Leadpile's Blog» Lead Verticals

Payday Loans. . .Good or Evil?

Jolene Phipps — Wed, 16 Nov 2011 14:39:49 +0000

When you hear the words “Payday Loan” what comes to your mind?

Do you think of an industry out there taking advantage of consumers?
Or, do you think about an industry providing people with relief and peace of mind during this financial crisis?

Most people would say answer a. But is that true or do we need to educate ourselves regarding this part of the financial industry? Who are the people that need these payday loans and do they have other options?

According to www.census.gov the official poverty rate in 2010 was 15.1 percent, which was up from 14.3 percent in 2009. In 2010, 46.2 million people were in poverty, which was up from 43.6 million in 2009.

Those are staggering numbers. People are having a hard time making ends meet. From 2009 to 2010 an additional 2.6 million people were at poverty level. Where did they come from? Middle Class families? Low Income families? Who is out there helping them get back on their feet? The banks? With the foreclosures on homes, the increased account fees, overdraft fees and high credit guidelines… what do you think?

What sort of monthly expenses do all of us face? Rent/Mortgage, utility bills, insurance, car payment, food allowance just to name a few. If you are running out of money at the end of the month what would you sacrifice? Your electric bill? Your rent? Your car loan? Or just overdraft your bank account? All of those choices involve late fees or overdraft fees and may incur being harassed by credit agencies or having your electricity turned off, being kicked out of your home or having your vehicle repossessed. None of those sound like viable solutions to me.

According to www.wikipedia.org the definition for a payday loan is “a small, short-term loan that is intended to cover a borrower’s expenses until his or her next payday.” That is truly what a payday loan is there for. Many times you will hear payday opponents talk about high interest fees, but when you research these fees in comparison to bank charges and late fees of missing necessary payments and/or possible repossessions/foreclosures/losing electricity, going hungry etc. – which sounds better to you?

So before we judge the financial institutions giving payday loans or the people receiving such loans – let’s make sure that we look at the situation from all angles, and form an educated decision.

Gas Prices On The Decline

Christina — Fri, 21 Oct 2011 21:58:05 +0000

Gas prices have dropped nearly a cent daily for the past 4 weeks according to a recent survey. Some states coming in at $3.00 per gallon, while California is still hovering the $4.00 mark. A major factor in gas prices are state tax. California and New York have tax rates of nearly $.50 per gallon which keep overall prices inflated.

Two other factors in gas prices are proximity of refineries and how much people can afford to pay.

Hopefully with gas prices lowering consumers will be more likely to purchase new vehicles! Leadpile has high demand for Auto Finance leads with high payouts. Contact your account rep or support@leadpile.net today for details.

Payday Loans In Washington In Question

Mari Woods Holt — Wed, 27 Apr 2011 03:07:47 +0000

It seems that a lot of people in the state of Washington are concerned over the internet lending industry, but my worries are that they are not doing enough research before applying for an online payday loan. Just as in Washington,there are businesses all around the internet that are not legitimate. It is the job of consumers to educate yourself if you are providing your personal information to a website. There are numerous legitimate websites out there (including Leadpile’s) that allow a consumer to securely request a payday loan. If you are a consumer and needing that extra short term cash, do your homework on the website you are filling out your information and make sure you are completing an online form that is secure. If there are issues in WA, there are potentially issues all over the US, but a lot of this lies with the consumers and knowing what you are doing. Knowledge is power for consumers!

Payday Loans-A Perfect Option For Many

Mari Woods Holt — Wed, 30 Mar 2011 16:19:22 +0000

There is a lot os scrutiny on payday loans and what their purpose is. However, many turn to these short term loans because they have no other option. These loans are overly scrutinized as bad for a consumer because their listed APR, which really is not applicable to a short term loan that does not last a year. The Missourian pointed up some positive benefits to the payday loans. For instance, “Research from the Federal Reserve Board indicates that such loans are not “predatory.” Rather, by supplying credit where otherwise there would be none, they help borrowers by enabling them to avoid less-desirable alternatives, such as fees associated with bounced checks, late bill payments and utility reconnections.” If the Federal Reserve Board understands there is value added to these types of loans, why are so many politicians and consumers looking down on payday loans as a “bad” option? Have they never had a reason to get a short term loan for some unexpected expense???? Probably not….

Canada Payday Loan Leads

Mari Woods Holt — Wed, 23 Mar 2011 20:41:22 +0000

Leadpile is looking for additional Canada payday lenders and also publishers that can help us generate additional US and Canada payday loan traffic. If you are working in this industry, please reach out to us and we can get you up and going ASAP! Some of the main specifics we are looking for in the Canada payday loan leads are:
1. Customers that are employed
2. Customers that have a checking account
3. Customers that have direct deposit
4. Preferably customers that live in the providences of British Columbia, Alberta or Ontario

Possible Changes With MS Payday Lending Laws

Mari Woods Holt — Wed, 19 Jan 2011 20:17:06 +0000

Sounds like there might be some talk in Mississippi to potentially try and make some changes to the payday loan process. As we all know these short term loans are a necessity for many individuals, however some states are trying to incorporate stricter laws for the lenders. This is what appears to be trying to happen in MS. The proposed amendment would allow all consumers at least 28 days to pay on loans of $201 to $500. On loans of $200 or less, the $21.95 fee would be reduced to $20, and consumers would have up to 21 days to pay. The positive thing that this particular house banking committee chairman said was they are trying to help the consumers, but not get to a point where they are trying to put a legitimate business out of business (the lender). This seems to be something that more states should focus on. How can we continue to make sure the consumers are protected, but also allow them to get these short term loans…. and not put the lenders out of business. We all know consumers need these loans and some never expect they will be one that is in dire need of a short term payday loan, but for those situations where needed these loans must remain available to consumers. In order for loans to remain available to the consumers, we must also protect the lenders that are extending these loans. Stay tuned to see what happens with this MS amendment.

Affiliate Summit/ASW & Leadpile

Mari Woods Holt — Wed, 12 Jan 2011 21:07:40 +0000

It was another great Affiliate Summit for the Leadpile team. We are now returning from ASW and are excited to move forward on all the great things we discussed with our partners. Unfortunately, we did not have time to meet with all those publishers and advertisers that we wanted to, however if we were unable to connect with you, please reach out to us to get something going!
Leadpile’s message this Affiliate Summit was for the excitement we have for 2011 and all the exciting new things we are going to be getting into. Leadpile is looking at getting into some new verticals such as insurance, senior care, and credit reports (which is already live). We are currently working in bankruptcy, auto finance and payday loan lead types, and we are looking for lots more traffic on all of these verticals. The sky is the limit in 2011, and if we are not already working with you, we definitely want to!

Say Bye Bye Social Security Checks

Mari Woods Holt — Wed, 29 Dec 2010 16:10:21 +0000

In the age of paperless everything, this article I came across does not surprise me. It was announced that beginning in 2011 new payees of Social Security, SSI, Veterans Affairs and Railroad Retirement income will be required to receive their payments through either direct deposit or debit cards. Say bye bye to the Treasury department printing checks and mailing them. Unfortunately, those that are currently receiving these mailed checks will have to change up how they receive their payments by March 31st, 2011. This is going to be a huge money savings for our Treasury department, however it creates a few questions about the inconvenience this could cause those elderly individuals who have been receiving mailed checks. Will the elderly struggle with this because they are used to getting the mailed checks? It seems that the Treasury department will make exceptions if there are consumers that still must receive the mailed checks.
The peculiar thing about this article is it goes on to point out that this sort of new payment method might create additional victims of payday loans. However, I am not sure how this is applicable to those consumers that are not working and receiving this sort of income. Payday lenders do not generally lend money to those that are not working because of the inability to set up repayment programs etc. Payday loans are short term loans that many need, however those that are retired and receiving income such as SSI, are not even eligible for these types of loans.

Leadpile Holiday Auto Offer

Mari Woods Holt — Wed, 08 Dec 2010 15:22:12 +0000

Tis the season to be jolly! Many are looking for that perfect gift to buy that special someone. Leadpile has the offer for those publishers and networks that are looking at connecting those consumers with the auto dealership. We will accept banner, email, PPC, SEO and contextual traffic. If you have auto finance traffic, contact your affiliate manager today!

Hot New Holiday Payday Loan Offer

Mari Woods Holt — Wed, 01 Dec 2010 15:04:13 +0000

CALLING ALL PUBLISHERS!!!!

Leadpile is looking for additional traffic to our holiday payday loan offer. This is the time of the year when trying to match up those consumers with the much needed holiday cash is important. If you are looking at generating additional revenue during this holiday season, reach out to your Leadpile Affiliate Manager. We will accept PPC, SEO, email, and banner traffic to this offer. Payouts are up to $96.00!