Leadpile's Blog» Financial

Leadpile Partners Up With Lender To Help Military

Mari Holt — Fri, 12 Mar 2010 03:32:41 +0000

Leadpile works a lot in the payday loan industry, with regards to trying to connect those that are looking for a payday loan and those that can provide these short term loans to the consumers. However, if you are in the military you do not qualify for these types of loans, therefore there are alternatives that are offered to these consumers. Leadpile is excited to partner up with a lender that can help service these individuals. We are looking for publishers that can help us generate more of these leads.
This is what we are looking for in these leads:
Nationwide, “active duty” Military (no reserves or government employees) only, consumers must be looking for a $500+ loan, no daily caps and there is no restricted delivery schedules.

There are several ways to generate these leads:

* MicroClick Forms
* MicroClick iForms
* Banners
* Text Links
* “On Exit” Ads
* Open Market

If you are a publisher and looking to help provide these sorts of short term loans to members of our military, reach out to us!

Car Title Loans Change in Virginia

Natasha Aronov — Wed, 10 Mar 2010 14:29:04 +0000

A new bill has passed in Virginia setting new guidelines for car title loans. This bill will enforce caps on interest rates and loan terms which is something that has not been done before. Similar to a law in Tennessee the loans are restricted to a year in length, restrict the loan amount to half of the car’s value in addition to preventing new interest being added onto the loan once the car has been repossessed. A tiered interest rate cap will be put into effect, running from 22 percent per month for a loan smaller than $700, to a maximum 15 percent for loans higher than $1,400.
Car title loans are a topic of controversy lately in a similar way to payday loans. The loans both help consumers who are in need and would not have other options, but can be at times tricky for consumers to understand if they are not taking the time to read the terms. The consumer needs to always be aware of the terms of the loan and the interest rate they will be paying. If applying for a loan, being as educated as possible can help the consumer know all options available and prepare/make a plan to use the loan responsibly.

Leadpile & Live Transfer Payday Loan Leads

Mari Holt — Thu, 04 Mar 2010 05:17:30 +0000

It is official…. Leadpile has teamed up with Payday loan lenders to help deliver real time, qualified, payday loan customers to their institutions. In an effort to try and connect as many people as we can with the payday loan lenders, we have rolled out the “NEW” payday loan live transfers.
Business rules/filters we will capture before transferring the payday loan customer:

1. State the customer lives in.
2. Do they have a checking or savings account, if so which one?
3. How many outstanding payday loan(s) does the customer have?
4. Other filters such as the consumer’s income, do they have direct deposit, or employed by military and more!

If you are a payday lender and looking for unique consumers transferred to you, simply contact us and we will help you connect with those consumers that are needing a payday loan.

Sad News For Home Buyer Tax Credit

Natasha Aronov — Wed, 03 Mar 2010 05:31:09 +0000

The home buyer credit which was expected to boost sales and encourage buying with an incentive of a $6,500 tax credit, is not performing like had been expected.
The tax credit which offered up to $8,000 for people who had not owned a home for three years, had increased sales in the summer and fall of 2009. This credit was extended past it’s initial limited time with a slightly lower credit of $6,500 in hopes of keeping the buying momentum going. Unfortunately, the new credit is not boosting sales as it was hoped to with the unemployment rate still high and the economy still uncertain. Many potential buyers also face the dilemma of selling the home they are currently in before being able to purchase a new home… and for many selling a home where they owe more on it than it is currently worth, this is not an option.
To qualify for the $6,500 credit:
*Buyers must have owned and lived in the same home for five consecutive years out of the past eight.
*Buyer must sign a contract by April 30, and close before June 30.
*The home’s purchase price can’t exceed $800,000 and it must be used as a main residence. *The income limit for single taxpayers is $125,000 and for a married couple $225,000.

Updates for Wisconsin Payday Loans…

Natasha Aronov — Fri, 19 Feb 2010 08:01:52 +0000

In Wisconsin, the state Senate is being asked by the Assembly Speaker to avoid delay with moving forward with the legislation regulating payday loan companies. It has already been approved recently by the Assembly to limit the size of loans, restrict consumers from taking out more than one loan at a time, bans auto title loans completely as well as “rolling over” the balance of a previous loan.
A Senate version of this bill includes a cap on interest rates, however the Assembly rejected this bill as they believe their version does enough.
There are currently over 500 payday lenders in the state of Wisconsin.

LeadPile will continue to keep you posted on changes…

Positive Changes For Consumers In Debt!

Natasha Aronov — Wed, 17 Feb 2010 08:00:17 +0000

Changes to fees and terms may be positive for many consumers struggling to pay their bills! New rules obtaining to overdraft protection requires consumers to specifically request it, rather than being automatically enrolled in it. According to the Credit CARD Act, should the consumer enroll for overdraft protection, fees can only be applied once during a billing cycle and the card company must notify the consumer of the amount. These new overdraft rules only apply to debit cards, not checks or electronic transfers.
Consumers now are given 21 days to send credit card payments in, rather than only 14, and if changes are made to terms, 45 days notice must be given instead of 15. This change does not apply to reducing your credit limit, the credit card company can do this at any time without any warning!
One new change might be scary for many consumers to see, but after the initial shock sets in, the overall perspective will hopefully ultimately help consumers in the long run. Effective starting February 22, credit card bills must make it clear how long it will take the consumers to pay off the balance, and how much interest will be paid if the minimum amount is all that is paid each month.
While there is no current cap placed on increasing interest rates, credit card companies are required to give customers 45 days notice on changes and may not raise the current interest rate on customers existing debt unless payment is more than 60 days late on payment. Additional help to consumers trying to pay off debt, additional fees for paying over the phone, electronic transfer, or mail are no longer allowed and universal default for existing credit card balances may no longer be practiced. The Credit CARD Act has now made is more difficult for college students to obtain credit cards, someone under 21 may not be offered a credit card without a co-signer or proof of proper income.
LeadPile matches consumers in debt with Debt Consolidation, Debt Settlement and Bankruptcy companies daily. Debt is a huge source of stress for many people, hopefully the new Credit CARD Act will help get people back on track and become more aware of their own debt, and make plans to get things paid off!

Changing Times, Rising Economy?

Natasha Aronov — Tue, 16 Feb 2010 06:38:01 +0000

As the economy has began to rise out of it’s rut, companies have been hiring temporary workers to get them through without initially handing over the large cost of hiring full time workers. In the past, this has been a symbol that permanent hires are in the near future and that the economy is on its way back up, however this might not be the case this time.

According to msnbc.com economists and business people say that employers are lacking confidence that the economy will continue to get better. The current economy is believed to be fragile and unpredictable.
In the 90’s, temporary hiring launched the quick return of job creation and permanent hiring, as well as in 2003 this was shown once again. For people who are not employed, temporary jobs help feed families and give people pay checks who have been unfortunate and lost jobs.
In a time where to have any job is good news, hopefully the temp jobs will keep coming and eventually turn into long term permanent employment.

It’s Tax Season!

Natasha Aronov — Mon, 15 Feb 2010 19:55:52 +0000

It is once again that time of year to start thinking about getting your taxes done. Uncle Sam is ready to collect his money, unless you are one of the lucky ones and expecting a return. Whether or not you owe or are owed money, there are both pros and cons to filing your taxes early.
The IRS officially starts accepting returns as early January and gives you the choice to file as soon as your W2 and 1099s are received.

Advantages to filling early can be:
*Receiving your refund faster
*Getting it over with
*Avoiding crowds and long lines at the post office
*Avoiding the possibility of being late, and owing more
*Giving your self time incase you realize something is more complicated that originally though

Advantages to waiting to pay your taxes until they are due:
*Maximizing your interest by keeping the money you owe in an interest-bearing account until April
*Possibly decrease your chances of being audited. Some think that it’s best to put your taxes off until the very extreme, and this will lessen your chances of being audited
*Tax forms can sometimes be updated during the tax season, the changes might not be reflected yet if you file early

If you are receiving money back it may be hard to wait, lending out your money to the government interest free is very nice, but not something that we all want to do for extended periods of time. If you are going to have to pay, it might be worth the wait!

Payday Loan News In Wisconsin

Natasha Aronov — Fri, 12 Feb 2010 03:57:56 +0000

Changes to the Wisconsin Payday lending industry could be very close. A vote by the Assembly Committee 6-5 supports the bill that would place restrictions that would cap Payday loans at $600 allowing borrowers to only take out one Payday loan at a time. Auto title loans will no longer be offered when/if this bill passes. A vote to pass this bill could happen as quickly as next Tuesday. Concerns have been raised about a $1 fee for each transaction to pay for statewide database to track the loans. According to the Associated Press, Republicans argued the bill was flawed and the public should have more time to consider the plan unveiled late last week. Leadpile will be watching….

Higher Interest Rates, Lower Lines Of Credit!

Natasha Aronov — Tue, 09 Feb 2010 04:27:50 +0000

As if consumers do not have enough financial stress to worry about, the credit card companies are decreasing credit limits and increasing annual percentage rates. Due to the high number of people without jobs and suffering financial hardship, the credit card companies have had billions of dollars worth of losses. To attempt to fill in the gap, the card companies are making changes effecting card holders who are behind in payments in addition to card holders who have always paid their bills on time and have a perfect history. Credit cards have in the past always been issued to people with an interest rate and credit limit based on their specific risk to default.
With the economy in the state that is has been and many people with additional debt, consumers have been forced to use their credit limits, now faced with paying off balances with interest rates that have doubled or tripled.
According to msnbc.com we are entering a new “era” for credit cards. Previously as many of us experienced, credit card offers would appear daily in your mailbox, each with enormous credit limits and interest rates that were so competitive that it made applying for the card hard to resist. Many people who “couldn’t resist” are now paying for it with the increase in interest.
Possible changes in the near future…The new Credit Card Bill of Rights. The American Bankers association has stated that the new law will limit the amount of credit that is available and it will come attached to a higher price tag. In theory, consumers will have a better idea of long term costs and terms with the new law and will allow them to make more educated decisions.
LeadPile currently helps match consumers with unsecured debt such as credit card debt with debt settlement and debt consolidation companies, but what will change in the future of credit card debt if there is a “credit card bill of rights” that gets passed? Will it really affect anything? Who will feel it the most?