This isn't an article on how to capitalize on others misfortunes...er...not really. Honest.
Lets face facts here folks, the economy is down the tubes--almost every day we hear of another financial icon going belly-up, housing sales are non-existent, mortgage lending is impossible. And I'm an optimist! No wonder record numbers of individuals are filing for Bankruptcy protection, even as the restrictions for such actions become tougher to qualify for.
So, for the people who find themselves helplessly upside-down, Bankruptcy moves from an option to reality. Once it is reality, what are they to do? Are they to disappear, of course not, they need to live and they hopefully will be working toward remedying the life/lifestyle circumstances that put them inexorably behind the proverbial eight-ball in the first place.
Isn't this a Marketing Blog?
Ok, so as a Marketer, don't I want to avoid these folks like the plague...especially in today's tenuous economic environment? Depends. Depends upon what you do, and who you offer it to.
But before I go into this in more depth, let me tell you about the two types of Bankruptcy mailing lists that are available.
Types of Bankruptcy Lists
Bankruptcy Fresh Filers - Consumers who have just filed for Bankruptcy protection (Chapter 7,11,12 or 13). This type of file can be selected by Filing Date as well as the aforementioned Chapter type. These people seek a "fresh start" to begin the road back to fiscal responsibility. This type of list is updated Monthly.
Bankruptcy Discharged Filers - Consumers who have just met the requirements of their Bankruptcy filing and had their case successfully discharged. Discharged date and Chapter type (7, 11, 12, or 13) are also selectable and this file is also updated Monthly.
In both cases above, lists like these should be selectable by a host of demographic (Age, Income, Education, Gender, Marital Status, etc...) overlay data and perhaps phone numbers, to enable you to target a specific type of prospect.
The Path of a Discharged Bankruptcy Filer
Once a person or persons is discharged, they have to re-establish a positive credit history before they can apply for a credit card or a loan. Marketers offering "secure" credit and other forms of payment options will be of benefit to these individuals until the person re-establishes his or her credit. Discharged bankruptcy filers have to find financial institutions, banks or merchants who are willing to give credit cards or financing alternatives.
Bankruptcy filings continue to increase. From a marketing perspective, this means that these types of Consumers will continue to provide a significant quantity of prospects to market to. So if you are one of the above, or are a creative marketer, then using Bankruptcy mailing/phone lists is something you should add to your marketing mix.