Get ready for a jump in debt settlement leads.
Based on the Consumer Credit Report released by the Federal Reserve for February, we are seeing the balances of consumer credit cards going down, the lowest we have seen in 31 years.
This report shows a trend that will probably hold steady for months to come, if not the year. Consumers are not relying on credit cards to get through the recession. Also noted was an increase in people paying down their debt.
In tough times, people are going to start making changes. Consumer spending is down and people are starting to pay off their debt. This means we will start seeing an increase in the amount of debt leads coming in.
How do you grow your business and make sure you are getting the most from your debt consolidation leads? Use proper filters. One of the most important things you can do is make sure you get unsecured debt leads that are set up to help you succeed.
Pay attention to the amount of unsecured debt your debt settlement leads are carrying. You don’t want to work a lead that has less then $10k in debt. Check to see how far behind they may be on payments to help consolidate the debt. You want consolidation leads that are at least 2 months behind.
The last thing to do is to make sure to look at your past debt leads. Compare the debt settlement leads that you were able to close, to those that you didn’t. Make note of the differences and start going after the leads that are similar to the ones that you closed.
In a slow economy, there is no reason why you can’t grow your business by working debt consolidation leads.
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