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The Future of Debt Settlement Leads by Nick Passalacqua

April 30, 2009 by Pablo Palatnik

Nick Passalacqua of Predictivedollars.com is a cutting edge entrepreneur with over 8 years of expertise in the lead generation field and plans to expand the growth of the company through its recent purchase of Savebig.com. Savebig.com will be a resource to empower consumers to spend less and save money in order to free up cash for the things they really want out of life. This will allow Predictivedollars.com to enter into multiple financial verticals among other products and help consumers save big on everything across the internet from credit card debt to electronics.

Mr. Passalacqua previously owned another lead generation company which he grew to well over 1000 clients and was later sold to one of his competitors. He was recently quoted, saying “I am excited to be in the lead generation industry where I can excel due to my innovative nature and have mutually benefiting relationships to all parties involved not to mention our ninety percent client retention rate to back it up.”

The company is currently expanding its workforce by 8 times its current capacity at their new corporate headquarters located in Boynton Beach Florida formerly the headquarters for Motorola.

Nick, tell us a little about Predictive Dollars?

A: Predictivedollars.com is a quality lead generation firm specializing in debt settlement leads among other lead gen verticals. We own and operate a significant amount of web properties in which we generate high quality and a high quantity of leads on a daily basis. Our web properties are dedicated to consumers who are financially distressed and in need of a solution to eliminate existing debt. To date we have generated over 47 billion dollars in consumer debt inquiries and all leads are delivered to our clientele in “real-time” after they pass a 16 point electronic validation system for accuracy.

Why is it a good time to be in the Debt Settlement Industry?

A:I am glad you asked all though that is a tough one. There is no doubt the debt settlement industry is growing at record paces and their is plenty of opportunities for consumers to potentially alleviate their existing debt and also for debt settlement companies to prosper like never before. The challenge the industry currently faces is as the economies financial distress grows daily it is unfortunate that some families must choose between feeding their families or paying off their debts and the choice is obvious. This creates which is known in the debt settlement industry as fallout ratios and they are at record highs though many DS companies remain cash flow positive.

What would you tell any affiliate trying to generate B2C Leads?

A: I would tell them to take the high road of standards and ethical practices at all costs. Many leads companies get into the business with the intention of short term gains and wind up with an unprecedented amount of irrevocable long term failure just like some debt settlement companies. I am ecstatic to say I wear the name of my company Predictivedollars.com proudly.

How do you see the standing of the Lead Industry as you see it today?

A: When it comes to the lead industry the battle over quantity vs. quality and lead vendor vs their customers is never ending. April, 2009 statistics show no signs of letting up, especially as dollars remain tighter and sales cycles longer. You know this battle and the side you’re on usually boils down to your role on either the marketing or sales team.

Marketing wants a flood of leads and to keep the pipeline full. The sales team wants a flood of leads, too — but they don’t want to waste their time with unqualified leads or dead-ends. Oversimplified? Sure. But in general, this is still how the quantity vs. quality tug-of-war plays out in many organizations.

The most devastating problem overall is debt settlement companies which keep non performing employees and deflate the overall results of perfectly legitimate lead companies. Many debt settlement companies believe more employees is a good thing when in fact 80% of their business comes from 20% of their employees, this is obvious sales 101. Do the math? This causes an extreme deterioration to a companies over all R.O.I. and the lack of results are blamed on the lead providers. Also technology and relevant communications play a crucial role in a companies overall chance of survival in this day and age and PredictiveDollars.com by far is steps ahead of our competition on every level of technology and communications we just wish more debt settlement companies would invest richly in technology as well.

What do you think about incentivized leads?

A: 3 words. Set for failure.

Is the current economy hurting the lead industry?

A: Absolutely not. As the economy toughens the amount of lead inquiries for those in need of a debt solution rises. The only challenge we face as a company is state to state legislation in which hurts our overall margins because most debt settlement companies can only do business in a handful of states and we take in lead inventory on a nationwide basis.

What should new affiliates or lead generators be watching out for?

A: They should watch and learn how to adapt to market conditions like a chameleon and I will leave it at that.

UPDATE: Since there are some comments regarding the lead verification system PredictiveDollars uses, below is an image:

**SPECIAL NOTE**: PredictiveDollars is a client of mine. I have absolutely no involvement in Predictive Dollars business, only SEO. Please do not leave comments invovling Predictive Dollars employees, this is not the forum to do so. This is simply an interview regarding Debt Settlement Leads which was an industry (Lead Generation in general) I was invovled in and always had an interest. You can contact the owners and employees of PredictiveDollars for any questions or concerns at their website, www.predictivedollars.com. I try to do interviews with many clients I work with on a temporary or daily basis. Thanks.