other things that cause people to spend more than what they can afford. Living within your means may not mean living the dream but if you are money-smart and you save money for your future, you can experience this someday. On the other hand, if you force yourself to live a big life today even if you cannot afford it, you may wake up one day with nothing left.

Of course, when the inevitable happens and you find yourself trapped in debts even if you think you have done everything to improve your spending habits, there are effective financial strategies that would help you cope with the situation more easily. One of these is debt consolidation loans, which allow you to combine multiple loans into one that has a lower interest rate and monthly payment. But be sure to use debt consolidation calculators and get professional advice so you can determine if this is the right option for you.