Bankruptcy leads are of great value to bankruptcy lawyers, credit counselors, credit card providers, and many other institutions looking to make a profit from people in debt. Where do they come from?
The names in a bankruptcy lead list are culled and compiled from public court records across the United States. There are 94 federal bankruptcy courts in the U.S. where bankruptcy cases can be filed. Bankruptcy lead companies track these filing, sort them by criteria, and sell them to interested parties.
Every business needs leads to survive and industries such as debt consolidators, mortgage loan offices, insurance providers, and many others are always looking to lead providers for leads to help expand their business and one of the better ways of obtaining information regarding bankruptcy leads is to use lead lists.
The Internet is a great place from where to get bankruptcy leads. If you are beginning in your search for bankruptcy leads, you can go online and input phrases like "bankruptcy leads" into search engines such as MSN, Yahoo and Google. You'll literally get thousands of companies that are in the sole business of providing bankruptcy leads and which have databases that they will place at your fingertips for a price.
Most sites will let you request and receive a quote directly from their web site. Others require that you email the companies and a real person will get back to you with a quote. Most will also be able to give you database samples so you can determine if their list is right for you.
The Bankruptcy Database
It's rare that you'll find a lead company dealing solely in bankruptcy leads. They'll usually have other financial related information in their bankruptcy database as well which you can tap into if you think they would be of benefit to you. In addition to bankruptcy information, the lead companies may also be able to provide you with other financial related information such as income, other debts, earlier bankruptcy filings, credit history, and so on.
Bankruptcy leads will also contain contact information such as address, phone numbers, places of employment, and in some cases even email addresses. Normally, every additional piece of contact information will cost you more money.
When dealing with lead providers, the most important thing is the quality of their leads. How often is their database updated? When was the last update. What is their policy for nixies, i.e. contact information that turns out to be incorrect. Will they refund you money or simply apply a credit to your account. What is the lead company's reputation in the industry?
Be especially vigilant in renting email lists. If your list turns out to be a spam list and you email to it, you may find yourself facing thousands of dollars worth of fines for violating the CAM Spam laws. If you are collecting phone numbers, ensure that you only receive phone numbers that are not on the government's "do not call list."
There are a lot of legitimate bankruptcy lead companies that you'll find on the Internet but there are also plenty of companies out to separate you from your money while providing you with outdated, illegal, or fake information.
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