Debt is a serious problem impacting more and more Americans each year. Savings have dwindled to nearly nothing for the average American family. Back in September and October of 2010 the FTC passed dramatic regulatory actions that meant big changes to the debt relief industry by implementing fee bans, full disclosures and several other pro-consumer changes. These changes also applied to marketing companies who generate debt leads.
This change to the debt relief industry left many companies devastated and several of the larger companies ended up closing their doors. Countless debt lead generators moved into other fields. However, First Impression has been faithfully working in the debt lead space for many years.
What Is a Debt Lead?
A debt lead (in the eyes of First Impression anyway) can be most easily defined as:
Any user initiated action to begin the process of finding relief from any kind of debt.
Types of Debt Leads
There are many different kinds of debt leads and we'll try to walk you through each one
Debt Consolidation Leads
Debt Consolidation Leads are leads for debt consolidation loans. Debt Consolidations loans are, simply put, a loan taken out that combines all outstanding debt into a single balance with (hopefully) a lower APR than what they were getting with out of control debt.
Debt Settlement Leads
Debt Settlement is known by several different terms:
- Debt Negotiation
- Credit Settlement
While Debt Settlement can be known by any of these names, in general, the leads are simply called "Debt Settlement Leads" and these leads are generated by people that are looking for help working with their creditors to find a lower debt amount that the debtor is able to pay immediately and to render the debt as paid in full.
Back Taxes Leads
Similar to debt settlement leads, Back Taxes leads are specific to helping people with government (state and federal) debts and fines related to unpaid back taxes. The goal of these leads is to work with state treasury and the IRS to come up with a path to debt resolution through either lowering the amount due, creating a payment plan, or both.
Student Loan Debt Leads
This is the fastest growing segment of debt leads. Student Debt has exploded to over a trillion dollars and people all over the country are struggling to pay back these loans. Student debt can quickly go into arrears causing a considerable amount of damage to an individual financial standing. Student Debt leads are generated by people struggling with education based debt who need help negotiating with creditors to create a payment plan that puts them back on track.
How are debt leads generated?
There are hundreds of methods used to generate debt leads but the only way First Impression generates them is with our revolution LeadPath system.
We own several websites specific to driving traffic from people with debt trouble. Using a series of proprietary technologies we convert these people into leads and then validate them before sending them off to our clients.
What is the difference between a fresh debt lead and an aged debt lead?
At First Impression, we don't deal in aged debt leads. Our studies have determined that the best chance a consumer and a provider have is to work together and to capture a consumers attention when their mind is still on the subject.
To put the point on it more clearly-- an aged debt lead may cost just a fraction of what a fresh debt lead costs but we believe you ought to consider the human impact. If you have to make a multitude more inquiries with an aged user to make a sale is that really time well spent?
What does a typical debt lead look like?
While we can handle requests for more information our standard debt lead includes the following information:
- First Name
- Last Name
- Email Address
- Phone Number
- IP Address
- Zip Code
- Estimated Debt Amount
- Submission Timestamp