Time is running out for consumers to read up on all the popositions being presented to them on the November 4th ballet. One thing that is being voted on in the states of Ohio and Arizona, is in regards to payday loans.  How much does everyone really understand about payday loans?  One myth I thought very important to point out:

Myth:  Payday lenders hide fees and mislead consumers.

Fact:  Just like any other service or loan you obtain, there is a cost to do get that loan or service.  In addition, any payday loan you take out there will be a cost to taking out the loan.  According to the CFSA website, “The cost of a payday advance is fully disclosed to customers on signs in the stores and in disclosure agreements. Moreover, in accordance with the Truth in Lending Act (TILA), the terms of the loan are clearly outlined in the lending agreement. Payday advances involve single, flat fees and there are no hidden charges, balloon payments or accruing interest. CFSA members also provide an educational brochure emphasizing responsible use of the product and offer a free right of rescission should the customer change their mind.”

CFSA also went on to say that in a recent survey 96% of the people were aware of the fees associated with taking out the payday loan.  Just like with any other loan, there are documents presented to the consumer with all the fees of doing the loan in black and white.  Are people sometimes just so anxious to get a loan, that they do not take the time to read the documents they are signing?

Leadpile Lead Exchange wants consumers to read everything before agreeing to take out a payday loan, or any other loan.  Knowledge is power!

The payday loan industry is getting a lot of attention, especially in the states of Ohio and Arizona. Those on the outside possibly do not fully understand the payday loan industry and there are some misconceptions about the short term loans.

Myth: Payday loan lenders do not want to be regulated.
FACT: According to CFSA, this is quit the contrary. Most payday lenders do want to be regulated and have certain industry guidelines. However, there are those that are trying to eliminate the industry as a whole, and not deal with keeping the “good guys” in business.
Currently, there are 37 states + the District of Columbia that have payday regulations. CFSA is working on trying to get regulations implemented on the remaining states, however they are not wanting to see the industry go extinct. Therefore, the question is… why is the payday loan industry going through such tough scrutiny, when in comparison with credit cards and other financial services there are similar costs/fees associated with them?
Leadpile Lead Exchange understands there are a lot of myths about payday loans, however the key is for those that are not fully educated on the industry, to read up to fully understand all aspects of this financial product compared to others. There is good to these types of loans, and they are sometimes very much needed.

We all hear the opinions on both sides regarding payday loans. I came across this scenario that really points out the similarities of taking out a short term payday loan and renting a car. According to Ohioans For Financial Freedom commercial (youtube video),

Renting a car can cost about $29.00 per day. But imagine if the government required the rental company to quote an annualized cost of $10,585!

It’s just like the government saying that a $100 emergency loan costs $391 for the entire year, when it only costs $15 for two weeks. If you only need the loan for two weeks.—the yearly rate is absurd.

Leadpile Lead Exchange deals a lot with payday loans, the consumers wanting them and the lenders wanting to provide the loan for them. This scenario I found really makes it a little bit easier to understand the comparison amongst payday loans to something like a credit card or a rental car. There is bad in everything if it is abused. There is a need for short term loans sometimes, and a payday loan is a reasonable loan to take out for that short term need.

With all the regulations going on with different states, I thought this was an interesting article about the effects banning payday loans had on consumers in NC. According to The Community Financial Services Association (CFSA) website, banning payday loans in the state of NC is affecting consumers. The reality is that most that are trying to get rid of payday loans in these different states, have never needed a payday loan.
Understanding fully what payday loan consumers are going through, does not seem like a reality to those trying to ban them in the different states. Do those that are trying to ban the payday loans understand what taking them away is going to do? Do they understand that some credit cards are a much more expensive option for the consumers? What are some other options available to consumers in place of a short term payday loan? Are they prepared to offer these other alternatives to the consumers, to help them get out of this temporary situation?
In the state of NC, there seems to be some effects with the fact that payday loans were banned there. According to this CFSA article, “In fact, respondents’ answers to the survey clearly show that the elimination of payday loans in North Carolina did nothing about the demand and forced consumers to replace payday loans with costly, less desirable and even dangerous options.” Overall, states with either pending regulations or those states trying to regulate, should maybe look at the overall picture of the payday loan industry. Some don’t CHOOSE to get a payday loan… they might have no other option. Leadpile Lead Exchange understands their are consumers needing a loan to fix a temporary financial situation, and we have the lenders/buyers available to provide that much needed loan to the consumers.

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

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.

The signatures are in……. 422,000 consumers in Ohio signed a petition in order to have the payday lending issue on the November ballot. The governor signed in June a law that puts some limitations on the annual percentage rate the payday lenders can charge. The governor capped the APR at 28 percent, and put a limit on the number of loans customers can take to four loans per year.
Based on the petitions submitted, consumers think they should have the right to make their own decisions when it comes to their personal financial matters. Those that signed the petition also think that allowing the restrictions to go through will force businesses to close and 6,000 employees to lose their jobs.
According to paydayfact.org, all Americans should have the choice to make their own decisions about getting a payday loan. High costs to doing the loan or not, consumers in Ohio want to decide on their own if they need these payday loans. Many Americans are in dire need of some quick cash, and to them these payday loans are the temporary fix. We shall see what the final decision is on this matter come the November election.

In a continuing effort to research all the options consumers have available to them, I came across a type of loan that I have never seen before. The newest and latest way for consumers to get cash is by taking out a cash advance from their home. Currently, consumers that are age 65 and older have often looked at the option of doing a reverse mortgage. This is basically the consumer taking out a loan on their home, but the loan not being paid back till after they pass away. However, it appears there might be another option available to them.
Something new that lenders are looking at is offering consumers cash advances on their home. According to The New York Times, “Owners 65 to 85 with good credit who live in homes valued above $400,000 (above $500,000 in New York and California) can receive a payment of up to 15 percent of a home’s equity.” Something like this costs the consumer no closing costs unlike a reverse mortgage. There are certain stipulations the consumer has regarding the sale of the home, however the simplicity seems to be there compared to doing a reverse mortgage or other lending options. Yet is this a logical choice for consumers? Not everyone has a home valued above $400,000 either.

The options that homeowners now have are:
1. Refinancing
2. 2nd mortgage or lines of credit
3. Reverse mortgage
4. Home cash advance
5. Loan modification

and what’s next?…………………………….

Consumers are looking for anything and everything they can do to survive. Does this mean a potential new lead type for Leadpile Lead Exchange? Let’s wait and learn some more about this new option available.

You need god quality leads… Leadpile has them! I think most people do not realize the different types of leads that we do generate, and the benefits of a lead exchange.
We are currently generating more than 20 lead types.
Some lead types we are generating:
Payday loan
Auto finance
Debt settlement
Debt consolidation
Credit repair
Refinance
Home purchase
Foreclosure
Security Systems
Bankruptcy
Business Cash Advance
Equipment Leasing
Business Loan
Web Design
Credit Card Processing/merchant account
Health, auto, life and home insurance
Car warranty
Student loan loan/student loan consolidation
Credit Card
Home Based Business

If we don’t have the lead type you were looking for, we are always open to new ideas. JUST ASK!
I read a great statement on the Pontiflex blog, stating something about the fact that online advertising (also lead generation) is like drilling oil… either you hit the oil right away or you move on. The key is to diversify what lead types you are working with, and “hitting oil” is more likely to happen. Take risks as a company, get into new lead types, and create new ideas to change up how you work.
There are many lead companies out there that might just focus on a couple lead types, however Leadpile excels because we have so many lead types to meet so many different demands. One of the things we have learned is that making an effective lead exchange, you need to work with various lead types. Really there is just about any type of advertiser we can work with. We are also able to work with the various types of affiliates that are currently out there.
Think-outside-the-box if you are planning on working with us!
You won’t regret it.

According to DMNews, payday lender Advance America has launched a new type of marketing campaign. They are using various marketing campaigns like social networking sites, direct mail, internet marketing and more to try and keep their name in front of consumers who might be going through tough times. They are looking to generate consumers who would like to share their experiences with the company, and other potential payday loan recipients. Advance America is posting all these testimonials on the site www.whoisthereforyou.com for other consumers to be able to read and relate to. They want consumers to understand that others have been through their same type of situation, and Advance America is there for them in these tough times.
This is a great way for a payday company to bring some positive light to an industry that is not always getting the right kind of attention.
A payday lender doing this definitely shows that they do care about their customers!

Hot vertical: BUSINESS CASH ADVANCE.  I have advertisers signing up every single day for this lead.  I need more production! The demand for this lead type is on fire.  The payout is great and we have advertisers begging for them.  LeadPile Lead Exchange is growing rapidly with the B2B category.

A business cash advance does have a few industry standards.  The business must accept credit cards.  They have to be in business for at least a year (even though some companies will do 6 months).  They have to accept credit cards volume larger than 5k. 

Business Cash Advance companies provide working capital against your credit card receivables.  Based on information from my buyers it takes about 8 months for companies to pay back the advance.  This lead type is explosive.  In the blink of an eye its on demand!  

Are other lead gens growing into this lead type as well?  What about aggregators or brokers?  Might be something to talk about over lunch.  With a high payout and a huge appetite on the demand, I’m all for it! Wouldn’t you?