Foreclosures continue to soar, up 25 percent year-over-year. Nearly 280,000 homeowners have received a foreclosure related notice in October jumping 5 percent over the prior month, according to RealtyTrac.
Rising Consumer Debt and Sinking Economy
These rising numbers are sure to keep your debt business hoping. Unlike the rising number of bank bailouts and loan modification programs, ordinary consumer debt is getting little government assistance.
However, these borrowers being foreclosed on are certainly being strangled by other debts. They need debt counseling and debt relief beyond their mortgages. This is where debt settlement solution providers are going to be crucial to the US economic recovery.
Debt Consumers are Often Misplaced
There is over $900 billion in credit card debt outstanding alone, not to mention billions in mounting medical debt, student loans, and auto payments. These are festering obligations that are putting people in desperate and unrecoverable personal finance scenarios.
Many of these people are wandering about looking for answers that you can give them. Often they inquire online and in their confusion get into the “wrong bucket.” This is where aged debt and even aged mortgage leads can be a gold mine.
Why Aged Leads are a Winning Debt Settlement Strategy?
Here are a couple of reasons to consider adding aged debt leads to your marketing:
• People facing unmanageable debt go to the Internet for help
• Often they look in the wrong place like mortgage refinance
• After being harassed by collectors, they are often initially resistant to help
• Debt clients typically don’t respond to settlement services until they are in crisis
These are all great reasons to establish a program to diligently manage and build a relationship with your debt leads. The results will help the client, your business, and the economy.
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