Tips For Closing Debt Consolidation Leads

When you work debt consolidation leads, you're not just competing with other brokers... you're also up against all the credit fixers and bankruptcy pushers.

Your leads aren't living in a vacuum. They're being bombarded with T.V. ads for "get out of debt" schemes. And you don't get into credit trouble without marketers noticing the distress signals. That's why their mailboxes are stuffed with offers to bail them out of their debt.

What makes internet leads different is these people are actively looking online for relief for their debt troubles. They're in over their heads, and they're ready to talk to someone about a solution. Because leads are delivered in real-time, you have the chance to be the first broker to get their attention.

Recognize Their Other Options

Assume your leads have explored or are at least aware of their options, and talk to them about it. The broker who takes the time to point out the pros and cons of dealing with debt wins the prospect's trust. So why are you the better solution?

Here are a couple talking points:

Can you offer lower interest rates than consumer lenders and credit cards?
With rates on consumer loans and credit cards so high, most brokers and loan officers can. Lower rates equal lower monthly payments for your lead.
Will they save at tax time?
Unsecured loans don't give consumers any tax advantages - but a second mortgage or home equity line of credit might.
Discuss the dangers of bankruptcy.
Even though bankruptcy is an option, let your leads know it's widely considered the last resort people should take to get out of debt. Bankruptcy leaves a black mark on their credit that can last for nearly a decade - and make it harder for them to get life insurance, take out new credit, or in some extreme cases, even find a job.
Explain the difference between debt consolidation and debt negotiation.
Lots of consumers are duped by debt negotiation companies posing as "non-profits." Explain how using negotiation companies can damage credit even more, and sometimes cause their debt to triple the original amount the owed.

First-time buyers can get tips here. You can get more in depth marketing and sales tips for working leads in the Mortgage Lead Resources.

Interested in learning more about debt consolidation leads from ProspectZone? Talk to a Lead Specialist.

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