Leadpile’s Blog

With today’s news about Wachovia Bank being purchased by Citigroup, this leaves pretty much 3-4 major banks out there now. For instance, there is Wells Fargo Bank, Citigroup, JP Morgan Chase, and Bank of America. According to Business Week, this could mean the cost of taking care of your money, or getting new loans could cost consumers more money. “The larger the bank is, theoretically the more power they have to set pricing and other policies,” said Nancy Atkinson, senior analyst at Aite Group, a financial services research firm. “I expect we’ll start to see free checking accounts start to disappear, and rates on overdrafts could go up. Savings rates could drop, Business Week says.” Also, things such as customer service and answering questions, could be a little hard to get taken care of with these new consolidation of banks. Therefore, those that are maybe wondering how this bank consolidation affected them… maybe soon will see.
Will all these changes cause industries such as payday loans to become more popular, because consumers getting loans with their banks won’t happen as easily? Time will tell how this will affect Leadpile Lead Exchange and the types of leads we are bringing in.

The quality of leads in a lead exchange is one of the most important factors in making the exchange work. Leadpile Lead Exchange currently allows 48 hours for a lead buyer to return a lead for bad contact information. Our quality control department is there to provide feedback from the leads being returned to the business development department. If there is any sort of consistency with bad quality, the issue will be addressed individually with the lead seller/publisher.
However, how does a lead company potentially deal with lead quality if they do not allow returns?
According to the Leadcritic, Lower My Bills has not allowed leads to be returned for some time. However, they incorporate an expected return rate into the cost of the leads. Do you think this is as affective as companies allowing returns?
Each lead company is different on the time frame they allow leads to be returned, and that is another question to address. What is a fair amount of time to allow a lead buyer to return a lead? Is it maybe simplified to do things the LMB way, and just incorporate the cost of potential lead returns into the cost of the leads?
Leadpile Lead Exchange believes that hearing the feedback of the buyers – good and bad – is crucial for us to make this marketplace work effectively. If we do not get feedback from our lead buyers, we don’t know how to fix a “problem” that we might have. We LOVE feedback… good and bad!

I thought it’s interesting to see how the banks are going down… Everyone’s attention is shifting towards the Wall Street, banking and how the bailout is going to turn out. We definitely have to speak out, and please, if you have something to say about this, respond to the post.

Even though Chase is not in “trouble”, I guess they are running into some issues with their site. For few hours their website was down:

With all the scrambling in Ohio to regulate the payday lenders, C.O.A.S.T. (Coalition Opposed to Additional Spending on Taxes) said it will urge Ohians to vote “no” on the November vote regarding regulations on the payday lenders. A representative of this group believes the government should stop tracking everything that people do and stop trying to change what people do.
It seems the overall opinion is that people want to have control over their own lives. They don’t want “big brother” to control when and where they get their much needed money.
Time will tell, who else comes out of the wood work expressing their support or objection with the payday lending issue in Ohio.

Many businesses out there are in need of borrowing money, however they are not wanting to go through the long process of getting a business loan (or they can not qualify for a business loan). Businesses now have an alternative to a business loan, and that is getting a business cash advance. Business cash advance is a business borrowing money based on their credit card receipt volume.
The Leadpile buyers are demanding this new lead type, so we have created a new TEXT Link/landing site + multiple banners for our lead sellers/publishers.
www.USbizcash.com is available in the Leadpile seller account.

There is also the option of hosting our MicroClick form on your own websites too! Take advantage of this large demand and the innovative tools Leadpile provides to you to generate the leads! (http://www.MicroClick.com)

Other HOT offers we have:

- Cash Advance Leads
- Auto Financing Leads
- Credit Card Processing Leads
- New Car Purchase Leads
- Home Improvement Leads
- Debt Settlement Leads
- Credit Repair
- Bankruptcy

Want to make MORE $ with Leadpile? Get started today and receive $100 bonus! – call us today and find out how

Backers of a move to repeal portions of Ohio’s new payday law have 10 days to collect more than 55,000 valid signatures after Secretary of State Jennifer Brunner ruled Tuesday that the first batch of petitions fell short. Brunner, in a letter to petitioners backing the partial repeal of House Bill 545 said 185,729 signatures were certified out of the more than 422,000 the group submitted Aug. 31. Those signatures met requirements in 33 counties. The group needs at least 241,366 valid signatures to meet requirements in at least half of the state’s 88 counties to bring the referendum before voters.

Payday Lenders better get out in droves to collect those signatures, or kiss the repeal goodbye.

Now might be the time to go out and get your new GM auto. According to MSNBC, the employee discount promotion will not be extended past the end of this month. If you are wanting any type of GM, now would be the time to go out and get it and save some money! The discount was saving some consumers anywhere from hundreds to thousands of dollars on that new car. This promotion has been going on since mid August, however sales are still down from the year before. Fortunately, it has allowed GM to have less of a “slump” compared to Ford and Chrysler.
If you are a consumer who is wanting to get that new auto NOW.. Let Leadpile connect you with dealerships in your area. Go to my loan and debt website to get matched up with an auto dealer.
If you are a publisher or advertiser, we would love to work with you here at Leadpile Auto Lead Exchange to connect consumers with dealership near them!

We all know the payday loan industry gets a lot of scrutiny for it’s “high interest” rates, however I found this article very interesting about the annual percentage rate (APR) on returned checks.
According to The Community Financial Services Association of America (CFSA), “the median interest rate on bounce protection loans to be in excess of twenty times that of payday loans.” When a consumer bounces a check, in essence it could be a lot more expensive for them to do that, than go get a short term payday loan. When a consumer bounces the check they pay a certain fee, and that fee is accumulated daily until the funds are sufficient. Unfortunately, this could sometimes cause a snowball affect, being that charge after charge could lead to more insufficient funds.
Payday loans might not be the only alternative, however a consumer needs to really look at the overall picture. They need to try and determine how they can prevent this sort of situation from happening again. Banks will make their money on fees, however there are certain circumstances that happen where you should look at alternatives that might cost you less in the long run.. like a payday loan, borrowing the money etc.
Leadpile Lead Exchange works with various lead types that deal with helping consumers be matched up with financial institutions to provide that service. Unfortunately, not all consumers reach out for help, and in turn get deeper and deeper in a “hole”. There are resources out there such as the payday loan that can be very helpful in trying times.

In recent months with all the foreclosures happening around the world, there is unfortunately some that are trying to capitalize on this. According to MSNBC, one in eleven consumers are facing foreclosure or behind on their mortgage payments. Therefore, consumers are trying to get out of this situation in any way they can. However, there are those scam artist that are trying to take advantage of these consumers trying to get out of their tough situation.
There are two types of scams going on right now with home owners. There are the scams where the consumers are asked to put up some upfront fees to pay for the “assistance”, but then the scam artist disappear with their money. “But the more lucrative scam involves seducing homeowners into complicated transactions that allow con artists to steal equity in the house or walk away from the closing table after netting thousands in phony payouts,” according to MSNBC.
This is a huge problem for home owners that are already in a bad situation. Before allowing anyone to assist in “helping”, all consumers need to really know who it is that they are working with. Asking questions and checking out specifics of these companies/individuals can hopefully prevent some from getting scammed. Unfortunately, peoples hardship is another person’s gain. Our home is one of the largest investments we will ever have, and we can’t allow those criminals to take that away. This can not happen if we are all aware and educated on the different types of scams.

Leadpile Lead Exchange does not currently generate a lot of foreclosure leads, however if there is a company out there that is truly wanting to help consumers from going through this sort of situation, we are certainly able to look at generating more leads. Matching up consumers with legitimate companies to help them is also our goal.

How many of you read the fine print at the bottom of your credit card or loan applications? I know I don’t always do that, and I am learning that maybe we ALL need to pay closer attention to the fine print of agreements we sign. The reason we want to make sure and do this is with a practice called “universal default”. According to Bankrate.com, if you are late to ANYONE (lenders) you have the potential of having your interest rate adjust really high, potentially affecting your payment amounts, and maybe even affect your credit. Bankrate states that the complaints about this happening is increasing because more and more customers are feeling the affects of it. In years past some credit card companies and lenders would not implement this practice. However, with tougher times affecting all businesses, they are resorting to “old” practices such as universal default.
An example of this would be if you had a debt owed to creditor A, and you fell 30 days late on it. Creditor A could call up creditor B to inform them that you fell behind on their debt. Because of what creditor A said, creditor B (who you are currently paying on time) could increase the interest rate you are being charged. This is legal because of the tiny print in your creditor agreement where it talks about universal default. Basically it gives the creditors a right to adjust the interest rate on any of your creditors if you are 30 days or more late on another one. In years past this provision was in loan agreements, but not always enforced.
Word to the wise….. read all the fine print and ask lots of questions before doing any new loans or debts.
Leadile Lead Exchange can help those customers that maybe get in the situation where they get behind on their accounts, because of situations like this.

Have you joined the texting revolution? If you haven’t, you are behind the times. Some surprising numbers have been released, and I cannot believe how much texting is going on. How many text messages do you believe were sent this year in the month of June? Would you believe 75 billion? Last June, 29 billion were sent, so texting has increased by 160%. Mobile data revenues for the first half of the year rose to $14.8 billion which is up 40% from last year. Mobile data now accounts for one-fifth of all mobile revenues.

Now a word of caution to advertisers — don’t just start sending a bunch of text messages. Recent studies indicate that internet users that have opted in to receive marketing messages, do not want to receive those messages via text. Only 1% of this group prefers to receive marketing text messages. It is important to use marketing text messages where appropriate, and most importantly, welcomed by mobile users.

We all say…. ” I would never get a payday loan”, however do you realize who the standard payday loan customer really is? According to paydayfacts.org, there are some common factors about those taking out a payday loan.

1. The majority of payday advance customers earn between $25,000 and $50,000 annually.
2. Sixty-eight percent are under 45 years old and only 4 percent are over the age of 65.
3. Ninety-four percent have a high school diploma or better, and 56 percent have some college or a degree.
4. Forty-two percent own their own homes.
5. The majority are married and 64 percent have children in the household.
6. One hundred percent have steady incomes and active bank accounts, because both are required to receive a payday loan.

Do any of these statistics surprise you? At one point of another we will all go through some sort of hardship, and potentially a payday loan or other short term loan might be your saving grace.
Leadpile Lead Exchange understands there are many people who need a little extra “help”, in receiving a payday loan. We generate thousands of payday loan leads each day, and these people I am sure really need the assistance.