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When you factor in the monthly fee over time, the potential credit repair cost might seem high. But the next time you apply for a loan or credit card, a clean credit report and the improved credit score that goes with it can save you thousands of dollars in interest. It can also make the difference to being approved for a lease or job application. It’s important to remember that even the best credit repair company can’t fix a legitimately bad credit rating. If you have a bankruptcy or a history of late payments on your credit reports, they won’t be able to remove those. Credit repair companies can only ensure your credit reports are accurate and fair.
You may wind up losing time and money, and it may even have legal consequences. Sky Blue Credit has been in the credit repair business since 1989. The Boca Raton, Florida-based company disputes 15 items—or five items per credit bureau—every 35 days, according to the company’s website.
No matter if you’re in-person or working at home on the phone, this is an important part of starting a credit repair business . It should be professional, predictable, and (hopefully!) effective. Be sure that you understand each of the steps in your process and why you are doing them. Generally there are about 8 basic steps to start a client off with in the credit repair industry. In general terms, a new business may need to apply for a license permit to open a business within their city limits.
To help make you a better applicant, credit repair companies often promise to improve your credit — in return for a fee. Other than that, with these eight credit repair companies in mind, you should be able to achieve a stronger credit score. Any company you work with is legally required to be honest and forthcoming in their abilities to improve your credit. They start with an analysis to identify the items on your credit report that should be disputed. Then, their services focus on raising your score through not just credit repair but also score assistance.
As a credit repair professional, you can advise your client to file a police report and submit this report to the credit bureaus. Corporate and affiliate partners are some of the most important relationships you will need for your credit repair company to grow. Corporate partners are local businesses like law firms, CPAs, and designers that you will work with on an ongoing basis for your business needs. It is crucial to build great relationships with these types of professionals for any advice or help you will need as your business grows. Ask around in your network to see if anyone has referrals so you can start the relationship with a strong personal introduction.