7 Tips For Running a Successful Credit Repair Business

7 Tips For Running a Successful Credit Repair Business

Running a successful credit repair business is challenging at best with all the regulations and eyes upon your business. Following these seven tips can help you succeed as a trusted authority in credit repair.

Maintain Confidentiality
Trust is paramount to an exceptional client experience. People come to you with very personal and sensitive problems. Keep all conversations and correspondence private and secure.

Confidence – Believe In Your Ability To Help People
Regardless of the size of your company, you must put your best efforts to deliver superior service and understand that you are making a difference in the life of the people you touch.

Concentrate On Your Client’s Needs
Your customers should be confident that you are looking out for their best interest and are receiving the best service available.

Network, Network, Network
Always be networking with local financial business groups and businesses that deal with loans and financing. Get involved in online groups that cater to the clientele you are seeking to help.

Build a Respectable and Authoritative Online Presence
With the majority of people looking for credit repair searching the internet, it is important to establish a credible reputation and first-page website ranking in your local area first before seeking national exposure.

Deliver More Than What Is Expected
Deliver more than what your client is expecting. Don’t hold back even if it may exceed your fee structure. Add value where you can and deliver a premium customer experience.


Teach Your Clients About the 8 Types of Companies That Look at Credit Reports

Teach Your Clients About the 8 Types of Companies That Look at Credit Reports

 ender will pull an applicant’s credit report for virtually any loan application. However, even if you are not applying for loan certain companies will look at your credit report before approving you for services.

MoneyTalk News lists 8 types of companies that may have looked at the credit report of your clients or leads.

1. Credit card companies

Credit card companies will run a full credit report when applying for a credit card (Consumer Financial Protection Bureau CFPB).

Credit card companies also may purchase a data from the credit bureaus to offer prescreened credit card offers, thus the deluge of offers in the mailbox. This is allowed under the Fair Credit Reporting Act (FCRA)

2. Insurance companies

According to the CFPB, Insurance companies are allowed by the FCRA to access credit reports in conjunction with offering insurance to or setting premiums for your clients.

Although prescreening is allowed by federal law, the customer seeking insurance can opt-out of the process.

3. Employers

Requesting a credit report by a potential employer is not uncommon in association with a background check. The employer must get a potential employee’s written permission before they can pull a credit report.

4. Telecommunication companies

Companies that handle phones, television, internet and the like may draw a credit report to determine your clients’ bill payment history and make a determination of the likelihood that they will pay their bill in a timely fashion.

5. Public utilities

In order to secure gas, water or electric service, a person could be asked to provide a credit report to determine if their bill payment history is in line with what the utility companies deem and responsible.

6. Government agencies and courts

Government assistance is a service that is constantly being jammed by unscrupulous people. These agencies, when people apply for assistance could be subjected to a check of their credit in order to prove they qualify.

Also, as permitted by the FCRA, credit reporting agencies can be required to release the credit history of a person in regards to child support and enforcement.

7. Landlords

Landlords or apartment management companies often require a credit check for potential renters to qualify them for lease. This provides a good barometer of their timely and late payments.

8. Nursing homes and assisted living facilities

You can be sure, that when applying for assisted living that you will be subjected to a credit background check. Assisted living facilities treat applications just like applying for an apartment. 

While these are the main 8 types of companies that can look at your credit if we have missed any let us know on our Facebook page.