I am considering adding people going through divorce as well as bankruptcy to my mailing campaign. Can anyone share their experiences and insight regarding mailing to these types of leads? Also, if anyone would be willing to share the wording used for each target that would be awesome! Thanks So much!
Bankruptcy leads are no good as federal law clearly say's that someone contemplating bankruptcy can not sell or further indebt themselves for a period of 6 months prior to filing for bankruptcy. This means you can't intend to go bankrupt but take a new credit card account and purposely run it up right before filing for bankruptcy or sell a property for less than it's worth to avoid paying creditors 6 months prior to filing for bankruptcy.
And a property can not be sold in bankruptcy without approval of a judge, in a lot of cases properties will be ordered sold to pay creditors when a single home exceeds the current equity exemption allowed by federal law. Usually a judge will order a trustee be charged with handling details of a retail sale on behalf of creditors.
Now divorce is an equal challenge as it takes signatures by both husband and wife to sell a property and although both know the house disposition may need to change, they seldom agree about what should happen and once the divorce is filed the court needs to be notified by all parties attorney’s as to disposition of real property.
If a divorcing couple can not agree often times a judge will order a court trustee to sell the house and divide the proceeds between parties according to the judges decision on percentage of distribution.
It is not impossible to buy a home from a divorcing couple but has it’s own challenges.
Thanks for your input. Very valid points.