How To Repair Your Credit - 5 Simple Steps
The credit repair business will remain profitable regardless of the state of the economy
. Take for example the current recession - while many other businesses have been struggling, the credit repair business has been more successful than ever. Credit in our society has become a near necessity for existence. About 78 percent of American citizens have financial problems, which directly impacts their credit score and report. Should it surprise anyone that the credit repair business is one of the top choices for home business enthusiasts?Besides continued demand, thera are a great many other advantages to the credit repair business. It can be started with very little investment, provides one a great deal of satisfaction, is very lucrative, and can be done with very little advertising. Word-of-mouth referrals are often all that is needed.
OK, let's move ahead!
Step 1 To began, you must have copies of your clients credit report from the three major credit bureaus. Use any of these methods: Visit www.annualcreditreport.com or call 877-322-8228. An alternative method is to visit your favorite search engine and enter "free credit report." There will be a surprising number of results.
This is the most important step, since as many as a whopping 90 percent of credit reports have errors. These mistakes are often why people are unable to acquire credit. As a credit repair business you should know how to instruct your client to get these free reports, and know how to read them.
Step 2 Examine the credit report diligently for mistakes. Be on the lookout for unpaid loans your client believes may not be his. This should be an issue that alerts you to the possibility of identity theft. Lots of these kinds of thefts involve small amounts, the idea being to avoid raising suspicion. While the crooks walk away with the cash, their victim still has negative accounts and a low credit score.
Step 3 Dispute mistakes by mailing the credit bureaus asking that the errors be corrected. If at anytime you expect identity theft, contact the police immediately; doing this will to an extent, absolve your client of responsibility.
Your success with your interaction with the credit bureaus will contribute largely to how well your business prospers. Most people come to a credit repair business because they would rather turn the matter over to someone else, saving themselves time and effort. Because of this, it's essential that your very first priority is always to act in your clients best interest. Make no mistake; this is THE key to the success of your business.
Step 4 Watch for good credit repair software to help you better manage your time. Work smartly, as this will bring in more business and therefore you will earn higher profits. But the software, however useful, must not be the "final word"; no machine is a substitute for human judgment.
Step 5 Market your credit repair business vigorously, on and off the Internet. Advertise, and offer bonuses to raise awareness of your business - such as a free credit report and credit score evaluation, counseling, useful information and so on. Continuously put your clients best interest ahead of everything else. If you will do that, you will find that making money in your credit repair business is not all that difficult.
Start out by helping out family and friends, and do your best to do an exceptional job! Your outstanding service will result in additional leads through word-of-mouth "advertising". To launch your credit repair business with a "bang" offer a limited time discount for your services; and be sure to do your very best job, and you will be rewarded with more referrals.
It's worth repeating that you will enjoy the most profitability if you direct your full efforts at pleasing your clients. The profitability of your business will follow. Lastly, do not let greed get the better of you, or make promises you cannot keep, or ever consider using means that are illegal, because that will lead to disastrous consequences.
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