Leadpile’s Blog

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.

We all know the payday loan industry gets a lot of scrutiny for it’s “high interest” rates, however I found this article very interesting about the annual percentage rate (APR) on returned checks.
According to The Community Financial Services Association of America (CFSA), “the median interest rate on bounce protection loans to be in excess of twenty times that of payday loans.” When a consumer bounces a check, in essence it could be a lot more expensive for them to do that, than go get a short term payday loan. When a consumer bounces the check they pay a certain fee, and that fee is accumulated daily until the funds are sufficient. Unfortunately, this could sometimes cause a snowball affect, being that charge after charge could lead to more insufficient funds.
Payday loans might not be the only alternative, however a consumer needs to really look at the overall picture. They need to try and determine how they can prevent this sort of situation from happening again. Banks will make their money on fees, however there are certain circumstances that happen where you should look at alternatives that might cost you less in the long run.. like a payday loan, borrowing the money etc.
Leadpile Lead Exchange works with various lead types that deal with helping consumers be matched up with financial institutions to provide that service. Unfortunately, not all consumers reach out for help, and in turn get deeper and deeper in a “hole”. There are resources out there such as the payday loan that can be very helpful in trying times.

We all say…. ” I would never get a payday loan”, however do you realize who the standard payday loan customer really is? According to paydayfacts.org, there are some common factors about those taking out a payday loan.

1. The majority of payday advance customers earn between $25,000 and $50,000 annually.
2. Sixty-eight percent are under 45 years old and only 4 percent are over the age of 65.
3. Ninety-four percent have a high school diploma or better, and 56 percent have some college or a degree.
4. Forty-two percent own their own homes.
5. The majority are married and 64 percent have children in the household.
6. One hundred percent have steady incomes and active bank accounts, because both are required to receive a payday loan.

Do any of these statistics surprise you? At one point of another we will all go through some sort of hardship, and potentially a payday loan or other short term loan might be your saving grace.
Leadpile Lead Exchange understands there are many people who need a little extra “help”, in receiving a payday loan. We generate thousands of payday loan leads each day, and these people I am sure really need the assistance.

The paydaypundit.com has an interesting blog post regarding payday loans. Some articles on the internet are talking about payday loans related to predatory lending and college students. This blog made a good point about students not being able to get a payday loan. A payday loan is based on a “payday”, and the only way a person can get a payday loan is to have that loan linked to a “pay day”. How can a student get this type of loan if they do not work, like many other students?
Predatory lending is very much something that can be controlled by the consumer, if they ask a lot of questions and make sure they know what they are doing. Students or not students, payday loans are something many people need, and lenders will not give a loan to someone if they do not have a “pay day”. Leadpile Lead Exchange wants to work with students needing loans, and also payday lenders wanting payday leads. Unfortunately, the two will probably not be a match.

Easy Money, a payday lender with stores in Alabama, recently joined Borrow Smart Alabama – a TV  campaign aimed at encouraging borrowers to use loans wisely.

The title loan and cash advance industry, under fire for high-interest rates, have smartly recommended regulatory oversight which will help to promote legitimacy. Borrow Smart Alabama is comprised of more than 225 cash advance and title lenders in the state who have committed to a Code of Fair Lending.

Smart Move by Payday’s in Alabama.

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. 

Need AUTO FINANCE leads?
How about PAYDAY LOAN leads?
DEBT leads by chance?
What about CREDIT REPAIR leads?
No wait, how about BUSINESS CASH ADVANCE leads?

No matter what type of lead you are looking for, Leadpile is probably generating it…or can potentially generate it for you. Leadpile Lead Exchange is made up of buyers and sellers of real time web based leads. We are always looking for new buyers of leads to join our marketplace. Where else can you:

1. Get various leads types in one place?
2. Set your pricing you are comfortable with?
3. Define exactly what filters you want?
4. Get top notch customer service to answer your questions and provide support?
5. Work with a company that “does the right thing”, and is always wanting to have our buyers and sellers that are “doing the right thing”.
6. Have the ability to have leads posted to your website, redirected to your site, delivered on email or able to downloaded reports at any time!

What are you waiting for? Try out the Leadpile experience!
For those of you that are already buying or selling leads.. THANK YOU!!

Matt Burns of Business First of Columbus had a very nice article today on the situation with the Ohio Payday Ballot.

According to Burns,, Ohio officials have finally finalized the ballot language for the Payday Issue.

The Ballot will read:  “Shall Section 3 of H.B. 545 be approved?” A “yes” vote keeps intact the provision of the law, which caps annual interest rates on payday loans at 28 percent, down from 391 percent, while limiting the maximum loan amount to $500, from $800.

A “no” vote, according to the language, sets the maximum loan amount back to $800 and allows payday lenders to levy a total charge on a loan that “substantially exceeds” 28 percent.  According to Burns, the 391 percent annual percentage rate calculation doesn’t appear on the ballot.

It looks like a Payday Group called Ohioans for Financial Freedom have worked to collect signatures to make sure the repeal makes it on the ballot. They called the language “fair and balanced.” According to Burns, Ohioans for Financial Freedom has until the end of the month to collect and submit more than 241,000 valid signatures to ensure a spot on the ballot.

Stay Tuned my friends. Ohio is in the middle of it.

According to MSNBC today the numbers are in and retailers lost money, even though the 100 billion dollars worth of stimulus checks have been mailed out by the government. So where did all that money go?
A little over 1/4 of the Americans who received these checks used it for paying off some credit card bills. Only 11% used the money on discretionary items such as electronic items and travel.
Grocery stores to retail stores were offering discounts to come into their stores, to spend their stimulus money on THEIR products. Some retailers placed radio and television ads with reference to spending their stimulus checks at their stores. They all have reached for a piece of the pie.
It appears the winners were discount retailers such as Walmart, Target and Costco. The loosers, that were unfortunately not able to benefit, were department stores and clothing stores. So maybe it is a good time to go out there to get some REALLY good deals!!!!!
Another area that felt some negative effects of the stimulus checks was the payday loan industry. If consumers are getting checks from the government, then they don’t necessarily need a payday loan. However, everything seems to be headed back in the right direction for payday lenders/lead generators. Leadpile Lead Exchange focuses a lot of the payday vertical, so our heart goes out to all our affiliates that felt any negative effects of the stimulus checks going out.

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?

We all know there are some tough times going on with most Americans. Right now, Leadpile Lead Exchange is experiencing a surge with the payday loan lead type. Not only are publishers wanting to generate the leads, but the advertisers are needing those payday leads. If your not apart of the Leadpile marketplace, take a look at some of the conversions our publishers are receiving.

There are a lot of payday loan leads being generated, and WE want them to be SOLD here!
There are also a lot of payday lenders needing leads, and WE want them to BUY here!