My Finance Site! » Uncategorized http://www.financelend.com Welcome to FinanceLend Sat, 26 Jun 2010 06:57:04 +0000 http://wordpress.org/?v=2.8.6 en hourly 1 What is Forex? http://www.financelend.com/what-is-forex http://www.financelend.com/what-is-forex#comments Sat, 26 Jun 2010 06:57:04 +0000 admin http://www.financelend.com/what-is-forex The word forex comes from two words: foreign and exchange and is also known as FX.  This is where you buy one currency while at the same time you are selling another.  So what you are really doing is exchanging the sold currency for the one that your are purchasing.  Currencies trade in pairs like the Euro-US Dollar or US Dollar-Japanese Yen.
 
There is no centralized exchange for forex trading which is how they differ from stocks.  All the forex transactions take place either electronically or via phone. There are two sources for the daily turnover of the world’s currencies. Five percent is foreign trade and ninety-five percent is speculation for profit.   Generally traders will focus on the most liquid and biggest pairs. The major ones are the US dollar, Yen, Euro, Swiss franc, British Pound, Canadian Dollar and the dollar from Australia.

About eighty-five percent of all forex trading is done with the major currency pairs. Forex is the most traded market in the world with an average turnover of 3.2 trillion US dollars. This is a true twenty-four hour market as it moves around the world as each business day begins.    It begins in Tokyo, then to London and then to New York. 

]]> http://www.financelend.com/what-is-forex/feed 0 What is an IVA? http://www.financelend.com/what-is-an-iva http://www.financelend.com/what-is-an-iva#comments Thu, 10 Dec 2009 18:40:58 +0000 admin http://www.financelend.com/what-is-an-iva IVA stands for Individual Voluntary Agreement. This agreement can take place when someone has creditors that they owe and they wish to arrange a payment agreement with their creditors. This type of agreement will include the full amount of debts with creditors and it will have a time frame in which the debts will be considered free and clear. For example, one may set up their agreement with their creditors, via a third party (the one who helps the consumer prepare the agreement) so that their debts will be paid off in 3 years. This agreement is not to be confused with credit counseling or other debt relief programs like that.

There are licensed professionals who arrange these agreements with consumers. These professionals will ask for a person’s total debt amount, their financial information regarding income and other things like that, and they will help the consumer figure out their payment plan. When the consumer is in total agreement of what they will pay back, when the payments will be made, and for how long the payments will be made, they will then sign an individual voluntary agreement. An Interim Order is the next step.

An Interim Order is a court proceeding. It is best described as a court hearing or a court judgment, but it is a temporary one. This proceeding will not be finalized until the consumer and the creditors have appeared at court proceeding and have agreed, before the Judge, about the agreement that has been made, otherwise known as the individual voluntary agreement.

You can read more about IVA’s on DebtAlleviate.co.uk.

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