Leadpile’s Blog

Remember those days when you could pick out all the items you want, and then pay for them each week at your local store?  Okay, maybe not everyone did that, but I remember doing this sort of thing when wanting to buy some “big” ticket items.  Those days seem to be back.  Sears announced it is rolling out layaway!  You shop for what you want and then make a small down payment, then you are done.  Layaway is not a common thing these days, however with the economy retailers are doing whatever it is they can do to get consumers in their stores for the holidays

What happened to layaway and why did it pretty much disappear?  According to creditcards.com, the rise in credit cards being issued erased the high demand for layaway.  Now with consumers having maxed out credit cards, delinquent mortgages, and jobs disappearing, retailers are trying to come up with ideas on how to get that limited amount of consumers in THEIR stores.  Other stores that I found offer layaway are:  Burlington Coat Factory, TJ Maxx, and also take a look at elayaway.com, because this website offers a layaway service.
So, why would Leadpile Lead Exchange be writing about “layaway”? As I have stated in previous posts, we see consumers that are in all sorts of financial situations. Seeing stories such as retailers rolling out an old idea in this tough economy, gives me optimism that there is possibly some light at the end of the tunnel. Every little piece will help those consumers and the economy get headed in the right direction!

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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.

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.

In light of what is going on the economy, direct mail credit card offers have continued to see a decline. According to DMNews, direct mail production has been continuing to fall since the 3rd quarter of 2007. Now things are probably getting worse for those issuing the credit cards, because of the tighter belt on lending guidelines. With costs high to do direct mail campaigns, and the inability to lend to as many people as they want, credit card issuers are having to face the idea of either cutting back, or looking at other options to generate business.
Leadpile Lead Exchange works with a lot of lead types relating to the financial industry, however generating credit card leads is not something we have had a recent demand for. Is this maybe something that will now change, as advertisers look for more cost effective ways to generate business? We certainly can look at generating this lead type if we have a high enough demand. However, maybe consumers overall will shy away from even applying for a credit card. I believe the payday loan industry will continue to strive to be the go-to lender consumers lean towards. Trying to get qualified for a “standard” credit card or loan, is going to be harder and harder these days to get.

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. 

Leadpile Lead Exchange needs Credit Card Processing leads. If you are generating credit card processing leads, bring them in our marketplace.  Honestly, everyday I’m having a new advertiser sign up DEMANDING this lead type. It’s the new lead type that will sell! Think about it for a quick sec…… Who in this time of age does not have a credit card? Some teens might not have one, but even they are getting them younger and younger.  It makes logical sense for every business out there to accept credit cards. What I can not believe is that many new businesses do not accept credit cards.  This could be affecting their revenue. Overall, when businesses accept credit cards, their sales should be higher.  Reality is most people would rather charge a purchase versus pay cash.
Credit Card Processing companies are really targeting these businesses that do not currently accept credit cards.  This makes perfect financial sense in the fact that the business gets the credit card machine, and the credit card processing company makes a sale!  Now evaluate all the new home based business seekers that are working from home. There are millions of them in the U.S. currently. Is it a good business decision for even these types of businesses to plan on accepting credit cards?  Possibly not, depending on the type of home based business they are doing.

Great lead type and I need leads!  We are currently generating Credit Card Processing in our lead exchange, but NOT ENOUGH to fill in our demand! If you have them………… bring them over! 

In recent years, more and more people are going to college and taking out student loans. These loans were once looked at as “good debt”, however there are students that are graduating with $100,000+ in debt. This is equating to $500-$1,000/month in payments for students. Good debt? ALOT of debt!
The excitement of graduating from college is overshadowed by the idea that within 6 months of graduating, you will begin paying back these debts. How can you really get excited about the fact that you have spent the last 4-6 years going to school, and to be finally done?
According to Yahoo, there are students graduating and becoming affected by the high level of stress, because they know that they are going to have to pay this money back. The first stress should be finding that job that they have been going to school for, however with the outstanding debt, it is hard to really focus on getting that “right” job.
This is a very common type of situation that is happening around the country. This makes me wonder if maybe student loan debt should be somehow waived by the government, or some other options being available? Taking on student loan debt is not the same as going out to the department store and charging up credit card debt. Something to think about… any other way to potentially handle student loan debt? We want young adults to WANT to go to college.
On a final note, student loans/student loan consolidation lead type is minimal in our Leadpile Lead exchange. However, I do know there are a lot of students that are out there wanting to consolidate their student loan debt, because of the exact reason of the payments being out of control.

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?

I wanted to see if I could find some true results of what some Americans want with regards to the payday loan industry. So much negative publicity gets published on this industry, however there really is a need for these short term loans for many people.
According to a previous poll done by zogby.com, less than 1% of all those polled, thought that lawmakers should focus on the personal loan industry. A majority support the individual’s right to choose their financing options, and want that freedom of choice in payday loans.
Zogby results showed that a majority (84%) of Ohio state’s consumers were in favor of making their own credit decisions without government interference. Additionally, most wanted the federal or state governments to allow adults to get a payday loan, if that is something they choose to do.
Another part of this particular survey stated 72% of the consumers mentioned that traditional financial institutions like banks and credit unions didn’t offer short-term personal loans. Many consumers see payday loans as something convenient, and fast to get some needed cash between paydays. These payday loans are popular with loan borrowers for the main reason of convenience and quick access to cash without any credit checks.
Paydays loans are a necessity for so many people today. Is this something that should be controlled by legislation? I agree there should be some regulation so consumers are not taken advantage of, however 100% eliminating loans, that no other banks or lenders can provide, is not necessarily the best option for the consumers needing them. Where else can Americans get a short term loan not secured by collateral? Getting quick, fast money is very hard to find without having your credit pulled.
Leadpile Lead Exchange embraces payday leads because there is some belief that this is something that is needed by the consumers. We bring together those that can generate the leads of consumers that are looking for these short term loans, with the lenders that can provide this to them.

Market Watch released this afternoon that Coca Cola shares went down .18 cents, that’s 18% down this year so far. But they are not the only ones affected by the Nationwide struggle that’s affecting Millions of consumers and businesses.  

Market Watch also reported J.P. Morgan Chase & Co. second quarter net income fell 53%, the company took over $500 million in costs for its Bear Stearn’s acquisition. Microsoft shares dropped 5.7%.  IBM shares are down .06%. Investment bank Merrill Lynch shares drop 7.1%.  Capital One Financial Corp registered a 4.9% decline. The list goes on and on.

Businesses are also being affected and loosing money.  What’s happening with the market?  These well known companies that were once making millions are now losing millions.  Gas pricing is going up at ridiculous cost. The cost of food has climb.  Unemployment rates are over the hill tremendously.  Debt is at the highest peak.  More Americans are filling for Bankruptcy.  Airline fairs are rising.  Less people are taking vacations.  Student’s are falling behind on their student loan payments.  More families are being affected by bank foreclosures.

Is this truly healthy for America?

I have talked about the consumers battle against the dead end they are facing.  Although its not just consumers its also major firms and corporations, for years investors were glorified to subsidize in these companies but now are selling shares and stocks.   

Everyone in society has somehow been affected.  Its lead exchanges such as LeadPile that are here to assist and help in each way we can.  LeadPile is partnered with some of the best affiliates in the market to provide quality leads.  Within our partnerships we are targeting consumers and businesses that need your help to clear their debt, to help with bankruptcy, to assist with business loan or business cash advance, to aid with credit restoration or a payday loan, to help them get finance to buy a house or a new car! 

LeadPile focuses on targeted traffic and provides applications or contacts to companies that can help consumers or business in the services they are in desperate need of! 

Sure, all Cash Advance and Auto Groups want the SSN on the leads.  My question is, are they truly necessary?   Many may say, “well, sure it is!”  It’s needed to run a credit check when applying online.  What happens to leads that don’t provide an accurate Social or that become skeptical and refuse to provide it.

With identity theft in the U.S. affecting over 10 million Americans a year across the U.S. according to a study by the Berkeley Law School, you will experience less people providing their social on leads.  Especially, if they have been victims of identity theft.  Wouldn’t you agree?

What does this mean?  In a lead exchange, we provide safe, secured sites that are developed to ensure that the consumer feels comfortable.  Even then we will get leads where the consumer did not provide the Social.  Realistically, this doesn’t mean the lead is bad.  Payday lenders and Auto Dealers, can purchase leads of such and call them.  Making the consumer comfortable in providing sensitive data.  Consumers will need to earn your trust and understand that their information will not just be floating around and getting to the wrong hands. 

Buying leads with no SSN will bring in more business.  You will close more deals.  Lead exchange will increase your ROI, when you use all aspects to them.  Getting full applications is a great benefit, but don’t forget about the consumers that are interested but become uneasy with just providing all their personal information online.  They are a sure candidate to close more deals, I’m sure.

Its always easier when you can talk to a person directly! Keep that in mind.