Leadpile’s Blog

Going a day or two without hearing something on the news about our unemployment rate or consumers buried in credit, has not really happened lately. So it really was not a surprise for me to see MSNBC.com reporting that, in the month of September, there were almost 125,000 bankruptcy filings. This is one of the highest months ever, since the bankruptcy laws had changed back in 2005. We are all waiting to see if the housing market is really starting to become more stable, and this then could help us to see this bankruptcy filing statistic go down, not up. It’s like a domino effect, once the housing market truly becomes stable, more people will hopefully be keeping their jobs because our nation’s consumers will begin to feel okay to spend money to keep our businesses open.
Leadpile will continue to monitor the legal industry, and will continue to try and connect some of these consumers needing legal help. Sometimes it is not a matter of filing bankruptcy, but just a case where someone needs to be connected with someone that can give them some much needed advice. Leadpile is generating bankruptcy leads, and will continue to do this as long as there is a need for these consumers to get help online.

To my surprise Visa Inc is reporting that US consumers are using their debit cards more than their credit cards. I find this surprising because it seems for years and years consumers have been using more and more credit cards, and getting more and more in debt. The debit card however is a new facet of spending in the fact that it utilizes money you have, not money you don’t have. However, any time you purchase something online you are advised to use your credit card because of the fraud protection policy. Does this mean the fraud policy is not the same on your debt card as the credit card? It seems not, but why is that? NPR.org goes on to point out that these two cards are very different if the cards are stolen. Why would laws be so different for something very much used in a similar fashion? In reality, credit cards are worse to use for the consumer, so why is there more protection to the consumer? Credit cards cause more long term damage such as having to then look to consolidate or settle debts, or even file bankruptcy. Maybe the banks should look at becoming more uniform with what the credit card companies are doing to protect their clients….
Then again, do the banks make any money on debit card purchases… they certainly do with the credit card purchases.

With all the talk about foreclosures and people buried in their credit card debt, we have failed to talk about all those that can not afford health insurance (uninsured) or those that are underinsured. Bankruptcy is easy to think about it being related to someone having to many credit cards, and then something life changing happened that forced someone to not be able to pay their debts. However, a lot of today’s bankruptcies are not necessarily from credit card debt, but from health care bills.
A recent study shows, bankruptcies that were due to medical debt rose 50 percent from 2001 to 2007. Older consumers are the ones getting hit the hardest. The elderly are unfortunately forced to retire prematurely, have not enough insurance to cover all their bills, or simply do not have any insurance. In a previous blog post I had discussed this painful problem, however things have not gotten any better for our elderly.
Part of this study involved a telephone survey. The telephone survey revealed that 41.8 percent of interviewees specifically identified a health problem contributed to their bankruptcy, 54.9 percent cited medical or drug costs, and 37.8 percent blamed income loss due to illness. Overall, 68.8 percent cited at least one of these medical causes. An additional 6.8 percent had recently borrowed money to pay medical bills. Not only is this a potential insurance related issue, but it is an issue regarding bankruptcy and consumers having no other option but to file bankruptcy. What else do they do?
Leadpile works with the bankruptcy lead type, and this is very much a lead type we have a demand for more buyers to help provide this much needed help to the consumers.

Countless people in America have been affected by the financial crisis. Jobs have been lost, layoffs continue, and people need help. Creditors have been left behind, and are harassing people to settle their debts. Many people are turning to Bankruptcy to put themselves in the position to move forward on their lives.
Bankruptcy is a legal proceeding where a person petitions the court of law and declares his inability to pay off outstanding debts. Typically, BK protects the individual from the creditors. LeadPile is the Nations’ Leader in bankruptcy leads
The United States Bankruptcy Code outlines three primary types of bankruptcy:

• Chapter 7 is the most common and it stipulates that the debtor should sell his non-exempted assets and turn over the proceeds to the creditors.
• Chapter 11 is ideally for business merchants who wish to restructure what they owe others and keep the business running while paying off their debts after an agreed upon duration and amount.
• Chapter 13 – This is a typical debt consolidation plan for consumers.

With so many individuals needing to file bankruptcy, they are going online to find more information. It is for this reason that The LeadPile Lead Exchange is your primary source for Bankruptcy Leads

We all have a grandma and grandpa that we like to go visit. However, the last thing we want to see is them struggling to pay their bills. Unfortunately, with the reduction in income, increased health problems and sometimes loss of full medical benefits, many elderly are facing hard times in their later years. According to MSNBC, the older the individuals get the higher risk they are at potentially filing bankruptcy.
In 2007, 22% of the bankruptcies filed were those individuals that are 55 years old and older. The number of bankruptcies filed by younger individuals actually dropped. There could be various factors that are contributing to this increase in bankruptcy filings for 55+. For example, consumers could be retiring at a normal age, however entering retirement with a lot more outstanding debt then in years previously. Also, increased cases of fraud happening in this country has also affected the elderly, who tend to be targets of scammers.
Eldery or not, consumers survive through life and hard times with credit cards and other forms of debt. Unfortunately, that catches up to everyone at some point or another. Bankruptcy is one option consumers have, but also services such as debt consolidation, debt settlement, refinancing your home and taking cash out, which should be attempted before resorting to the bankruptcy option. Leadpile Lead Exchange deals with all these lead types and fully understands companies need leads of these individuals to assist.
Let’s all try to take care of our grandmas and grandpas!