I have been involved in the credit repair business since 2012. In that time, I have seen steady changes not only in the credit repair industry but in the overall business climate in this country. These changes make it harder for the individual that wants to start a credit repair services business on their own. However, for those that comprehend these changes and are willing to adapt, there is still an excellent opportunity in this industry. The #1 reason is that the market for people that need help with their credit score is massive and may continue to grow.

Federal and State Laws

Back in 2012 many credit repair companies were still charging large, upfront fees of $3,000 or more to consumers for credit repair. You don’t find that in the industry anymore or shouldn’t anyway. State and federal government laws now make it illegal to charge more than a nominal account set up fee before services are rendered. Only banks, credit unions, attorneys, and 501 (c) non-profit organizations may charge more.

This is great for the consumer, but it puts limitations on the new credit repair business owner in terms of cash flow. Typically, they will have invested a substantial amount in getting their business started but will not be able to recuperate those funds for some time.

Another issue for a credit repair company is that of being required to procure a surety bond. Not all states require one, but most do. Surety bonds are purchased on a state-by-state basis. That means that if you have a surety bond you can do business only in the state for which the bond is purchased. But then you must follow the requirements of other states to do business there.

The Large Companies Dictate Pricing

Largely due to the laws regarding upfront fees mentioned above, the largest of companies in the credit repair industry charge that nominal fee (usually around $100) to get the account set up for a consumer. They then charge a low monthly fee. Nerd Wallet estimates the average monthly fee in the credit repair industry to be $99/month. The fact that the biggest companies in the industry charge these amounts just about dictates that every company charges a similar amount.


INC.com published an article, “4 Reasons It’s Getting Harder to Start a Business”. The #1 reason they give is technology evolution. Up until the last few years, technology has given small business owners the ability to compete with larger companies. But technology has taken giant leaps forward recently. Technology that is now available to consumers from larger companies is far more complex and may not be in the grasp of a small business owner. And, consumers expect technology from a company they’re doing business with.

For instance, our credit repair clients receive an online portal so that they can check on the progress of the services 24/7. We also give them a phone app so they can check on their account via their phone. This type of technology is challenging for a small credit repair company or solopreneur credit repair business owner to provide.

Consumers Will Demand More Than Credit Repair

In this area, we are the leader in the industry. But it won’t be long before other companies catch on. Offering the removal of derogatory items from credit reports is not enough anymore. According to IBIS World, an industry research firm, there are more than 44,200 credit repair services companies in the United States. And every single one of them offers credit repair.

Companies, large and small, that want to compete in this market must provide their clients with more. The reason is that there are many more ways to increase a consumer’s credit score than by just removing derogatory accounts. We offer every client 14 services including credit repair that can all be accessed 24/7 in their online customer portal or phone app.

It's Getting Tougher for Solopreneurs

First of all, what is a solopreneur? A solopreneur is an individual who sets up and runs a business on their own. In an article by DigitalConnectMag.com, they list the “Common Business Problems for Solopreneurs”. One of the problems they list is that you can’t do it all. “You need to produce work to sell to customers, but you need marketing to sell the product. That means you will be in production to serve those customers and then marketing to find new clients in different phases. It’s not an efficient use of your time.”

I’ve been writing and producing YouTube videos about this for years for those that are interested in how to start a credit repair business. It simply isn’t feasible to build a business on your own and compete in an industry dominated by large companies. These companies have far too many resources at their disposal.

An Individual Can Still Start a Credit Repair Services Business

People that want to start a credit repair business only need to adjust their thinking about what a business looks like. Business is evolving. The pandemic has moved that evolution forward rapidly. If someone is open-minded and will look at different options, we have a great option for you.

For an individual that wants to start a credit repair business but does not desire to invest a lot of money, and wishes to compete with the biggest companies out there, there is just one solution. It’s the same solution I found back in 2012 that has evolved into one of the fastest-growing and most technologically advanced credit repair companies in the industry. And you can be a part of it as an Independent Agency owner like my wife and I are.

Watch This Video

This video was produced with the sole purpose to share the details of our business opportunity. You can start a credit repair services business with a very small investment, offer the most services in the industry, and have technology at your and your client's fingertips. In addition, you'll be able to do business in all 50 states without a surety bond and scale your business as large as you'd like. Seriously.

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This article which was originally posted in 2021 is updated regularly and was last updated in July 2023.