Month: March 2014

San Diego Credit Repair – How to Choose the Best Credit Repair Company in San Diego

So, you used Google or YahooSearch to find a San Diego credit repair company and you’ve found many. How do you choose which ones to even call? Every one of them tells you they’re the best and most effective. Here are some tips that will help you sift through all the marketing hype.

Big National Credit Repair Company vs.
a Local San Diego Credit Repair Service san diego credit repair

This can be a tough choice. It’s seems a good thing to work with a local company. But you have to beware of local companies. Many local San Diego credit repair companies are one person operations that have limited resources in their abilities and have no backup should something happen to that one person such as illness, vacation, closing their business and worse. What happens to your account and money? The national companies typically have poor or no personal customer service. And, what’s your recourse should you not get the results you’re looking for?

Solution– Our company is local and national. We have the personal customer service you should expect. However, if something should happen to us locally you have a national company with 10+ years experience and phenomenal customer support backing us up. You get the best of both worlds. And, you get our Customer Satisfaction Guarantee that will be honored no matter what happens to us locally.

Pricing– This is a big point of emphasis in choosing a San Diego credit repair company or a credit repair company in any other city in the country. There are 2 pricing models predominantly used in this industry.

Monthly Fees– some companies charge a set up fee and then a monthly fee until they have performed the work of deleting items from your credit report. Ask yourself this question. Do you think they are motivated to remove your items as quickly as possible or do you think they are motivated to take their time so they can collect more fees from you? People call us nearly every day and tell us they have been paying fees to a company for over a year, perhaps two years and still don’t have the results they are looking for.

Pay Per Deletion– other companies only charge you once they have removed items from your credit report. Actually, in most cases they do charge an initial fee as well to give you an estimate of the charges once they have pulled your credit reports before you sign up for their service. This may sound good but they typically charge between $25 per item up to $500 per item. The range in fees per item depends on the type of item it is. As an example, an old cable bill might be $25. But a foreclosure or bankruptcy would be $500 per item. Now here’s the kicker and is what you need to be aware of. The charges are per item per credit bureau. So, you actually get charged $75 per item up to $1,500 per item. This pricing method can cost you $2,000, $3,000 and up to $5,000.

Solution– We charge $87/month for the most effective and fastest results in the industry. Unlike other San Diego credit repair companies, we work on all your negative items immediately. It includes all 3 credit bureaus (Experian, Equifax, and Transunion), an unlimited number of derogatory items, includes any type of item such as bankruptcy, foreclosure, short sale, liens, charge offs, medical bills, student loans, late payments and more. We also provide recommendations on what you can do to increase your credit score, online credit monitoring, and identity theft protection for that monthly fee.

How Can You Stay Informed About the Progress of Your Credit Restoration?

Most companies, once you sign up with them, do not communicate with you after that unless you call them. You do not see what they are doing nor see the results on a regular basis. How will you know what’s going on with your account? What are you getting for your money? In fact, they hope you forget you even signed up for the service so they don’t have to keep you informed or worry about your satisfaction.

Solution– When you begin service with our company we analyze your credit reports and upload all your derogatory items to an online, password protected account. You can then log in 24/7 and see your items and then follow the progress of what items have been deleted, upgraded to paid as agreed, and what items remain for us to work on for you. You are not in the dark. You see us working for you every step of the way.

For more information about the very best credit repair service in San Diego visit

ERA Credit Services

Call 619-492-3040
Email us at info@eracreditservices.com

The Reality of Starting a Credit Repair Business

The devastation of the financial and real estate markets over the better part of the last decade has created a huge market of consumers in need of help with their credit report and increasing their credit score. As a result, many have decided to look into starting a credit repair business.

starting a credit repair business

But just like any other business, if you have never attempted starting a credit repair business before there is a lot of information to gather and knowledge necessary to do it the right way. The credit repair industry, like many others, has a high percentage of people that start the business and quit within the first year. Why is that? And how do you avoid being one of those people? This article will cover the points you need to consider.

Laws and Licensing

There are no licenses you need to have to be in the credit repair business. However, you do have a few laws you must consider. And, these laws may be different in each state. The Credit Restoration Organizations Act (CROA), a federal law, states that a for profit company cannot charge fees before performing credit repair work for a consumer. Although many have come up with creative ways to deal with this law it will affect cash flow for a new business owner. However, attorneys, banks, credit unions and 501(c)3 non-profit companies may charge upfront fees. They are exempt from CROA.

In addition, certain states require surety bonds up to $100,000. You can purchase these bonds for far less than the surety amount but you’ll need to check with your state to make sure you have a bond if one is necessary.

Initial Investment of Starting a Credit Repair Business

There are typically two ways to go with starting a credit repair business. The first is to purchase all the necessary components such as software, a web site, legal documents, training, etc. separately. We’ve estimated this cost to be about $10,000 in the first year although these items can be purchased on a monthly basis. The other way to go is to purchase a franchise. The investment in a credit repair franchise is between $19,000 and $25,000. Don’t be discouraged if you do not have $10,000. We will give you a third alternative below that has a start up cost of less than $500.00.

Fees for Service

In addition to deciding how you are going to charge for your credit repair services (if you cannot charge upfront how are you going to charge?) you must also decide how much to charge. Gone are the days when you can charge $1,500 to $5,000 for credit repair services. There are established, reputable companies out there that charge less than $500.00 for a very effective service. You’ll have to compete with that when starting a credit repair business.

Technology

Consumers today expect that a company will have technology in place to allow them to stay in touch and keep track of what’s happening with the progress of their credit repair process. And, there are companies out there that have obliged. You must provide your customers with the ability to check the status of their account online to be competitive in this industry. Doing this as solopreneur may be an expensive and daunting task.

Skill Set

In order to be effective in this business you have to be good at three things, marketing, sales and administration. You have to be a good marketer. Selling your credit repair service to friends and family may get you started but you must position yourself as a credit repair expert in your area. You have to get the word out in the community by developing relations with other business professionals that may have clients that need your service. You must have an online presence as well. Not just a website but the ability to drive traffic to your web site. You need to have leads coming to you every day.

Then you have to be great at sales especially when you’re new because you have no track record or credibility to fall back on. You have to sell against local and national companies that your prospective customer is going to contact as well. Even if your company has the same credentials and advantages as other companies how good are you at selling and closing sales?

Lastly, you have to be good at credit repair. You have to have the ability to pull credit reports (more below) and analyze those reports. You have to know how to advise the client as to the probability of removing all types of items (bankruptcies, short sales, foreclosures, liens, charge offs, medical bills, student loans, repossessions, late payments and more). You then have to know the correct dispute codes and reasons that a credit bureau will open a dispute about these items. Then you have to track this information and be prepared to challenge each item multiple times for a client. This is no easy set of tasks.

Time

You have to have time to do all that is stated above when starting a credit repair business. Many credit repair business owners get caught without enough time to develop new customer pipelines because they are busy doing the credit repair work for their existing customers. Or, they can’t find the time to service the customer because they are trying to develop new customers.

The Solution

Everything stated above comes from experience. It seems daunting, and if done on your own it is. However, we have developed a system for new credit repair business owners that addresses and overcomes everything we have discussed here. It is a system that has taken care of the laws in all 50 states, has an initial investment of less than $500.00, allows you to charge upfront fees, has the latest technology for you to offer customers, provides you with training on the skill set and mind set necessary to be in this business, and allows you the time to market and sell because the administration work is handled for you. In addition, we help you provide the best, fastest, and most effective credit repair service in the industry. And, you can do business in all 50 states. And, you are provided the top training in the industry. But the best component to this solution is that you can develop other credit repair agencies and earn income from those agencies. It is without question the best opportunity for anyone that desires to start a credit repair business.

For more information visit Credit Repair Business Opportunity