Credit Repair

The 5 Basic Steps You Must Follow To Start A Credit Repair Business

If you are planning to start a credit repair business, there are several factors that you need to take into your careful consideration. Every stat has certain regulations in this regard. Before you start your business, it is very important for you to make sure that you are not violating any laws. If you do not have much knowledge about the relevant laws, it might be a nice idea to consult an expert attorney who specializes in this field of law. When you start a credit repair agency, your task will be to work on behalf of your client in a way that should improve his/her credit score over a certain period of time. The process may require you to deal the credit bureaus and with the creditors of your clients. If you want to stay in this business, the most important thing that you must keep in mind is that you do not have to make promises that you cannot fulfill. Do not make big promises just to attract more customers. For example, you cannot claim that you have the ability to get all negative entries removed from your Client’s credit reports. If the negative entries are correct and complete, there is no way to remove the same. Following is a brief rundown on the five basic steps that you must follow before starting a credit repair agency.

Obtain A Copy Of Your Own Credit Report

In order to start a credit repair business, the first thing you have to do is to obtain your own credit report and review the same thoroughly. As per the laws in the United States of America, it is your legal right to get at least one free copy per year from the three major credit bureaus (TransUnion, Equifax, and Experian). Find out if your credit report is complete and correct from all respect. If you find that some of the entries show errors, you must follow the set procedure and get the same rectified. The process here is to file a dispute with the relevant credit bureau.

Acquire Knowledge About The Industry

The review of your own credit report will get you a practical hand-on experience on how the report can be repaired by following the proper procedure. The next step to start a credit repair business is to acquire as much knowledge about the industry as you can. It is very important for you to keep in mind that there are many unscrupulous companies out there who make big promises but never keep them; their only objective is to take money from their clients and run away. Therefore, you must plan everything in a way that should allow you to promote your business as genuine, trustworthy, and reputable. A nice way to get knowledge about the credit repair industry is to attend free workshops that are often conducted by banks. You can also find many ebooks on this topic. Besides all this, you are also advised to consider consulting with some experts who are already doing well in this business.

Learn How Credit Reporting Agencies Work

Before you start a credit repair business, you may also like to go through the official websites of the various credit reporting agencies in order to learn how they really work, what are the procedures to follow for different types of disputes, how long does it take to get a particular type of dispute resolved, what are the charges, what types of entries can never be removed, and other such things.

Understand The Role Of A Credit Repair Expert

Once you have a thorough knowledge about the industry, market, and how the credit bureaus work, you must also acquire knowledge about your roles, limitations, and responsibilities in the process.

Consider A Franchise

If you do not want to invest a lot in order to start a credit repair business and you still want to play it safe, you are advised to consider a franchise. For this, you will however have to do an in-depth research, as there are many companies out there that allow you to work as a franchise without much investment; many companies even provide you clients, a credit coach, a free website, and even a laptop. But obviously, such opportunities are not available for just anybody; there are certain basic qualifying criteria that you must meet.

Last, but not the least, many companies these days are selling different types of software programs for those who are going to start a credit repair business. It is important to note that this type of business usually does not require any kind of software programs, but a couple of programs might still make your work easier. Therefore, it is always wise to do a thorough comparison shopping first before you go ahead and invest in such software programs.


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Posted in Credit Repair, Credit Repair Services | 1 Comment »

One Response to “The 5 Basic Steps You Must Follow To Start A Credit Repair Business”

  1. John says:

    Credit Repair business does not need specialized degree or some specific education, all you need is to start your career as doing business in the field of credit repair. Credit Repair agency can give you a good idea of starting your business. First of all you have to start it with your own credit score; you can get your credit report from the credit bureau absolutely free. Through study of your credit report is very important because then you will be able to know each and every thing about the entries and if there are any errors present in the rport, you can get them corrected by following the correct procedure. Credit Repair agencies can do a lot for the person who is suffering from bad credit score but f you are going to start a career in this field you have to plan your work according to some good ethical values. If you start your agency with some genuine standards and reputable ideas, you can reach on the top of business field. Credit Repair expert plays a very important role in the life of a person who is suffering from a bad credit score or surrounded from multiple debts. If you can not do a big investment you can go for getting a franchisee since it will not demand much investment from you.

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