Leadpile’s Blog

Payday loans are something that we discuss a lot on this blog, and are happy to let our readers know that we are expanding our payday loan/cash advance market into Canada. There was a high enough demand to warrant Leadpile to venture into this fairly unsaturated market. We are proud to be able to help those in Canada get connected with those lenders that want to provide them with one of these short term loans. If you are already a Leadpile publisher, you can access this new offer in your seller account. If you are not currently a part of the Leadpile Marketplace, contact us immediately!!! We look forward to this great new market that we are now venturing into!

Payday loans get a bad name, but are a necessary option for many individuals. Recently there has been a lot of bad press about payday loans and the high interest rates that are associated with them, however not all is bad about these loans. Payday loans help many people in tough times, times when they have no other option or places to turn.

According to Online PR News , a recent study shows that people living in states that currently have banned payday loans, turn to more desperate measures having far worse long term effects on the individuals financial standing. Over drafting accounts and bouncing checks is not a better option.

The benefits that payday loans can bring are enormous, allowing people to get help in times of need. At LeadPile, we generate thousands of payday loan leads and match these leads up with payday loan companies able to help them get through what they are dealing with. Payday loans are an asset, and are necessary in today’s economy.

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.

OLA (Online Lenders Alliance) is an organization that has been around since 2005 representing the online lending industry. Leadpile is a proud sponsor at this year’s fall conference in Colorado Springs, CO. Attending and sponsoring such an event, allows us to be amongst others that are working on initiatives to help build the payday loan industry in a positive manner. This upcoming conference will be a great opportunity for Leadpile to meet with those that we are working with now, and those that we can potentially team up with in the near future. We look forward to meeting everyone at the conference!

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.

We all know there has been legislation going on with the payday loan industry, however it still does not take away the fact that consumers still need short term loans. If consumers still need a short term loan, like a payday loan or installment loan, then what are they supposed to do if these types of loans are banned in their states? WTAM.com is reporting that in the state of OH they are still struggling with consumers needing loans, but the loans are facing tough scrutiny.
Leadpile Lead Exchange recognizes that there are some state restrictions going on with this industry, but if there is going to be tough regulations, then shouldn’t there be some other type of short term loan that the consumers can look at taking out? If there is one door closing on the consumers, then there needs to be some other options available. What should be the available option to them? Ohio sounds like it might have a challenge on it’s hand to try and figure that out.

I came across this article about nursing homes providing payday loans to it’s employees and it intrigues me because this just goes to show you that there really are a lot of people that need extra short term cash. Nursing homes offering their employees short term loans might not be the answer to helping those that need help, but the point is that there are people everywhere (working and not) that are looking for some short term help. Regulating nationwide payday lenders to the point that causes places like nursing homes to provide loans really the answer? OR coming up with a solution to help those that need short term cash the answer? There has to be a middle ground where getting short term loans should be easier than having to necessarily go to your employer …right? Nursing homes are for taking care of our elderly AND payday lenders are for taking care of those in need of getting some quick cash. The payday lenders should not be taking care of the elderly and the nursing homes I do not believe should be lending money.

When someone needs some quick cash, most think of getting a payday loan because it is quick and no credit check is required. However, in recent years, credit unions have tried to come up with an alternative to a payday loan, but some seem to be similar in many aspects. Does this mean that our nation’s credit unions will be getting put under a microscope like most payday lenders? The unfortunate thing is that many of these consumers are needing “emergency” money, so places like credit unions are trying to jump in and help out their customers with creating these short term loans. There is certainly a need, or credit unions would not look at creating their own version of a payday loan, but really what is the difference? Is there some way all lenders can come together to create one “short term emergency loan” that can help our nations consumers get out of trouble? Leadpile hopes so, because we really want to continue to be able to generate leads of those that are looking to be connected with someone that can help them. Sounds like the credit unions and the payday lenders have a common goal >> help consumers! Right?

Leadpile has rolled out a new offer for the payday loan lead type, and we are looking for more traffic!
We are looking for traffic to Green-paydayloan.com through PPC, email marketing, banner or social networking. The top payout is currently at $73.60. If you are a Leadpile publisher and looking to drive traffic to the offer, you can locate the text link in your seller account under the “offers” tab. If by chance Leadpile is not already working with you, we would like to see you join our marketplace and generate payday loan leads as a Leadpile seller/publisher!
As we all know, a lot of consumers are looking for help in their temporary setbacks, so a payday loan is a lot of the time that in-between money that is going to help them in their current situation.

There has been alot of Leadpile posts about payday loans, and the various states implementing legislation on payday loans. California appears to be the next state to look at doing this. A recent article in Merced Sunstar points out that bill 377 is going through the legislature to attempt to regulate payday loans, however it does not have any rate cap incorporated into this bill. So, will this bill have enough ammunition for the legislature to see the need to pass it? Only time will tell.

Leadpile will keep an eye on this most recent payday loan news, and see what happens in the state of California (if anything at all).

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/

In recent news, Ohio is facing some potential stricter payday loan regulations. New restrictions such as giving consumers at least three months to pay back loans of $1,000 or less, forbidding lenders from getting around the 28 percent interest cap by imposing phony fees, requiring payday lenders to follow some of the federal fair debt collection rules in place for third-party debt collectors, and possibly imposing fines for violations of the law(s). This new bill is being referred to as “HB 209″, however it seems not all legislators are looking to support it.

Let’s see how this new potential legislation pans out. Leadpile will be watching.