Tax season is also the season when many check their credit scores. While there are many legitimate websites and services, some are not, and those can damage the entire industry. Credit repair agencies are who people turn to when they need to get their spending in check, pay down debt, and otherwise strengthen their credit score. You do not have to be an economics whiz to operate a credit repair agency, but you must be on top of your game.
Credit repair scam and credit score rip offs run rampant these days, and sadly, many fall for them. From repair agencies who promise to fix credit overnight, to credit report scams that charge you an outrageous amount for something that you can request online for free elsewhere, people are losing faith in the industry. The best place to go for a truly free credit score is Credit Karma. Many credit repair agencies also recommend this, as it emails you when your score has changed, or better or worse. Perhaps best of all, it is free! No credit card needed. A good credit repair agency should train their clients to monitor their credit score, and watch for errors, so Credit Karma is a good tool.
You also need to make sure that your BBB score is an A or A+. While a B score is not going to devastate you, it could harm your business slightly. Any harm is not good, and since word travels online, any bad press is certainly not good. You need to make sure that you are doing everything in your ability to help your customers, and charge them fair rates. One of the biggest issue concerning credit repair agencies in the overcharging of fees.
Be sure to work with your credit repair merchant account provider to keep abreast of any issues going on in the industry. A reputable credit repair merchant account provider can help you navigate the industry, while steering you clear of scams and shady networking. To learn more about getting into the industry, as well as how to obtain a credit repair merchant account, contact EMB today.