Leadpile's Blog» Lead Verticals

Hope for the Payday Industry in Arizona?

Natasha Aronov — Mon, 15 Mar 2010 21:23:01 +0000

Arizona may have good news for the Payday loan industry this week as an amendment will be heard on Tuesday at 1:30pm. Adjustments suggested would restrict the number of loans a person could take out at one time, allowing fees of $15 per $100 borrowed, and also allowing the consumer to cancel the transaction if the borrowed money is returned within two business days. The amendment would require businesses to give at least 1.5 % of the fees it collects to “organizations that provide services to low-income and moderate income individuals” in their community.

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.

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!

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….

Broadview Security & Leadpile Team Up!

Mari Holt — Wed, 10 Feb 2010 03:26:47 +0000

Leadpile is excited to roll out a brand new exclusive offer with Broadview Security. We are looking for publishers that can drive traffic to our offer-nationwidehomesafe.com. This offer helps to bring together those consumers that are looking to help keep their homes safe and secure. The typical consumer that this is great for a security system is someone that maybe just purchased a home, a family that has welcomed a new addition, or simply anyone that is looking for a great way to keep their things safe. If you are a publisher that is interested in working with Leadpile to help bring together consumers looking for a security system, reach out to us and get started NOW!

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?

Arizona Payday Loan Bill Delayed

Natasha Aronov — Thu, 04 Feb 2010 14:09:51 +0000

As a follow up to our past entries regarding the payday loan industry in Arizona, the bill that would allow lenders to continue offering payday loans has been delayed.

According the azcentral.com the bill was pulled out of a hearing agenda recently. Republican Rep. Andy Tobin supporting the bill said that currently it does not have enough support, but vowed that more support would be gathered and the bill would be brought back.

Currently payday lenders are operating under a temporary exemption from Arizona’s 36% cap on annual interest rates. This exemption is set to expire on June 30th.