A credit repair merchant account plays a crucial role in your credit repair business. According to IBIS World, the credit repair industry averages $3 billion per year. The goal of credit repair services is to breathe new life into otherwise blemished and damaged credit. Some of the typical services offered by these companies include eliminating detrimental “dings’ on credit reports...
It’s a good idea to want to know what a credit firm does to boost your FICO score from poor to desirable. Undesirable credit is detrimental to your financial well-being if you live in the US which explains the emergence of credit repair firms. But with cases of fraudulent credit firms on the rise, consumers should be curious to understand...
U.S. credit card debt hit $764 billion in the first quarter of 2017, according to the statistics released from the Center for Microeconomic Data for the Federal Reserve Bank of New York. Those these numbers are high they are better than the $870 billion in credit debt that Americans hit during the Great Recession. The financial downturn of the previous...
No one can deny the importance of a good credit score. Low credit scores are associated with higher interest rates, credit obtaining challenges, higher insurance rates, larger deposits for apartments and utilities, and other difficulties related to anything that involves payments. That’s the reason why people turn to credit repair companies so often to have their credit “fixed”, or have...
If only the answer to this question was as easy as applying for a merchant account with a preferred provider then it would be useless to read this further. However, very few credit repair business owners who apply for merchant accounts with their local banks or pretty much any other payment processor qualify. The next alternative would be to go...
In March, it was announced that Equifax, Experian and TransUnion, the 3 major credit reporting agencies, would start holding public data to new standards (after July 1). Now, public record data must include consumers’ name and address, as well as their Social Security number or date of birth, to appear on their credit file, according to the Consumer Data Industry...
In today’s market, bad credit is a common thing. That’s why you can find many credit repair companies on the marketplace. The credit repair industry mainly includes small businesses. No single company accounts for over 5.0% of credit repair industry revenue. Domestic (US) total annual revenue for the credit repair industry made up $6.0 billion in 2015. Categorization of the...
At the beginning of October, reports began to surface that Indian police had raided a series of call centers, arrested at least 70 individuals and were questioning hundreds. According to The Associated Press, the chargers were extortion, impersonation and information technology crimes. And the target? Americans. Employees at the call center allegedly sent out thousands of calls and messages every...
Having bad credit is a problem for many business owners, especially in the current economic climate. Merchants with a poor credit history can have difficulty getting approved for business funding. Especially banks and most processors will stay away from a merchant with a bad credit score. Exclusive Merchant Accounts Poor credit is common in today’s market, that’s why you can...
Bad credit does not mean the end of the world. Bad credit is quite common in today’s market. You can find many credit repair companies having entered the marketplace. Credit Repair Merchant Account Services Reputable payment processors like emerchantbroker.com offer specialized merchant account services to high risk merchant accounts for credit repair companies. No matter, you are a new credit...
