Leadpile’s Blog

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!

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!

How many consumers out there have a problem obtaining a credit card because their credit has been destroyed? The answer is there are a lot of people in this situation unfortunately, and we are trying to get those consumers connected with the proper company that can help them get on the road to improving their credit. Leadpile is proud to have partnered up with New Millennium Bank to help them with these consumers looking for a secured credit card. We are looking for publishers that can help us generate these leads for the New Millennium secured credit card offer. If you are a publisher and interested in driving traffic to this offer, we want to talk to you!

October brought a change for the housing market that has not been seen in over 2 ½ years. Low mortgage rates and falling prices boosted home sales to the highest level they have seen in a very long time!
According to Yahoo homes sales are now nearly 37 percent above their bottom in January, even though they are still 16 percent below their peak in 2005. Analysts said gains mainly reflected the homebuyer tax credit, which has been due to expire on November 30 but has recently been extended until spring. Valid until April 30, 2010 the tax credit of up to $8,000 for first time owners, and $6,500 for people who have owned their current homes for at least five years.
Although the current low pricing is boosting sales, the overall economy is likely to benefit from slightly higher home sales.

We all know that there are great deals to be had in automotive market right now. Many car dealers are willing to cut their prices and haggle much more than in the past. So buying a new car as a steal should be simple, right? Car dealers may be willing to work with you on price, but when it comes to giving you a loan, not so much.
Unless you are very money savvy or have a great job, buying a car with cash is not always possible. This day in age it is very common for the majority of people to take out a car loan and finance their car. With the market how it is, getting a car loan can be easier said than done. Its not that lenders do not want to give out loans, they are just being much more picky on who they will approve. Also, interest rates are very high at the moment and your credit can make a difference on if you are approved and what interest rate you receive. According to U.S.News, when trying to finance or get a loan for your new car there are a few key facts you should know.
1. Basics of Car Loans – know that you will have to pay an interest rate which includes principal and interest.
2. Car Loan Term – This is the amount of time that you have agreed on to pay the lender back. The car is not yours until you pay back the WHOLE loan and interest.
3. Credit Score – As stated above, interest rate is normally based on an individuals credit score. Usually, the lower the credit score the higher the interest rate.
4. Apply Several Times – Consumers normally apply to several different companies to get their loans. This will give you a better chance to get a loan that suits your exact needs.
At the end of the day it is by no means impossible to get a auto finance loans. LeadPile is also here to help. We match up consumers and lenders who meet each others needs. Hopefully, this helped you realize that with the right knowledge and steps, buying a new car with great financing is not as far out of reach as you may think.

With everything that has happened in the financial market in the last few years, many question if the responsibility falls on the consumer or the lenders (or both)? Is the responsibility of the lender to make sure the customer 100% know what they are signing, or it is the responsibility of the customer to ask questions if they do understand what they are signing? There are advocates on both sides, however the government now feels it needs to step in. NPR is reporting that Congress has drafted legislation that would allow the government to oversee all consumer financial products such as credit cards, mortgage loans and payday loans. This measure would prevent consumers from getting any sort of “loan” that they did not fully understand what they were signing. I am not quit sure how something like this can be regulated, but the government wants to step in and try to protect consumers in these sorts of situations. Many legislatures feel that the past behavior of our banks was that they would shop around till they found a lender that would take on their “unique” client situation. Unfortunately, what this caused was those “unique” consumers to then fall behind on their mortgages because they really can’t afford that mortgage.
No matter what, if you agree with government intervention in our financial market or not, the bottom line is our country needs something to change. The right answer is not always that easy to figure out, however one thing I do know is that to change our financial market there needs to be a combination of many people/groups that need to come together to protect customers…and sometimes protect the lenders (the good ones).

Phoenix June 30th, 2009 — LeadPile, The World’s Largest Online Exclusive Lead Exchange announced today record results for its MicroClick Form (http://www.microclick.com) in June, 2009. LeadPile reports a record number of Lead Verticals being served by its MicroClick Form with Lead Sellers producing leads in 61 different verticals in the month of June. This makes the LeadPile MicroClick Form the most widely used Multi Vertical Lead Generation Form in the lead Marketplace and Lead Exchange Industry.

LeadPile’s Centralized Online Exclusive Lead Marketplace supports thousands of affiliates that use the exchange to sell to suitable lead buyers. By using the LeadPile MicroClick Form, Affiliates can focus on driving traffic to their pages and not on managing lead buyer relationships. Over 90% of LeadPile’s active affiliates are currently using the MicroClick form, offloading the responsibility for lead collection, management, technology infrastructure, and quality control to LeadPile.

Astoundingly, LeadPile’s MicroClick form has been used to produce leads as diversified as Tax Debt Relief, Home Improvements, Business Loans, Health Insurance, Equipment Leasing, Credit Card Processing, Cash For Gold and more.

Andrew Jacob, CEO of LeadPile says, “The LeadPile MicroClick Form allows us to handle leads across multiple verticals, including payday, starter credit, debt consolidation, credit repair, bankruptcy, auto financing, and homeowner. While the majority of leads currently being exchanged in the  Marketplace are in the Financial sector, the fact that Lead Sellers are using the MicroClick form to produce leads in over 60 verticals is very rewarding for our team.

Jacob adds, “I would like to personally thank our existing Lead Buyers and Leads Sellers for their business, and it is our promise to everything we possible can to help them in their efforts by continuing to provide the type of technology infrastructure and transparency that they have come to both expect, and deserve, from LeadPile.

To read more, please visit http://www.LeadPile.com/

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.

Every time you check out at a retail store, do you recognize the statement, “would you like to save 10% on today’s purchase?”

You are getting asked this at all your favorite retails stores, because they are looking to have you open a new store credit card.  This is something that is enticing you to potentially save some money on that current purchase.  Who doesn’t want to save money, so many consumers choose to accept the offer.  However, do you know when you answer “yes”, that is giving that company to pull your credit and potentially affecting your credit score?

Any time anyone applies for new credit it affects your credit and it also affects your overall outstanding bills you are now going to have to pay.  Are these things that you think of when making that split second decision to say, “yes I would like to save 10% with that new credit card?”  According to bankrate.com, there are some pros and cons to retail credit cards.

Pros
• Promotions, discounts and other perks.
• Helps build credit history.

Cons
• High interest rates.
• Low credit limits.
• Lowers your credit score.
• Another spending temptation.

Once consumers have these sorts of credit cards and all other types of credit cards, it creates a potential financial hardship if there is a life changing event (ie- job loss, pay reduction, loss of spouse etc) that could put a consumer in a tough situation. Debt consolidation and debt settlement companies are great services to look into if you are buried in the debt. Leadpile Lead Exchange works a lot with these lead types, and I have to say in recent months there has been a lot more activity in those verticals. This tells me that too many people said “yes I would like to save 10% on this purchase”. Think before getting that next new credit card!

In recent news the Fair Isaac Corporation is rolling out an updated FICO score.  A FICO score was created back in 1989 to help consumers and businesses determine consumer’s credit worthiness.    All 3 credit reporting agencies (Transunion, Equifax, and Experian) will be implementing this new scoring.  

Some things that are changing with the newly updated FICO score:

1.  Ignoring of small collection accounts

2.  One credit problem forgiven

3.  Changes to authorized users and how it affects your credit score

Things you will want to now pay attention to with regards to your score:

1.  The more credit you use in regards to your balances versus credit limits will affect you more now.

2.  Don’t close $0 balance accounts now.  Keep them open and don’t use them.

3.  You will be penalized if the lenders close your accounts.  To prevent this, charge one time per month to keep activity going if you want to keep the account.

4.  Diversify what credit accounts you have active.  For instance, have some installment accounts (IE- CAR loans etc) AND revolving credit.  This shows you are able to maintain both types of credit.

Fair Isaac is hoping these changes will help with getting a better depiction of credit worthiness.  Lenders will like it more because there is going to be a more precise score of their credit.  Consumers will like it more because if that score is higher, that makes the cost to get more money (loans and new credit) cheaper.  The better your FICO score is, the more credit you have available and the lower your rates will potentially be to borrow money.  This seems to be a win win situation for consumers and businesses.

Leadpile Lead Exchange wants to help consumers and businesses to be connected with regards to any financial matter.  This new FICO score will most likely promote more consumers to want to take a deeper look at their scores and how they can maybe get them higher.  Credit repair companies are probably a really good option to look at to help do that.

The new year is here and there still is a credit crisis that Americans are trying to figure out how they are going to get through. Many of my other posts talk about credit and ways to know your financial situation, therefore you know what you are getting into with any “new” loans etc. One way some get through these problems is with a payday loan/cash advance. Payday loans get a lot of negative publicity because many feel they are not an “appropriate” way to get out of a temporary situation. Each consumer has their own way of fixing their financial situation, but I thought this quote was pretty interesting in regards to payday loans (Payday Pundit).

How much debt a person has does not determine whether a payday loan is a good idea for them. If the loan enables them to repair their car so they don’t lose their job or saves them from eviction, then it’s a good idea even if they owe a million bucks. And it’s also a good idea even if it just saves them a few dollars in alternative fees that they would otherwise have to pay. People know their individual circumstances and are in a better position to know if a loan is good for them than the lender or any government formula put together by activists and politicians who want to pride themselves on how they are protecting us from ourselves.

Every loan is a gamble on the part of both lender and borrower, and nobody can ever guarantee that any loan can ever be repaid. If both the lender and the borrower mutually agree that the transaction is likely to further their interests, then who are you or any government agency to tell them that they can’t engage in it? If the lenders are tricking people into expecting one thing but delivering another that of course is deception which should be stopped, but apart from that, BUTT OUT, MAN!

If lenders have a responsibility to investigate the finances of people who apply for loans to make sure they can afford them then so do all other merchants and service providers. Is that the kind of society you want to live in? When you are the one who has to get government permission to purchase a product or service then you may feel differently about making politicians our parents instead of our servants.

Help with repairing your credit is something pretty much everyone could use a little assistance on. With a tough economy, Americans are needing to worry about more important things like paying their next electric bill. However, when that time comes where they have the ability to get help, credit repair is a great option to look at. Credit repair assistance can be a very informative service, that once you learn what makes up your credit report, you will be able to use the valuable information in the future.
Leadpile Lead Exchange is currently generating a large volume of credit repair leads. These consumers need the help now and are looking for someone to provide that service. Knowledge is power when it comes to your credit report, unfortunately not everyone is in a position to have great credit. Knowing we have a large demand for this lead type, and the large amount of consumers wanting assistance, Leadpile has rolled out some text links/landing sites for lead sellers to use.

www.countrywidecreditfix.com
www.creditfixnationwide.com
www.mycreditjump.com
www.personalcreditassist.com
www.uscreditfix123.com

If you are currently not working with Leadpile to purchase or sell credit repair leads, I recommend it!