Things You'll Need:
- Office space
- Website
- Business cards
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Step 1
Choose a business name that is discreet so that your clients can visit your business in privacy. "Bad Credit Counseling Inc." would not be a good name, but "Consumer Financial Counseling Inc." would be.
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Step 2
Get a thorough understanding of the Fair Credit Reporting Act, as you will be helping all of your clients learn how it applies to their financial situations. Also know about The Wage Earner's Plan, which is part of Chapter 13 and the Federal Bankruptcy Act.
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Step 3
Lease a business office in an easy-to-access part of town. You can rent an office for as little as $300 per month with utilities included in many areas of the country. Alternatively, you can set up a home office if you have the appropriate space to service clients.
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Step 4
Get business cards and a website to market your credit counseling service. You can also start a blog as a way to promote your business's website.
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Step 5
Set a reasonable fee for your services, such as $125 per year, with monthly installment plans. Remember that your clients are not in a position to spend tons of money.
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Step 6
Learn about each client's financial situation by talking with them. Help your clients make budgets and let them know the importance of maintaining an accurate credit report.
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Step 7
Join a consumer credit counselors association, such as the National Foundation for Credit Counseling, to network, keep up with industry news and gain potential clients.
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Step 8
Write articles about the benefits of credit counseling, and post informational videos to your website and to sites like YouTube to promote your credit counseling business.
