Many people in today’s economy decide to start their own businesses. Possibly they just need a 2nd income. Or, maybe they want to leave their job and work for themselves. After doing some research it makes sense for many to start a credit repair business in North Carolina.

I have owned a business that markets credit repair and related services since 2012. Here I give you the Pros and the Cons of starting a North Carolina credit repair business. Then I offer you a solution that will offset all of the Cons and is the very best credit repair business solution in the country.

The Pros of Starting a Credit Repair Business in North Carolina

  • As of 2018, North Carolina has become the 9th most populous state in the U.S. with over 10 million residents
  • North Carolina residents have an average credit score of 686. That’s nearly 10 points less than the national average of 695
  • 44% of the population of North Carolina has a credit score under 700
  • 79% of credit reports in North Carolina contain errors
  • Many professionals in credit-related industries turn down unqualified prospects daily. These include professionals in real estate, mortgage, banking, the automobile, and solar business
  • Most business can be done over the phone. This allows credit repair business owners to work from a home office
  • There is no licensing or certification required to start a credit repair business in North Carolina
  • Regardless of where you’re located, you can solicit business from any of the major metropolitan markets in North Carolina. These major markets include Charlotte, Raleigh-Durham, Greensboro, Winston-Salem, and Fayetteville

The Cons of Starting a Credit Repair Business in North Carolina

This list includes the cons of starting a credit repair business anywhere in the United States

  • The cost of starting a credit repair business can be high
    • A requirement to start a credit repair business in North Carolina is to obtain a surety bond. The bond must be in the amount of $10,000. The cost of the bond will be dependent on your credit score and other factors. The lowest cost for a surety bond that I could find was $200 annually with excellent credit.
    • To be in business today you must have a website. You can hire someone to build it for you or build it yourself. Costs will vary. Even if you have the skill to build it yourself using Wix, WordPress, or another service, there are other costs. You must pay for hosting, an SSL certificate, a related email address, and more
    • You will need to purchase the software. The cost of credit repair software ranges from $30/month to $400/month.
    • Marketing materials are a must to be in the credit repair business. You could start off with just business cards and flyers. But in order to compete with other companies, you will want to have tri-fold brochures and even marketing videos. This can get very costly
    • Providing your clients' online access to their credit repair information and updates on the progress may be cost-prohibitive when you’re starting out. But just know that other companies provide this and it’s something you’ll have to convince your prospects that they don’t need

Even if you have the capital to start a credit repair business in North Carolina
have you considered the following:

  • Working alone in your credit repair business will limit the amount of business you can do. Many underestimate the time to work on a client’s credit repair. They also don’t consider the amount of time for marketing to new prospects and selling to those prospects
  • Initially, you may not have other services available to increase a client’s credit score. Removing negative items from a credit report only accounts for 35% of a credit score. Can you provide other services to impact the other 65%?
  • When you start your business you have no reputation, credibility or trust built up in the market. Many times consumers look for a Better Business Bureau rating or reviews to help them make a decision. You will want to create listings on Yelp, Google, and other services. You will also need to have social media pages/accounts on Facebook and other platforms. If no one can look you up on the internet they will not trust your business
  • There is a lot of competition in North Carolina in this industry. All the large players are in the state and can offer more services and more technology
  • You will have to have competitive pricing. And, if you are not an attorney, bank, or non-profit organization you cannot charge fees for services until they are performed. You can charge a nominal start-up fee

The Best Solution for Starting a Credit Repair Business in North Carolina

Start a credit repair agency in North Carolina through ERA Credit Services. Here’s what you’ll have immediately:

  • A customizable website with your information
  • The ability to brand your own company name if you choose
  • An online business portal to monitor all business activity including customer progress
  • A staff to perform all credit repair administrative work including analyzing credit reports and drafting dispute letters
  • No credit repair business software is necessary
  • Customers receive the fastest, most effective credit repair service in the country and other services to help increase 100% of their credit score
  • Your customers will have their own online portal to monitor the progress of their credit repair and other services
  • Professional marketing materials including brochures, flyers, folders, business cards, and videos
  • A flexible online credit repair business training platform so you can learn this business on your schedule with our credit repair classes
  • Weekly live credit repair training sessions from Dale Guiducci through our private Facebook group
  • You can do business in all 50 states immediately with no surety bond required
  • Get started for less than $300!

Starting a Credit Repair Business in North Carolina
with ERA Credit Services gives you all the Pros and none of the Cons

Want to learn more about
how to start a credit repair business in North Carolina?

Watch this business overview video and then Book a Phone Appointment to speak with one of our Financial Directors

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This article which was originally posted in 2019 is updated regularly and was last updated in July 2023.