FAQs - Frequently Asked Questions

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All the common questions we receive on one page!

A credit repair business can be run ethically and earn big profits. It’s an inexpensive business to launch, and there are millions of people who need your help. Launching any new business and learning new software takes time. Our software is fantastic and super easy. That’s why we’re the leader in this business. Scroll down to find ALL the frequently asked questions!

 

How does Credit Repair work with Credit Repair Cloud Software?

Many companies that use our software use this same workflow. Try it yourself!

Click on the image below to see the chart in full size.

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Click here to download a PDF copy of this chart

 

How do I get help with Credit Repair Cloud?

 

Is credit repair legal?

Yes, credit repair is legal, and it works because of the law. The law is the Fair Credit Reporting Act, set up by the FTC to protect consumers. The FCRA gives you the right to dispute any item on a credit report. If that item cannot be verified, it must be removed. That is the foundation of all credit repair.

 

How does credit repair work?

We’ve created an introductory article that explains it really well!

 

What does it cost to start a credit repair business?

Close to nothing. This is a very affordable startup. All you need is a computer and a phone. To learn more about federal and state laws and other helpful information about your state, we’ve gathered all the publicly available data and compiled them for you here.

 

How much money can I make with a Credit Repair business?

Credit repair can be highly profitable, but it’s hard work. This is not a get-rich-quick scheme. But if you have a head for business and are good with people, this is a fantastic field. Here's an ROI calculator that will give you an idea of how lucrative a recurring revenue business can be.

 

How much should I charge my clients?

The sky’s the limit, but in this business, you might make more by charging less. Learn more here.

 

How do I collect money from my clients?

We recommend signing up for Billsby! Billsby is a Recurring Billing & Subscription Management Software that automates the monthly charges from your client’s card. To learn more about Billsby, please click here

 

How do I get a website? Do I have to use your web hosting?

 

Can I charge upfront fees for Credit Repair?

It’s not our place to tell you how to run your business, but some states will want you to charge after work is done instead of before. 

How do you make money that way? Easy: Do some work, and then get paid for the work you’ve just done! Remember, you will get paid for “Document Processing” and “Credit Education” and not to “raise scores.” 

This is how all successful credit repair companies get paid:

  • They import a credit report, send off a round of letters (about 10 mins of work), and then they charge a “1st work fee.” 

  • Then every month, they send off another round of letters or click to update the status of removed items(about 5 minutes of work), and they charge a monthly fee. 

  • This is why the monthly recurring model works so well for credit repair.

How do you increase credit scores?

By using the law in your favor. Please read this article, it explains this in a few simple steps.

 

I got my first client, now what?

Hooray! We created a great article that will walk you through processing your client into the software and next steps.

 

Who orders the credit reports?

Your client orders their reports.

 

Does my client’s score suffer a hit if he orders his own report?

No, not when they order their own reports. 

 

How do I import a credit report?

Learn how to import credit reports here.

 

Which Providers can I import credit reports from? 

Our software can import credit items from these credit report providers:

  • IdentityIQ (Affiliate program available)

  • SmartCredit (Affiliate program available)

  • MyFreeScoreNow (Affiliate program available)

  • MyScoreIQ (Affiliate program available)

  • PrivacyGuard

Most of these providers charge $1 for a trial with instant access to all three reports and scores. We recommend that you have your clients maintain their credit monitoring service for as long as necessary, as this will help you through the credit dispute process.

 

What if my client gives me a report from another provider not listed?

In this case, you are going to have to import the dispute items manually. To read more on this subject, please click here.

 

Which dispute letter do I choose?

Always start in the Dispute Wizard and always begin with a Round 1 letter sent directly to credit bureaus. The content in this letter is always the same, so you don’t need to worry about that. Just use the Default Round 1 Letter in the Wizard for a quick process that will get your client’s credit repair started (along with your revenue stream). Click here for more details.

 

How many items can I dispute at one time?

Send as few as possible and never more than 5 per month per bureau. This will keep your letters from being flagged as frivolous.

 

Do I have to include a Photo ID and Utility Bill with my dispute letters?

You only need to send them with a Credit Bureau Round 1 dispute. You do need to send a copy of a government-issued photo ID. If your client does not have a Utility bill, an insurance bill will also work or even a phone bill. They must see some official proof of address, or they will often reject the dispute letter.

 

Who signs and sends the dispute letters?

Most companies sign and send letters on behalf of the client. The client is paying you for document processing, so this is all part of the service you provide. 

 

Should I put legalese into my dispute letters?

Absolutely not. Credit Repair Letters are sent “as if” they are from the client, so this will be a red flag unless the client is an attorney. The best dispute letters are simple and short and state facts as concisely as possible.

 

Should I send all letters certified mail or regular?

This is up to you. Sometimes you might want to send regular mail (like for a round 1 letter), and other times, you might want to pay extra for certified mail for tracking if the bureau/creditor is stalling or if it’s an important letter.

 

Why send everything by snail mail? Can’t I do this online?

Snail mail is how credit repair works best. This is the same method used by the largest credit repair businesses in America who make hundreds of millions of dollars. To learn more about this, click here.

 

How do I stop “Credit Repair Cloud” and your URL from printing on my letters?

Credit Repair Cloud does not cause the issue of our URL and name showing on the footer header your dispute letters. The settings in your web browser cause this. The fix for this is straightforward and fast. Learn how to fix it by clicking here.

 

What happens after round 1?

To learn more about the next steps after round 1, click here.

 

How do I update Credit Repair Changes? Should I import it again?

Yes, you can! Optionally, you can also manually update the status of the dispute items if you don't want to do a re-import. You can learn more here.

 

My clients are undermining my work by applying for credit and keeping high balances. What do I do?

Give them awesome service and educate them. Read more about educating your clients by clicking here.

 

How do I do email marketing?

Unfortunately, we’re not an email marketing platform, nor we have the tools for it. Email marketing is something you can do on your own, outside of Credit Repair Cloud. 

Feel free to check the related articles linked below:

 

What are the laws and legalities of starting a  credit repair business?

Each state is a little different. Check with your state and consult an attorney. To learn more about federal and state laws, as well as other useful information about your state, we’ve gathered all the information that is publicly available and compiled them for you here.

 

Do I need a license for Credit Repair?

We’ve never heard of a license specifically for credit repair. We do have a “business license” with our city, which costs us about $99/year. Our neighbor, who owns a flower shop, also has one.

 

Do I need a bond?

A few states require them, but you only pay a fraction of the cost if one is needed. Click here to see if your state requires a bond. Bonds Express can answer any questions you may have about bonds.

 

What should I know about Compliance?

There are a few tips we would like to share with you about this side of the business:

  • Do work first and then collect payments

    In some states, you’re not allowed to collect money upfront for credit repair.

  • Don’t make deceptive claims

    This is one of the biggest mistakes a new credit repair business owner will make. Never make false claims or guarantees. Credit repair cannot work that way. Be honest. You cannot promise a score increase in 30 days or the removal of everything negative. But you can explain how the credit repair process works. Give some education to the client on how they can speed up the process by not applying for new and paying bills down. You can also give some examples of stats on your other clients, for example: “Our average client sees 5-10 items removed in the first three months, but all clients are different.” If the goal is to grow and scale your business, take it slow and always be honest and transparent.

  • Ask your clients which items to dispute

    This is another very common mistake made by new credit repair companies. You cannot dispute everything. Consult with the client and only dispute what the client tells you to dispute.

    Here are two methods for this:
    • Simple method: Go over the report with the client. The client should tell you which items are accurate and which items are not.

    • More complex method: Use our “client’s choice” module. Once that is enabled, the client must make the choices after importing the report.
  • Make sure you have a contract in place before you start adding clients.

    It should include:
    • Your company name and address

    • Your payment terms for services

    • A clear description of the services you will provide

    • Any guarantees or refund policies (if offered)

    • Authorization for Credit Repair Action (this is like a limited power of attorney)

    • The expected time it will take to achieve results (estimates are fine)

    • A copy of the FTC’s “Consumer Credit File Rights”

    • A cancellation notice giving clients three business days after signing to legally cancel

 

If we missed your question in this FAQs document, please feel free to reach out to our awesome Support team via email at support@creditrepaircloud.com.

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