BANKRUPTCY LISTS: SALES LEADS FOR SUB-PRIME

2007-03-08 10:33:40

( Legal )



Bankruptcy lists are database of individuals and businesses suffering or have been discharged from bankruptcy. The database is compiled from courthouses across the United States. It is verified daily and updated on a regular basis. Demographics in the bankruptcy list are enhanced for it to be user friendly and comprehensive.

More than 20 million bankruptcies are compiled in a bankruptcy list. Data compilers, list brokers and mailing houses provides bankruptcy list for a fee. Data compilers sell bankruptcy list to sub-prime lenders, list brokers and mailing houses. They work with them to design standards in identifying sales leads to potentially increase profits. List brokers and mailing houses resell bankruptcy list to sub-prime lenders. Hiring list brokers to buy and sell bankruptcy list is more costly for lenders than purchasing directly from data compilers.

Market Information in Bankruptcy Lists

Name, complete mailing address, bankruptcy filing and discharge date, type of bankruptcy filed and status, bankruptcy case document number, lawyer’s name and the country where bankruptcy was filed are the information included in each data in bankruptcy lists. Sub-prime lenders select sales through the type and status of bankruptcy filed the regional locations of the bankrupt individuals and the date the bankruptcy was filed.

It is important to identify whether the bankruptcy case was discharged or dismissed to initially assess the financial status of the individual. The type of bankruptcy filed gives sub-prime lender an indication of the gravity of the financial situation of the potential client. It helps in identifying whether the potential client has the property to put up as collateral for sub-prime loan.

Individuals included in bankruptcy lists are known to respond to marketing offers related to credit repair, secured credit cards, home refinancing, unsecured debt consolidation, property assurance and car deals. The sub-prime industry becomes a competitive market with the large volume of individuals and businesses applying for bankruptcy every year.

Lenders must apply competent and sophisticated direct mail facilities to reach out to individuals in the bankruptcy list. Purchasing bankruptcy list with duplicates must be avoided to ensure buying outdated records. Sophisticated mailing facilities ensure that your marketing mails will not be treated as spam increasing the probability of client response.

The sub-prime market is competitive. Lenders must make sure that they use bankruptcy lists to their marketing advantage to capture larger market and increase sales.


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