Bankruptcy mailing list
Due to the current nature of the USA and UK credit crunch, bankruptcy has become more common place. Because of this, finance businesses have targeted their services towards individuals and businesses which have been through bankruptcy, or have had problems with other organisations that have recently gone bankrupt.
Bankruptcy can be forced on anyone who owes a minimum of £750 to creditors; if the individuals who owe this money cannot pay it back they are forced to enter bankruptcy. Most people realise they are in difficulties before they are forced, and decide to make themselves bankrupt before a creditor forces them to go through the process.
Financial lending organisations and credit advice counsellors now have a larger market to target and are focusing on acquiring data surrounding recent bankruptcy filings. The data which is available within bankruptcy mailing lists are a list of people who have filed for chapter 7 and 13, and have been placed within the public domain to make organisations aware of their credit status. Organisations that benefit from this data are:
Debt Management Agencies Credit Advice Counsellors Debt Consolidation lenders
Bankruptcy mailing lists provide a list of contacts which can be treated as sales leads for the above types of businesses, and although these leads maybe in financial difficulty the services offered are specifically targeted for individuals that would benefit.
Because the leads contained within bankruptcy mailing lists all meet a specific criteria the conversation rate is high, and although these people maybe in a vulnerable situation they have got themselves into it because of lack knowledge or support. So the services offered are designed to serve this need, although high interest rates are often tied to these services.
Bankruptcy is an improved process that came into existence in 1571, previously people who could not pay their debts were imprisoned.
The advantages of becoming bankrupt are:
All debts will be removed from the individual A maximum of a three year affordable payment plan is created White goods and household products which are required to live will not be ceased to repay debts Bankruptcy only lasts 12 months, any outstanding money will be written off except for government loans such as ‘Student Loans’ which already offer a favourable payment scheme.
The disadvantages of becoming bankrupt are:
As when a limited company dissolves, the information is made public and should be published in your local newspaper and the London Gazette. A monthly contribution will be required for any income that is not required for basic needs Credit ratings will be seriously affected and the fact the individual was made bankrupt would last for six years. Homes and assets can be used to repay debts
The above is a summary of bankruptcy and should only be used as a guide to the process, seek advice if you are considering it. More information can be found here
