Credit Repair Business Training: Where to Start and What You Need

Imagine you are drifting through the forests of Brazil on a zipline - gnarled branches and lush verdant leaves the size of your head whooshing past your harnessed, helmeted body. It’s beautiful, it’s exhilarating, it’s terrifying: but you feel safe. You feel safe because someone harnessed you, hooked you on to that line, and appeared to be experienced, credible, and have your best interests at heart.

Your outdoor adventure guide convinced you that you were safe (with knowledge and safety training to back it up) so you clipped on and took the leap off the platform.

This is how your clients feel when they entrust their credit repair to you.

Most people have no idea how credit works and many more are terrified to even approach this unfathomable task of repairing their credit. Unlike the zipline in Brazil, they don’t have a choice to not to make the leap: credit is ubiquitous in today’s digital economy and a bad score negatively affects everything from car loans to housing to funding an education. As your clients’ credit guide, your role is to provide valuable, credible, well-researched and time-tested methods to repair their credit.

Credit Repair: an Art and a Science

What's awesome about credit repair as a business is that you don't need a college degree to make a great living: you just need to learn how the system works and how to use the law in your favor to help your clients. The best part is you can learn as you practice with your own credit, followed by family and friends. It's actually quite easy. It just takes time and patience and a willingness to learn. With proper credit repair training your business will flourish.

It is a business, and it is personal

The reason that money is one of the taboo topics at dinner parties: finances feel extremely personal. Most people don’t want to think about their credit score, let alone talk about it, because they do not understand how to improve it. Not only does fixing their credit score appear an insurmountable task, it is simultaneously broadcast to the entire finance world.

This is why the first step to building a credit repair business is getting the credit repair training you need to become a trusted resource for your clients.

If you are naturally great at problem-solving and willing to be a bulldog for your clients, then you can be successful. Improving your knowledge through credit repair training will serve to fortify your confidence and give your clients the boost they need to know they can improve their credit!

Initiate and consistently bolster your own credit repair training

If you haven’t already done so, please get yourself a free copy of Credit Repair Secrets here. You will learn important skills like:

• How to read a credit report
• The steps to boosting a FICO score
• Your clients’ rights under the Fair Credit Reporting Act

Once you understand the basics, you can teach clients these tried and true methods to owning their credit score.

How to Get Started and Keep Growing

As Lao Tzu famously said “The journey of a thousands miles begins with a single step.” Begin your credit repair business journey today with credit repair training that will increase your confidence, competence and revenue.

Start your business

Before you reach out to clients, you need to make sure you understand the who, what, why and how of credit repair.

1) How a Credit Repair Business Works: This credit repair business checklist will give you insights on preparing a business plan, planning for expenses, and setting up a branding strategy

2) How to Read a credit report: Over 79 percent of all credit reports contain errors that lower the credit score - learn from the experts how to spot them and interpret the other important points of the report 

• FICO scores range from 300 to 850, with the goal being at least above 720
• Removing a false item can increase the credit score immensely

3) What to dispute on the credit report: Know how to write a dispute letter that has teeth, and when to pursue a lawsuit on behalf of your clients

• Before writing a dispute letter you must comb through the credit report to find inaccuracies, redundancies, or unverifiable information that can be disputed (Credit Repair Cloud's Simple Audit tool does this automatically in seconds)
• The largest and most successful credit repair companies only dispute 2-3 items per month
• A Round 1 letter goes to the credit bureaus and we recommend it contain five or fewer items
• A Round 2 letter goes to a specific bureau or creditor regarding one item

Knowing these starting points will help you to begin your client relationship with credibility and a specific value offer.

Keep your business going

A credit repair business can be sustainable and profitable by following the tried and true principles of the industry:

• Be ready to get paid: Learn crucial payment processing mistakes to avoidsome text
  • Offer recurring billing with a credit card on file with a program like Chargebee
  • Have a money-back guarantee so clients rest assured that you are here to help them
• Make money: Figure out a realistic estimate of your revenue with the Projected Revenue Calculator
• Know about Date of Last Activity (DLA) and its effect on the client’s score: the DLA is when the consumer makes a payment, misses a payment, or the balance of the account increases

• How to quickly build the credit score: Learn little known tricks like lowering credit card balances, making rent payments on time, and getting a secured credit card

• Interacting with credit agencies and bureaus:  While it is not always a battle, it is important to know how to strike out against debt collectors and win

Get ready for blastoff

Take your business to new heights with an excellent sales model that knocks your clients’ socks off.

• Client intake and consultation: Educate the client about the credit repair process and get started on round 1 letters to creditors
• Continuing education for clients: Teach clients to build better credit habits like not applying for new credit cards and keeping credit usage under 25 percent of the maximum
• Sales funnel for credit repair: Understand and follow the simple sales funnel to know how to turn your prospects into clients.

Growing your business is the result of understanding the sales process, providing value to clients, and consistently delivering on your promises.

Start Now

How would you like us to hold you by the hand as you launch your very own credit repair business?

Join our 14-Day Credit Hero Challenge today.