How to Start a Credit Repair Business

This article is about setting up your own home based credit repair business. You will learn how to set up your business and find clients. You will also learn that credit repair is one of the easiest ways to start a profitable home based business without a great deal of start up capital.

Difficulty: Moderate

Instructions

Things You'll Need:

• Patience
• Money Management Skills
• Sales Skills
• Organizational Skills
• Great Attitude

1. The first step will be to select a business name. Make sure and select a name that is easy to remember, so your clients will never forget it. It is also important to check if any business in your area has the same name.

2. The second step is chosing a business type. You can choose from a sole proprietorship, partnership, and corporation. Each business type has its's own advantages and disadvantages, so it's best to do some research before selecting a business type.

3. The third step is learning about the congressional laws governing credit repair companies. Since the industry is filled with fraud, there are lots of laws you must follow. For example, you cannot charge clients for work that has not been completed. You must learn these laws in detail.

4. The fourth step is to learn how to repair mistakes and remove outdated items on a credit report using the Fair Credit Reporting Act. This group of laws allows you to help a client get his/her credit back in good standing. These laws are very important. I recommend testing your skills on family members or friends with credit issues before finding clients.

5. The next step is finding clients. Believe it or not, most people in the business do not have a problem finding clients because 90 percent of all americans have errors or outdated information on their credit report. You can find clients by advertising, but the best way to find clients is referrals and word of mouth. The best way to get business is to have satisfied clients tell their friends and family about your service.

Tips & Warnings

• Make sure you study city, state, and federal laws before starting your business.
• Always ask satisfied clients for referrals. You will not receive referrals if you do not ask.
• Do not ever engage in any business practices that contradict the laws. This is a heavily regulated industry, and the consequences of getting caught doing something you aren't supposed to do are very harsh.
• Do not overpromise your clients on what you can do for them. Be very upfront and honest.

Resources

• Start a Credit Repair Business

[johnrobinm]

on 12/30/2008 Credit repair business opportunity http://business.credit-report-repair.us