Start a credit repair business today. The current economic climate is a challenging one, and many families are struggling with poor credit records. Some people made bad decisions when they were younger, and are now trying to undo the mistakes they made. Others were in a good position, and then thanks to the recession or other things out of their control they found themselves on a lower income and with rising bills.
Whatever the reason, these people now have poor credit records, and if they want to remortgage, get a new house, or even borrow money to start a business they need to repair their credit records. Helping people to improve their credit rating could be a lucrative business.
Could You Start a Credit Repair Business?
There are some good income opportunities to be had for people who start a credit repair business and who are good at marketing it. Credit repair is something that you can do remotely, and there is a lot of demand for it right now.
The challenge is doing it the right way so that you don't leave people in a worse position than they were before they worked with you. Many credit repair companies advise people to lie to the credit reference agencies, which might temporarily work but it is illegal, and will eventually get found out.
Legal Requirements for Credit Repair
If you want to start a credit repair business, then you will need to have a license to operate as a financial services business. It is a good idea to set up as an LLC, not only for tax benefits but for the liability protection that it offers.
Seek legal advice before you make any decisions here so that you do not end up in hot water if anything goes wrong.
Some states require people to have a specific occupational license. Talk to the county licensing board to make sure that you are operating within the realms of the law.
Credit Repair Software
Once you have the paperwork sorted out, the next thing you will need to do is get some credit repair software which you can use to work with your clients.
Credit repair software provides you with credit reports for your clients from the main credit reference agencies, as well as other metrics which you can use to identify issues with their credit (mistaken identity/old flatmates or exes still being associated with them, etc).
It also helps you find the best products to use to build each person's credit rating.
Keeping Track of Your Customers
Another thing you will need is a way to keep track of the customers you are working with. To really grow your business you will need to have a large database of customers and a steady stream of new clients.
Credit repair software is a useful tool for this and there are other open source tools that you can use as well.
Start a credit repair business using good credit repair software that will integrate with those tools so that you can track customers from that initial contact via your lead generation platform, all the way through to them subscribing to your service.
You now have a system to help thousands of people to their financial goals. Take the next step and watch the Webinar to get started.
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Disclosure: I am an independent Credit Repair Cloud™ Affiliate, not an employee. I receive referral payments from Credit Repair Cloud. The opinions expressed here are my own and are not official statements of Credit Repair Cloud.