Starting a Credit Repair Business

[Anonymous]

What do you guys think and/or suggest?

[Anonymous]

Well, being a business owner and an advocate for women in business, I never tell someone they should not try something.  But here are some questions I have for you.

Are you going to do it locally or online?  

Are you only doing credit repair, or will you offer debt management too?

If I was a customer looking for credit repair, what would make me choose you over the tons of other guys?

Like I said, I am never one to tell someone "don't do it" when it comes to business because the problem in today's society is that no one is willing to just try.  But I am curious about your reasons.  Is it because you have been successful with your own cleanup, or because you think its an easy buck, or you think it would be a simple thing to do for people that they don't want to do.

Also, what would you charge?  Many people come into credit repair with no money available, and will not be happy about the fact that in most cases they will have to pay off the debts as well as pay you money.

[Anonymous]

I have had success with not only my report, but other friends and family's reports. I do not want to charge any upfront fees. I really want to help others out, especially right now. There are a lot of people that do not know their rights when dealing with creditors. I just get discouraged to actually move forward because there are so many companies out there with bad reps. I have told every single person I have helped (before I begin the process) that this is not at all guaranteed and that no company can guarantee and/or charge you ahead of time. I was thinking non profit.

[Anonymous]

Non profit is good, but non profits still charge.  And it takes a TON of work.  As a business owner I would strongly suggest you do not do a ton of upfront work before being paid.  Think about it for a minute...

90% of the people you are delaing with don't pay their bills.  Its why they have bad credit.

If you do all the work, and then they don't pay you it would not be a shocker.  Yes, there are a ton of bad guys out there.  It would be better if you could be the knight in shining armor.  You just have to figure out how to do it.  and you will be spending a ton of time getting things done.  You have to be willing to charge for your time because it is valuable.  and you have to get that money up front so that you can continue to provide that time to people.

If that is too difficult then I would jsut remain a good friend and continue to point people here and help them with their journey.  If you can see past the hardships and be willing to charge, but be honest about the guarantees then I think you would have a good business.  Just have to be honest with the customer and yourself.

[Anonymous]

Excellent advice! Thanks.

[Anonymous]

My pleasure, and if you do it, good luck to you!!!  Just keep in mind how valuable your time is.  Even though it does not cost you anything up front to spend time on something, it really is a high cost that you should never put aside. 

Good luck, and I hope you end up being one of the few good guys doing this.

[Anonymous]

Time is the one commodity which is non-renewable and has no alternatives.

[NikJ4]

Be careful about posting this type of info on this site. It could be seen as you trying to solicit and you would get banned..

Just a friendly word of advice.