Debt management "on the up" at the Finance Junction

[russell cpanuk]

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Just to keep you up-to date with this campaign, The Finance Junction, merchant payouts are as follows

£100 IVA Criteria
£25 Debt Management Criteria
£8.50 Consolidation loan Criteria

Remember 1 form, which works out from the fields on the application submitted the exact criteria, and rewards you the affiliate with the payment in real time.

Insolvency figures reported last Thursday were down slightly, falling by 0.6% in 2007, according to the Insolvency Service, after a record high in 2006. 64,480 bankruptcy orders were made, a rise of 2.4%, but this was balanced by a fall of 4.9% in IVA's to 42,165.

However debt management is on the way up, this year the expectations are high, the industry leaders are reporting an increase of over 8% already this year. This is being compounded by the tightening criteria in the credit market. Egg announced it would be withdrawing credit cards from 161,000 of its customers. The company have performed what they call a ‘one-off’ review after being bought by US based Citigroup for £575m last year, and want to rid themselves of customers they believe pose an unacceptably ‘high risk’. They have written to 7% of their customers, giving them 35 days notice of their intentions.

To join this campaign which is going from strength to strength and has not changed the criteria or payout since launch e-Financial Affiliates

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[123debtsolutions]

Tell me about it... That's why we are producing more DM leads than ever before and merchants are screaming out for them

I have unlimited capacity on all DM & IVA leads.

I wonder who can get there hand on the subscribed egg customers database....

[russell cpanuk]

You know what gets me Lee, everybody is crying out for IVA leads, but only 42,165 were completed last year, and figures are said to fall again this year. Using my calculator “that can put decimal in the correct place” that’s only 3513 per month, the big top 5 IVA companies are doing most of them, which leads me on to:- I know how many we produce each month, you may do similar, Michael does a few, affiliates have their own deals direct.

What the hell are the merchants doing with them ??

[steve333]

Hi Russell,

Trust all is well. As usual you make a valid point.

IVA's have decreased, we are currenly providing just under 320/mth and that requires a lot of effort, it is also a drop from previous mid 2007 highs, but certainly no shortage of buyers.

There will be a pickup over the coming months with the new creditor/IP agreements so the stats will rise as the cummulative utility/credit card/living expenses/mortgage term ends kick in.

Debt management is now part of most IPs forward planning and we are busier than ever with this, but again the main issue is quality. We are assisting our affiliates/agents/introducers to use other marketing facilities via LeadX inhouse, so as always it is a balancing act.

Anyway interesting times ahead.

Best regards,

Steve333 steve@leadxuk.com
Affiliates LeadXuk - Merchants LiveXuk - Customers Mycash-uk - One Form 25 Products.

[Peter1_G]

Hi Steve,

I see you still have a sense of humour:

"IVA's have decreased, we are currenly providing just under 320/mth and that requires a lot of effort, it is also a drop from previous mid 2007 highs, but certainly no shortage of buyers."

I hope you mean IVA leads, @320pm that would mean you are providing 34 approved IVA's at a very respectable 10% conversion (that should also answer Russell's query as what merchants do with IVA leads)

if not then @320 per month you would require 3,200 good IVA leads going through the system, and as i have never seen more than 25 a day from a real supplier, I am sorry but i don't think so! also 10% of the whole market!

Just to be clear an IVA is not debt management and even with very strict vetting and more information than the bible, it still may not fit an IVA as the Best Advice route for the consumer which IP's Have to adhere to;

Contrary to everyone's belief "The Insolvency Act" which is the "protocol used to prepare IVA's" is longer than the instructions on a box of matches or 8 fields on a website which ever you prefer.

"Lead providers" or networks and affiliates are exactly that!! "providers of Leads" so by adding extra fields or information, do not think that when the requested criteria is reached that this is it!!! "wow an IVA"

The reason the IVA's have dropped is probably very easy to answer, Debtmatters who had 12% of the market in 2006 do not advertise anymore and a couple of other companies in the top 5 do less advertising than they used too! add to that banks non-acceptance and reduced fees and a fall in the market seems obvious. but more importantly for lead providers, criteria needs to be tighter in all marketing channels along with competitive pricing. If you all wish the IVA market to continue for affiliates please be aware of the market your in.

Regards
Peter G

[steve333]

Thanks Peter,

Some reasonable assumptions by you. You sound a lot like someone else I know on the forum,but hey.

For the record we have links with over 1100 websites, on average accrue over 8700 online applications per month of these appx 4% convert to IVA/DM status. From there it can take up to 5 weeks to complete a full packaged application with all documents for underwriting.... from there it is then off to the Merchants.

Just ask Lee we indeed do all the hard work. I hope that explains the difference between the lead (Via links/site/affiliates/introducers et al) and the referred validated and qualified client (to the Merchant).

An IVA or Trust Deed is indeed not Debt Management in the PayPlan sense. Its the lesser option in financial terms than bankruptcy and again for the record and anyone interested in the IVA bible, just click the following....IVA

So LeadX are not just a lead provider, check the site under Merchants. We accrue the leads and package the product, thats the end value for us, granted at a cost, but its all supply and demand.

Again you are right about the instant IVA, the process as mentioned is time related, with many factors. That is why a good affiliate is only interested in providing a quality lead and getting paid for that. The rest of the work is intensive but worth the effort.

With regard to Debtmatter, we dealt with them for 6 months and are a good company, there are other reasons why they left the market, just ask James Dean of DM and there current diversification programme may or may not pay off.

The top five reduced advertising because the TV footfall figures were terrible. I know of one firm in January 2007 who spent £150k on TV adverts and got 6 qualified clients from that !

No wonder they are laying off staff in the marketing departments and looking at all other angles for cost effective client accrual........ AKA LeadX. We are currently in my opinion the best in the UK at the IVA/TD sector, for quality controlled volume: others have their niche's.

Our affiliates get a great service and paid well our Merchants are delighted with our product delivery and quality. Forget the mathematics of reduced numbers and concentrate on the quality of provision.....thats my advice.


Best regards,

Steve333 steve@leadxuk.com
Affiliates LeadXuk - Merchants LiveXuk - Customers Mycash-uk - One Form 25 Products.

[Peter1_G]

Thanks Steve,

I just don't like wrong figures, 4% are IVA/DM = 348 as with my figures on a good day internet enquiries @ 250 per day leads 10% fit IVA criteria (15K blah blah)=25 and 10% of those convert.

So you get 34 iva's per month....yes?... no?... I was right?........ or was I? missed it again... dammm!


As a merchant i will also say "I don't think I would wish to become the next customer of Debtmatters lead provider!" the quote from Debtmatters was: "They were unable to continue to produce IVA's profitably due to excessive aquisition costs and banks criteria for approval" well done!

Regards
Peter G

[steve333]

Thanks Peter,

Ok so you are a stickler for exacts... I did say appx and yes you did miss it !

With regard to Debtmatters if you look under the jargon of their last corporate report and who the backers are you can see why they withdrew. They are giving the other financial products a bash and that should benefit those that are interested.

Most of these so called big gun IVA providers need to diversify in a hurry.... they worry about the so called "miselling IVAs label" that is looming and all the cushioned client bank in the world will not help if that comes crashing in.

So from my point of view it is back to basics, with quality of product and best practise to the customers, fashioned out of this is a reliable model for a great service to all.

Best regards,

Steve333 steve@leadxuk.com
Affiliates LeadXuk - Merchants LiveXuk - Customers Mycash-uk - One Form 25 Products.

[russell cpanuk]

Guys I didn’t need you to explain what a merchants do with IVA leads, “it was supposed to be a throw away question”

The Finance Junction is a debt related site, if the applicant’s criteria fits what the merchant has asked for, they will pay the affiliates accordingly. Affiliates have to do no more or less than that.

All very interesting your little chat, however you are not part of The Finance Junction, and probably never will be, so why hijack my thread?

[Michael_Anthony]

My own view is that this sector is now looking a bit overcooked in terms of CPA's.

We are currently generating more IVA and DM leads than we can sell, whereas many other networks, paying more per lead, are struggling for volumes.

Lee/Russell/Peter - feel free to contact me if you need more leads. Steve 333, you too if you have now dropped the onerous form and requirements.

[jasonbuksh]

My own view is that this sector is now looking a bit overcooked in terms of CPA's.

We are currently generating more IVA and DM leads than we can sell, whereas many other networks, paying more per lead, are struggling for volumes.

Lee/Russell/Peter - feel free to contact me if you need more leads. Steve 333, you too if you have now dropped the onerous form and requirements.

Hi, I'm in the market for some Debt Management Leads.... could you PM me with some details. We can take on as many as you have. Looking at the forum - there are plently of sharks out their - I'm not sure how we can go about building trust in exchange for leads.