With the way the economy is going right now, any resource to be able to get money is potentially what all Americans are looking utilizing at some point. One resource for quick cash is the payday loan, and Leadpile works a lot with this industry and understands that there are a lot of consumers out there that truly have no other resources to get a short-term loan. Therefore, they turn to short-term loans like payday loans. Some criticize this sort of “temporary loan” as not the best option, however each person is different and each situation is different. This means that the solution to getting out of a “tough situation” could be different for each person. Some have chosen to not seek out a payday loan or have previously utilized them unsuccessfully and now are turning to pawn shops.
Pawn shops are seeing increased traffic in their stores because of consumers that are looking for that “other” option. The other contributor to more people visiting their local pawn shops is the History Channel’s television show Pawn Stars. Some see this option as more attractive than something like an auto title loan because they do not have to forfeit the rights of any collateral. No matter what your circumstances are financially, making sure to look at all your available options is key. Everyone should weigh the pros and cons of each solution.

Who will be holding the “control button” for short-term loan companies like payday lenders and auto title loan companies? Payday lenders are keeping an eye on particular states that have implemented payday loan regulations, however many thought the recent financial regulatory bill would supersede the states decisions. This is better news for the states that want to have control over the lending practices that their state payday lenders conduct. What will be the future of individual state lending practices? Will states continue to fight to be able to control what their residents do? Many are keeping an eye on this, and we will be keeping an eye on things ourselves. Leadpile works a lot with payday loan lenders and hopes that any changes that happen will result in positive things for both the lenders AND many consumers that need payday loans. Stay tuned……..

Payday loan lenders are not going to be happy with the Wisconsin governor because of a recent bill he just passed. Unfortunately, this governor felt the need to pass a payday loan bill that will put tighter restrictions on the payday loan industry. In addition, he even threw something in the bill that is also going to put restrictions on the auto title loan industry too.
Each of these states putting more and more regulations on payday loans is going to leave consumers with no resources to help them. Where are consumers going to go now, in order to get help with small unexpected bills that come up?

It looks like the payday “police” have hit Colorado. There is a proposed payday loan bill that would put an interest rate cap on payday loans. The reasoning behind this bill is that some Coloradans believe, “that excess interest rates can lead Colorado families into a debt trap of repeat borrowing”. There are three separate proposed bills. One would put the rate cap at 18%, another at 28% and another proposed bill putting the rate cap at 36%. The unfortunate thing about these sorts of bill is that the potential rate caps would hurt the payday lenders and potentially not allow them to stay in business. This would then hurt consumers who are looking for a much needed payday loan. We will all be watching the outcome of these proposed bills.

LeadPile is excited to announce some new and improved changes to the seller account! These changes will help publishers locate the offers much easier.

Check out these new features under the offers tab:

*Click on the “Search Offers” tab to find all the available offers
*Clicking on “Available Categories” or entering key terms into the “Search Offers” box will bring up all of the current offers
*Top and average payouts are listed next to each offer
*MicroClick Forms, MicroClick iForms, Banners, Text Links, On Exit Ads and On Side Ads are all available for you to choose from.
We are always looking for new publishers, or even current publishers that are not currently generating leads, to get started! A great publisher site that Leadpile has helped out on is usainstantpayday.com. We can help with your site too if needed!
We are seeking more leads and traffic for payday loan, auto finance, business cash advance, Broadview Security system, New Millennium Bank, bankruptcy and more!

As a follow up to our recent posting regarding Arizona Payday loans, the Senate Appropriations Committee voted 5-3 against the bill that would have allowed lenders to continue offering the high-interest short-term loans with the proposed adjustments to the rules.
In Arizona there are currently 596 Payday Loan businesses that provide employment for 2,500 people. The risk of these people losing their jobs is high, as well as loan customers will have to turn to most likely more expensive options to receive quick cash short-term loans.
The bill would have allowed fees of $15 per $100 borrowed, restricted the number of loans an individual could take out at one time and allowed a customer to rescind the transaction if the money was returned within two business days.
LeadPile will continue to keep a close eye on this and keep you updated on any new developments or possible hope for the AZ Payday industry!

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.

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….

A new payday loan law has taken effect today in South Carolina. This new law was passed with the intent to protect consumers, however it seems that it actually has an ability to hurt consumers that already have an outstanding payday loan. A local SC news channel is reporting, “The new law limits consumers to just one payday loan at a time. It sets up a statewide database, starting Feb. 1, to keep track of all payday loans to prevent anyone from having more than one. But the database will not include past payday loans that are outstanding as of Feb. 1.” So will something like this prevent lenders from staying in the state of SC? Hopefully not.. because people in SC I am sure still need payday loans even though a new law was passed.

A year ago in New Hampshire payday and title loans were outlawed to “protect” consumers from the interest rates. This however did not completely stop all lenders from being able to offer additional types of short-term high interest loans to consumers.
Today the house will vote to amend the proposed bill which would put a 36% cap on annual interest rates, including some fees for any loan under $10,000. This would apply to loans and personal lines of credit. According to the Concord Monitor the vote is for a bill meant to close what some consider to be a loophole in the law. As there as been much controversy and disagreement regarding the bill which was originally discussed in the house two weeks ago with a recommendation that a bipartisan majority believed the bill to be overkill. The new proposed amendment to the bill would cap the interest rates at 36% while allowing additional membership fees, late fees and participation fees. These fees could only be charged one time and the banking commissioner would have the authority to determine what fees are fair.
Often time consumers with bad credit or in a time of need have no where else to turn for a quick loan and these lenders were filling the demand for these loans. If the loans were taken away, this would leave many people without other options. Hopefully, a decision can be agreed upon that not only has the consumers best interest in mind regarding the interest rates, but also in times of need and being able to access quick short term loans when necessary. Leadpile is watching what happens in NH………….

As of January 1st 2010, a new payday lending law was imposed in Washington. “The new law limits the size of a payday loan to 30 percent of a person’s monthly income, or $700, whichever is less. It also bars people from having multiple loans from different lenders, limits the number of loans a person can take out to eight per 12 months, and sets up a database to track the number of loans taken out by people.” This will be something that lenders will now have to pay attention to.
Leadpile will be watching the status of Washington and payday loans, because we work with publishers nationwide, and we will be interested in any legal changes that happen in this particular state.

Steve Beshear, Governor of Kentucky, has renewed his efforts for putting an interest cap on payday loans. The new limit that Steve Beshear would want in place is 36% for every $100.00 lent. This is the same cap that people in the military have on their payday loans. The main reason for the cap is because of the hard times that residents in Kentucky are having just to put food on their tables.
Currently, no new payday lenders are even allowed to open in Kentucky (the state has 743 lenders at the moment). Some believe that such a restricted cap will cause lenders to go out of business. What do you think?