Leadpile’s Blog

Going a day or two without hearing something on the news about our unemployment rate or consumers buried in credit, has not really happened lately. So it really was not a surprise for me to see MSNBC.com reporting that, in the month of September, there were almost 125,000 bankruptcy filings. This is one of the highest months ever, since the bankruptcy laws had changed back in 2005. We are all waiting to see if the housing market is really starting to become more stable, and this then could help us to see this bankruptcy filing statistic go down, not up. It’s like a domino effect, once the housing market truly becomes stable, more people will hopefully be keeping their jobs because our nation’s consumers will begin to feel okay to spend money to keep our businesses open.
Leadpile will continue to monitor the legal industry, and will continue to try and connect some of these consumers needing legal help. Sometimes it is not a matter of filing bankruptcy, but just a case where someone needs to be connected with someone that can give them some much needed advice. Leadpile is generating bankruptcy leads, and will continue to do this as long as there is a need for these consumers to get help online.

Sometimes I come across an interesting article, or hear a great website while watching television.  Therefore, I thought I would pass along this helpful information.  It relates to the topic that most can not get away with at least hearing something about each day…. money.  However, this is a great article about how to save money on everything we are paying too much for.  According to Kiplinger.com, Turmoil in the industry could mean a terrific bargain for you with items such as cars, so we all need to pay attention to where we are paying to much.  The unfortunate thing is someone else’s hardship is potentially your gain, and some different businesses are truly benefiting and so are some consumers.

Here are some everyday things we are just overpaying for now:

1.  Afternon snacks-How many of you try and go with the “healthier” option of a energy/protein bar versus something like a candy bar?  Most would say yes they do.  However, you are paying at least double the amount for a snack that has just as much sugar as that candy bar.  Try going for some fresh fruit instead.

2.  Bottled water- “The dr says drink more water”…. so we grab botttled water at the nearest convenient store of by the bulk at the grocery store.  Unfortunately, that is a lot more expensive than buying for instance a picture with the filter.

3.  Caffeine- We are all guilty of this one… Starbucks. There are much more cheaper options out there, and we know it but just don’t do it.

4.  Music- The days of purchasing a whole CD are kinda becoming extinct, and a lot more expensive than downloading certain tunes on places like iTunes or Amazon.

5.  Movies-The movie theaters seem to be prospering during this tough economy, however there are some even cheaper options out there. With just as much enjoyment using services such as Netflix will allow a person to save a lot of money (ie- babysitters, food, and overall admission costs).

6.  Flowers- A lot of us might be out there purchasing flowers, however if you are there are certainly some cheaper options besides the florist. Look at your local grocery store as a place to pick up that nice set of fresh flowers. There is a potential to save a lot of money and you even have an ability to customize it the way you like it. The recipient of the flowers will like it knowing you just spent more time on their arrangement.

7.  Fruits and veggies- I am guilty of this one. Convenience, convenience, convenience…. cost more, cost more, cost more. Buying pre cut fruits and vegetables will cost up to 3X as much as cutting it yourself, however it is so much easier to have someone else cut it!

8.  Credit card fees-Late fees and over limit fees: a great way to increase your credit card balance really really fast. Check your statements and find out the grace period (if any) that you can pay your bill late. Avoid these charges because this is a great way to increase that credit card balance back up, when you just started getting it down.

9.  ATM fees-Bank with a bank that has a lot of locations so you don’t incorporate those extra fees for taking OUR OWN money out of the bank. Once again, a great way to loose money quick for something we all do regularly. These fees could be up to $4.00 at the ATM you withdrew the money at, AND another out of network bank fee assessed by your bank.

10.  Fax & mail services- Look for cheaper smarter options to fax and send packages. FedEx might be the most convenient place to send a package and maybe a fax, however there are far cheaper options out there if you just look.

I know, I know this does not really relate to Leadpile Lead Exchange and what we do here, however who isn’t trying to at least try and see on some ways to save some money? I think we all are guilty of spending too much on some of these things.

Macys has announced that will cut 7,000 jobs. Well… I have been in the store few days ago, and thought the store is closed – appeared that no one is shopping anymore.

We understand that the economy is slow, but is this bad? Wallmart is cutting jobs, now Macys and Starbucks is closing another 300 stores.

Do you think people will start spending more when the tax returns will be done? Super Bowl definitely helped – lots of people in the Safeway at least.

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!

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!

Citigroup announced it is going to be helping some of it’s mortgage customers from going into foreclosure.  According to NPR News, Citi will be lowering mortgage payments on more than 100,000 people who have not yet fallen behind. They said they are looking at getting some sort of similar assistance to those people whose loan they service, but do not own. Other major lenders are also rolling out assistance programs to it’s customers to help try and help control more foreclosures from happening.  Some mortgage customers who are paying their mortgage on time, say what can Citi do for them for being a “good” paying customer?  This is a legitimate question, however at this point if Citi lets more people go in foreclosure, then this will hurt our home values and economy EVEN MORE!  We don’t want that.

My question is why did it take this long to roll something out like this? Shouldn’t this have been something the major lenders offered before we got to this point?  Some are still asking who is to blame for all this hardship in our economy and mortgage industry, however at this point it might be best to just get the economy headed in the right direction first. Wasting time on trying to place blame is something that Americans need to avoid, and instead focus on how we can get the economy headed in the right direction. Citi and these other mortgage companies, I do commend for helping to start getting the ball rolling!

Leadpile Lead Exchange comes across all sorts of consumers is all sorts of financial situations every day.  However, the number of people submitting requests for foreclosure, loan modification, debt consolidation are increasing dramatically.  These consumers need help and we are going to help in any way we can, just like Citi and these other mortgage companies are trying to do.  Everyone contributing to this resolution, will help us ALL get headed in the right direction.

We all know what is going on with the economy and how it is affecting the auto industry. However, yesterday MSNBC stated that Michigan (home of GM, Ford, and Chrysler) lawmakers are reaching out to the Federal Reserve Chairman Ben Bernanke and our nation’s treasury secretary to help loosen up the credit requirements. This is in hopes that something can be passed with regards to the 700 billion dollar bailout. Lawmakers are concerned the status of the economy is going to cripple our auto industry.

The sad part about this is the lawmakers are estimating at a reduction in car sales by almost 30%. They estimate this could drive car sales down to roughly 11 million vehicles sold per year, and this is lowest figure since 1983. At this point, having lawmakers step in might be a good idea to help to prevent a bad situation from becoming devastating to the auto industry.
This sort of drop in demand by consumers wanting a new car, is also affecting the lead volume in our marketplace. Our goal is to still capture those consumers that need and want a car in this tough economy.

In recent news, GMAC announced it would only offer auto loans to consumers with a credit score of 700+. According to Reuters.com, GMAC is only wanting to extend credit to those with good credit, and is also saying it will be doing more shorter term loans. This is in direct response to the economy and what is happening to the auto industry. GMAC expects these changes to remain in place until the economy stabilizes. In addition to these changes that are affecting consumers, GMAC says, “it has increased the rate it charges car dealers for providing standard auto financing by 75 basis points.” Therefore, this is not only affecting the consumer who is getting the car, but also those that are selling the cars.
Leadpile Lead Exchange works a lot with auto finance and car purchase leads. Situations like this, in the lending world, are going to affect the average “joe” who buys a car. This is where the auto finance lead type could become more demanded because generally you are talking about consumers that don’t have the perfect credit like GMAC is wanting. These consumers still need funding and there are still options out there for them, even though their credit is not “perfect”. Those dealers being affected by the GMAC decision should look at joining our lead exchange. We have the ability to connect you with consumers that are looking for a car and want it now.

You are probably saying why is a lead generation company talking about how to save money. Well, just as most financial companies come across those that are financially strapped, so does Leadpile Lead Exchange. We see the consumers that are really needing that payday loan or who need debt assistance.
Therefore, I thought I would share this article I came across on MSN.com.

10 ways you can potentially save $500:

1. Drive less
*The cost of gas and maintaining a car can be very costly. Use carpooling or public transportation.
2. Buy your own coffee or energy drinks instead of stopping each day
*The cost of a Starbucks coffee is at least $3.00 and energy drinks at your local convenience store are about the same. Buy your own coffee and energy drinks in bulk from the grocery store.
3. Conserve energy at home
*Increase your temperature you keep your home at while not there and also while at home. Adjusting it just a degree or two saves a lot of money in your monthly electrical bill.
4. Do your own landscaping
* Pull your own weeds. It is a nice way to stay active and save a lot of money.
5. Think twice about getting that new pet
* Taking care of a pet requires a lot of time and also money to maintain. This is an added expense that should be done when discretionary income is higher.
6. Consider buying store brand products around the house
* All grocery stores have their own store brand products. Some are better than others. However, trying the different variations will save a whole lot of money.
7. Limit internet, cable, and other media costs you have in your home
* Do we all really need 100s of channels to watch. Most Americans watch the same channels on a regular basis. This can be very costly if you don’t keep it to a minimum.
8. Sign up for any reimbursement plans available at work
*Find out if your employer has any sort of carpool reimbursement, tuition reimbursement and other programs they offer for their employees. This could save a lot of money on things you already do.
9. Eat in
* This is one of the biggest expenses we all incur, and also a place where we can save a lot of money by limiting how much we are eating out.
10. Pay at least minimum payments on credit cards to avoid future credit card fees
*Not paying your minimum payment amount leads to added fees from the credit card company, but is also affects your credit which makes your credit score go down. When you credit score goes down, that causes you to either not be able to get a loan or have to pay more to get the loan.

It is easier said than done with these items, however making a good effort to save here and save there will allow consumers to cut back on their monthly costs.

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.

Companies in all industries are experiencing the pressure of having to come up with new ways to get consumers attention. Online lead generation has been a tool for helping companies find consumers needing a new home, a new car, or various types of loans. However, with the economy the way it is now, companies are working on trying to attract online customers to “new” types of products.
Gone are the days of focusing all your marketing efforts on high profit margin items such as home sales, new car sales and other high price ticket items. According to leadmarketwatch,“The time between major purchases is growing larger due to market pressures as well as improved quality and higher prices. Therefore, marketers need to capture the client in between purchases and it is through micro-needs like chrome wheels, new tires, paint jobs, etc.” This means that companies such as GM are focusing on bringing in leads of consumers wanting new tires and accessories, versus getting the new car. This is also in line with Leadpile Lead Exchange and the need for lead types such as car warranty, car refinance, and home security system leads that are becoming more and more in demand. Service providers could be the ones reaping the rewards of the slower economy… don’t buy a new car or house… fix up the one you already have!

In recent months the debt vertical has become a very popular, yet challenging vertical to work with. Understanding reasons consumers have gotten into debt and the specifics that the lead buyers are looking for, has been something we have worked on to fully understand.
According to Bankrate.com there are 10 main reasons why consumers get buried in debt. Understanding more about debt allows consumers to be more educated and ultimately try and avoid these types of situations.

1. Reduced income, but same monthly expenses
2. Divorce
3. Poor money management
4. Underemployment
5. Gambling
6. Medical expenses
7. Not saving money or not saving enough money
8. No money communication skills
9. Spending money you don’t have yet
10. No understanding of money

These are all scenarios any consumer can be faced with, including myself. With the economy being very tough right now, many lead generation companies are focusing on the debt vertical. Fortunately, there are various types of debt help that the consumers can get, but most consumers do not know the difference between one another.
The main details that debt consolidation and debt settlement companies are looking for is the amount of unsecured debt. What is unsecured debt?
Unsecured debt is debt that is not secured by any collateral. For instance, credit card debt, medical bills, cell phone bills and other collection accounts. Most debt companies do not work with secured debt such as mortgages, tax debt, student loans and auto loans.
Leadpile Lead Exchange generates a lot of debt leads. Lead types such as debt consolidation, debt settlement, and credit repair are all types of leads we are generating that are there to assist the consumers with the debt/credit. We are connecting the consumers that need help, with those companies that can help them get out of debt.