SAN DIEGO, CA, August 12, 2010 — Suddenly, the debt settlement industry has been forced to shift their focus dramatically to better provide financial services to struggling Americans. The Federal Trade Commission’s regulation of the debt settlement industry has created an opportunity to help small business owners and solve the growing problem of financial hardships for the average American.
The new FTC ruling prevents debt companies from charging any upfront fees before they have reduced a client’s unsecured debt. Many of these small businesses cannot afford to service a consumer without immediate compensation, while paying for overhead and marketing expenses. Several companies have decided to close their doors, but the larger to mid-size companies have turned this ruling into a golden opportunity to expand. One way they are helping debt strapped citizens is by offering other services like bankruptcy and loan modification.
David Budny, Marketing Manager at Greenshield Financial Services explains, “We are excited to expand our business and continue to help consumers with their financial future. Where one person sees gloom and doom, another finds opportunity. It has always been our position to help the consumer first, and this will continue with our expansion into bankruptcy.”
With that said, Underground Elephant, a premier lead generation firm, has received an influx of bankruptcy lead orders from new and current debt clients who have shifted from what is now an unstable business vertical. Underground Elephant’s Director of Business Development, Melissa Orban, explains, “The FTC ruling has created an intense demand in the marketplace and that’s bankruptcy leads. Since we control 100% of our marketing with in-house secure lead generation methods, we have completed the clean transition to the new bankruptcy vertical.”
Underground Elephant is a performance-based marketing technology company that specializes in customer acquisition solutions in a wide range of vertical markets. They specialize in delivering highly qualified customers directly to clients, and are dedicated to improving the user experience.