Leadpile’s Blog

CSOs also known as Credit Service Organizations are unregulated companies that are now doing payday loans and other short term loans like auto title loans. It seems that with some recent payday loan regulations, there have been some that have been able to avoid the regulations because they are a CSO.  Credit service organizations offer payday loans and other short term type of loans without any limitations on fees they are charging the consumers.  However, they were initially created to help register our credit repair companies, not necessarily be a payday lender.  According to the dallasnews.com, “CSOs in Texas were originally established to control credit repair businesses; however, in the past few years, small-dollar lenders are operating as CSOs under a statutory loophole that allows them to obtain “an extension of consumer credit” for borrowers.”
Leadpile Lead Exchange works with all sorts of payday loan leads. These are all consumers that are looking for a short term fix to a temporary problem. Based on this article, CSOs are the ones that are doing some of the lending, not necessarily payday loan lenders per say.  Bottom line:  as a consumer understand any loan you ever take out and the fees associated with it.

The holidays are here and more and more of us are getting more and more in debt trying to prepare.  The unfortunate thing is many consumers were already in a bad situation with their debt, and now the holidays are going to add to the mess.  There are various options out there to help consumers with their debt situation. Debt consolidation, debt settlement and credit repair are a few services that help consumers with resolving their debt situation.

Debt Consolidation:  Working with a company that helps you consolidate all your credit cards into one payment.  A lot of companies can even work with the creditors to pause any future late charges or excess fees from being added to the current balance.

Debt Settlement: Working with a company that works with the creditors to get balance settlements.  A certain percentage of the total debt amount is paid, versus the whole amount and the balances continuing to get larger.

Credit Repair: Working with a company to help educate and direct you in the right direction regarding your credit.  There is a lot of information to know about your credit report and how to really optimize getting the most of your credit report.

According to Consumers Affairs, here are some things that determine if you need help with your debt:

Sad days for those in AZ and OH with regards to payday loans.  Many are not sure how these initiatives lost in the voting, however they did.  This is going to affect a lot of brick and mortar stores located in these states.  This is a very large deal, because there are quit a few stores located in these states. Where do we go form here?

According to PDL blog, image might have had something to do with being able to get legislation passed on the payday loan industry. Did the misconception of a payday loan really have that much affect on those that were voting on these propositions, or did voting consumers really not want to have payday loans around any longer?  Now some lenders in these states and going to be closing down some of their stores. So how will this affect the internet payday loan industry? Will it be affected?
The good news is that some of these lenders that will be closing down locations, will now be looking at alternative options to offer the consumers. One of the alternatives is a short term unsecured loan.  This type of alternative will then be able to still provide some assistance to those that are in a temporary situation, but do not have the ability to get a payday loan or any other “bank” loan.

Time will tell.  I am sure all eyes will be on this industry to see if this recent legislation will affect what direction other states pursue……. or if there is a way to “try again” to get this legistration overturned.  Leadpile Lead Exchange realizes that there are consumers that really need assistance with their unforseen debt/bills.  We will continue to try and match up those consumers with the lender that can help them take care of this issue.  Loan modification, tax debt relief, debt consolidation, debt settlement, credit repair and others are lead types where we are trying to get the necessary help to the consumers.

Credit repair is one of the most demanded lead types in the financial industry.  The demand for this lead type continues to grow & grow.  Credit is a major part of “The American Way”, but it also helps you qualify for loans, lines of credit, buying a home or car, and for some it might even determine your career.  
Everyone with bad credit needs to take advantage of companies assisting them to bringing up their FICO/credit score.  Spending a few hundred dollars restoring your credit could save you a lot of money in the long run! For instance, when buying a car or home you will qualify for a lower interest rate, which saves in your overall payment you are making each month. Also, you will be able to then qualify for credit cards, to have around for those unexpected expenses that arise.  

LeadPile Lead Exchange is an expert in gathering consumers that need help today!  Let LeadPile be a part of your organization and supply you with some GREAT QUALITY credit repair leads. 

I have had multiple calls these last few weeks, and one of the things I observed was that Loan Officers’ main focus is becoming the “credit repair”.  LO’s are looking at different avenues to assist their clients in need. We all know that a large percentage of consumers are having credit problems. Unless you have good or excellent credit, you won’t qualify to refinance your home. After Loan Officers are attempting fixing your credit, they are assisting the client to refinance their homes. 

That’s a smart move for LO’s.  First they charge to fix your credit, then they help you refinance.  Realistically speaking I think its a brilliant idea. It’s not coming fast, but do we have other options? Adapt to the new situations, look for what the consumers need, and you will be able to succeed, even in this market. 

The demand for credit repair in these last few days have gone up.  Finding new ways to make a living and to survive even when the economy is struggling is fabulous. 

Any thoughts on this?

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.

Looking over some posts myself and others have posted in the last few weeks, I see a common topic of conversation. A large amount of the Leadpile blog consists of some good postings from my peers about what is going on with the economy. The sad part about the troubling economy is it is affecting so many people in the world in a BAD way. However, did you ever think about the people that this struggling economy is benefiting? I mean really… one person’s failure is another person’s gain. So, who is gaining in this credit crunch and declining market?

1. Honda- the auto maker has struggled like all other auto makers with producing newly desired hybrid models. Honda will be rolling out 1 more hybrid variations in addition to it’s 2 models that are currently at Honda dealerships. However, consumers are looking for smaller more economical cars VS trucks and SUVs. Them not being a car maker that had been highly focused on trucks, has allowed them to be the only car maker to increase their sales numbers, and that was only 1%.

2. Public transportation- more and more people are now taking public transportation and now cities are even adding new routes to take care of all the additional people. Cities have wanted this for years- save the environment, cute down on pollution etc. Now they have what they wished for!

3. Credit repair and debt settlement companies- these companies could have seen some slower times with everyone going the refinance route. Loan officers were advising consumers to do a refinance to consolidate their debt, amongst other things, with the new found equity in their homes. The credit repair companies are now seeing consumers coming to them because they have no other options.

4. Payday loan industry-consumers have an ability to take out a payday cash advance loan as a last resort for a really hard time. However, are there now more consumers that normally are not taking out a payday loan, having to consider it to pay that next mortgage payment or other outstanding bill?
How about car warranty providers, gas companies, loan modification companies, bankruptcy attorneys, and home buyers looking for a good deal? All these types of companies should be feeling an increase in business.
There are some more that are benefiting from this downturn in the economy, and we really have to say hats off to them. Some of these companies like Toyota have been in the shadow of other auto makers and now it is their turn to shine!
With regards to lead generation companies and lead exchanges, how are we going to adjust to this change, and satisfy any new demand for different products and services? Why not look at the economy in a positive light, that there are some out there that are not going through any economic hardship? Glass half full VS half empty: YOUR choice.

Anyone who has taken out a loan of some sort, applied for a new job, or rented an apartment knows how much your credit score matters.  Think about it, most employers are even pulling your credit.. insurance carriers are pulling your credit… and of course the lenders are too.  What is the big fuss about someone’s credit score?  Well, one thing I have learned over the years is, it is probably one of the most important things in our life! That sounds bad, but really it is.  How can a 3 digit number that no one has any idea how it is made up, have such a large impact?

In today’s economy a lot of consumers are finding out the answer to that question.  People trying to refinance their home are being faced with the fact that their bills have fallen past due and now they can not get a loan.  Consumers are trying to find new jobs because their employers are going out of business. However, they are not getting that job because according to their credit score they are a “high risk” employee who can’t take care of their personal finances.  So, why would they hire you if you can’t even take care of your own bills?  Insurance premiums are going up so consumers are looking for new insurance companies, but finding out that their rates might not have been so bad compared to their new rate estimates they have received.  Why?  The insurance company is pulling your credit for things such as auto policies, because they say that statistics show your credit score has a direct impact on your driving skills(better chances of NOT getting in an accident) and your ability to pay your bills.  They think that those with bad credit scores are going to get in more wrecks and not pay their bills? Unfortunately, there has been some controversial findings that have been known to show some truth to that statement.

What makes up a credit score?  First, you need to know that the range of your credit score can be anywhere between 350-850.  Secondly, you need to know that there are 3 different credit reporting agencies (Transunion, Experian, and Equifax) where your lenders can report your credit history to.  Thirdly, there are a combination of things that make up your credit score such as your payment history on credit cards and loans, your total outstanding debt versus available credit, how long you have had the loans/credit cards open, how many people have pulled your credit (inquiries) and a whole bunch of other “unknown” factors. So now you know who pulls your credit, why people pull your credit, and what makes up your credit score. How do you fix it?

The first step is getting in the right direction regarding your credit is to become educated on everything that is linked with your credit score and what is on your own credit.  Then get with a company that deals with credit repair and walk through the process with them on FULLY understanding that credit report(s), and how you both are going to work on getting it better.  When searching the internet, look for credit repair sites.  

Companies like Leadpile- The World’s Largest Online Exclusive Lead Exchange-  deal a lot with this lead type and understand that the companies buying these leads really are out there trying to get your credit score higher.  Then your credit score does not affect you getting that next job, next insurance policy or paying REALLY high interest rates.

Let’s take a minute and talk about Co-Registered leads.  Do they work? Absolutely!  Do you want to know what is the secret?  Well, I will share that with you. 

See, our Co-registration leads are simply a secondary request made by the consumer that is expressing a genuine interest in a specific targeted service.  We don’t incentivize the leads.  The consumer is knowingly submitting a request to be contacted in addition to their primary request. 

Do you have sales force that needs leads to call? Co Registration leads are what you need!  Still thinking… well let me make it easy for you!  You go into the grocery store for a gallon of milk, right?  On the way down the hall you see some tasting pastries.  What would most people do? Take the pastries along with the milk. Do you understand it better now.  Let’s use credit services for example,  a consumer fills out a request to refinance their home.  Guess what? Without good credit their application will not be approved! At the end of the mortgage application they have the option to also submit a request to be contacted for a credit repair solution! Amazing, isn’t it! Now, the consumer can repair their credit and qualify for a mortgage.

The fact is, that most consumers need assistance for more than once service! CoReg leads are just that! Assisting a client for an additional service.