Leadpile’s Blog

Leadpile works a lot in the payday loan industry, with regards to trying to connect those that are looking for a payday loan and those that can provide these short term loans to the consumers. However, if you are in the military you do not qualify for these types of loans, therefore there are alternatives that are offered to these consumers. Leadpile is excited to partner up with a lender that can help service these individuals. We are looking for publishers that can help us generate more of these leads.
This is what we are looking for in these leads:
Nationwide, “active duty” Military (no reserves or government employees) only, consumers must be looking for a $500+ loan, no daily caps and there is no restricted delivery schedules.

There are several ways to generate these leads:

* MicroClick Forms
* MicroClick iForms
* Banners
* Text Links
* “On Exit” Ads
* Open Market

If you are a publisher and looking to help provide these sorts of short term loans to members of our military, reach out to us!

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………….

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?

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.

In recent news, there are new payday lending laws in British Coumbia Canada. With these new regulations there are caps on interest rates and rules prohibiting predatory lending.

B.C.’s Business Practices and Consumer Protection (Payday Loans) Amendment Act and the Payday Loans regulation prohibit lenders, including phone and Internet lenders, from:

· Practices that unreasonably increase the borrower’s debt load, including rollovers that require borrowers to pay significant extra fees for extending the time to pay a loan.

· Requesting an assignment of wages, or collecting from a borrower’s employer.

· Operating unless licensed by Consumer Protection B.C.

Leadpile Lead Exchange has recently started generating payday loan leads in Canada, and is very much concerned with any legislation that is going on there. Just like US payday loans, we know that payday loans can be a much needed loan for many consumers. We will continue to try and match these consumers that need these short term loans, with those that can provide it to the consumer.

Payday loan providers know that this the big season is just around the corner for them and they are willing to put in a fight to make sure that no one interferes with that. Every state has their own rules and regulations when it comes to getting a payday loans. One thing that they all have in common is that they all have interest rate caps, all except for Wisconsin that is. Currently, “Wisconsin remains the only state in the nation that doesn’t regulate an industry that lends money for two weeks at a time, frequently extends balances for big fees, and winds up getting as much as 520 percent interest on its loans.”
Payday loans are meant to provide individuals with fast cash and it is expected to be paid back fast as well. They are not meant to be used time and time again, but rather as a one time quick fix. There only becomes an issue when the consumer takes out loan after loan that they know that they will not be able to pay back in a timely manner.
So would a interest cap rate hurt or help the payday loan industry of Wisconsin? In most cases it would probably stay neutral. Many lenders believe that it would create more bounced checks where in fact, if they were to just look at statistical data from other state lenders, they would see how there was not an increase in bounced checks.

Unless you have been living under a rock, you know all about what has been going on in the U.S housing market. With houses being foreclosed left and right, it has put house values at an all time low. Most believe that this was due to large mortgage companies writing bad home loans and giving loans to individuals who clearly could not afford to own a home (or at least the one that they wanted to purchase).
Now until March the U.K government will be offering “A No Money Down Mortgage”. It basically is exactly what it says it is. People who normally could not afford to buy a house because of the down payment, now can. There has been a very split reaction on whether this is going to help or hurt the U.K economy. People are going to be buying houses, putting house sales and values on the rise, and the housing market will be booming. But what happens when the home owners realize that they are in over their heads and can not pay the payments? First they miss one payment, then two, until before they know it their house is being foreclosed.
It almost seems that somehow people do not listen to the world news over there. The same effect that happened to the U.S is going to happen to the U.K. You think that they would have learned from our mistakes. What is almost more shocking is that people think that the government is actually trying to help them. According to Alastair Stewart “Every scheme in history the government has tried to implement in the housing market has gone completely toes up,”. I don’t know why people think that this is going to be any different. All I know is that I hope the U.K does not come to us asking for money when they are in our position two years from now.

The generation gap between the boomers and younger generations is becoming more apparent and widening the gap even more with the effects of the recession. Dropping home prices and stock values give employed people in their younger years an opportunity to invest and purchase in ways that would not have been possible to them without the drastic decline in value from the recession. On the opposite end of this scale, the aging generations such as the boomers are taking a large hit, watching their homes and 401(k) accounts drop by huge percentages in value.
First-time home buyers being offered $8,000 tax credits, and the stock market at all time lows adds extra benefits for generation X’ers looking to get a head start. People in their 20’s or 30’s have plenty of time to get in now and watch their investments grow, giving them a huge advantage to someone in their 50’s or 60’s looking to retire.
According to msnbc.com the Consumer Price Index has recorded a rare drop over the past 12 months, 1.5 percent. The decline for many goods and services has been much greater, allowing young people to put even more money into stocks and housing.
For those who are fortunate enough to have remained employed and have the opportunity to invest have a great advantage….For those who have been working all of their lives to retire and now are faced with hard decisions and losses, it feels as though they are being taken advantage of. It’s scary to think that even the best layed out plans could turn bad.
Recently there has been enormous amounts of discussion surrounding Payday loans, and the push by some to get rid of this option. With the economy in the state that it is, and people’s budgets and financial futures in question Payday loans are the stepping stone to help people get from point A to point B. They may not be the perfect solution to the problem, however at the time, they may be the only.

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/

We all know payday loans don’t exactly have the best image, however there are a need for them in certain situations. I came across this article on personalmoneystore.com, discussing a very interesting type of loan. This “automobile down payment loan” is said to be a loan that no credit check is performed, and there is no collateral securing this loan. However, after reading more about this, I thought this reminded me of a payday loan, but with a different name.

We all know lending requirements have gotten a lot more strict, however consumers still need to pay close attention to the specifics of any money they are getting. Don’t get me wrong, this is not necessarily a bad thing that consumers should not look at. However, maybe the key to getting a more positive image on the payday loan industry is to put different “names” on the loans. Leadpile will keep an eye out for any other names we identify as a payday loan.

With so many consumers being really strapped for cash, and banks trying to find additional revenue, some banks are offering an alternative type of loan which appears to be like a payday loan. As we all know, payday loans are issued by payday lenders, not necessarily our local banks.  However, Tennessee’s Fifth Third and U.S. Bank are offering 35 day payday advance loans.  According to Nashville Business Journal, “The loans come with an annual percentage rate of 120 percent, or a 10 percent fee on money borrowed. That’s a rate much higher than almost any other form of credit, other than businesses that offer pawn, title or unsecured payday loans, which often charge fees as high as 400 percent APR.” So my question is, is this the beginning of banks now offering payday loans? Will they have to go through the same regulations as the payday lenders are having to go through?

Brick and mortar payday stores, online payday lenders and others that deal with payday loans are facing more and more regulations these days.  Will our nation’s top 10 banks now be on that list of those being faced with the payday loan regulations?

The economy is bad, and consumers are needing help with their mortgages and debt. Leadpile realizes this, and so does our advertisers/lead buyers. There are loan modification and debt companies out there looking to help more consumers. Leadpile is looking for those people to be matched up with our advertisers to provide these services.

Leadpile Lead Exchange makes it quick and easy for lead publishers.  Here are the offers you can get up and going in minutes.  This is a great way for these consumers to fill out the required information, and be matched up with those that can provide the service to them!