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How Important is Your Credit Score in Retirement?

How Important is Your Credit Score in Retirement?

March 7, 2020
, , , Dale Guiducci 0

This article is reposted with permission from LifeStyleOver50.com

You may be years away from retirement but if you’re 50 or over, now is a good time to think about your credit score. In this article, we’ll talk about why you need a high credit score as you get older and in retirement. And, we’ll discuss ways you can improve that score now. How important is your credit score? At any age, it’s very important. In retirement, it’s even more so.

Why Is Credit Score Important When We Get Older?

As we get older, typically we finance less. And, we certainly finance less high ticket items. Therefore, we use our credit less which can affect our credit score negatively. As well, especially when we retire, our income isn’t typically as high as when we were working. Therefore, it becomes a bit harder to get credit and the lowest rates when we do finance items because our debt to income ratio isn’t as strong. So, as we age, we want to focus on getting our credit score as high as we can and keeping it there.

How Will a Change in the Economy Affect My Credit?

A lot of people are talking about a downturn in the economy after the 2020 election or even sooner. When we have a recession or even a slow down in our economy credit tightens. It’s harder to get credit because it requires a higher credit score to get decent interest rates. As well, if the value of goods such as real estate decreases, we want to be in a great position to take advantage of lower prices. But in order to do so, we need good credit.

LifeStyleOver50.com

What Should My Credit Score Be as I Get Closer to Retirement?

Before we get into specific numbers that constitute a good credit score, it’s important to understand a few basics about how credit scores are calculated. First, there is a good credit score (670-739), a very good credit score (740-799), and an exceptional credit score (800-850). People have very good and exceptional credit scores when they are very active with their credit and of course, pay everything on time. Very active means that they use credit regularly and have a good mix of credit account types such as a mortgage, credit cards, and a car loan.

As we age, we may pay off a mortgage, decide to rent, use credit cards less and not have a car payment. This will lower your credit score but it’s nothing to panic about as long as your credit score stays in at least the good range. DO NOT incur debt just to raise your credit score. However, do use your credit cards for purchases and pay them off every month. That shows credit activity.

If your credit score is in the good range now, try to get it as high as you can and keep it there. If your credit score is lower than good, below 670, you’ll want to focus on getting it at least above 700 as soon as possible.

How Can I Increase My Credit Score?

The calculation of your credit score is a very complex equation. But generally speaking, a credit score is based on how much good current and past credit you have versus negative or derogatory items you have showing on your credit report.

If you don’t have a good credit history and positive accounts now, your credit score will suffer.

If you have positive current accounts but older derogatory items, your credit score will be lower.

If you have a good past history but no current positive credit accounts, your score will be lower.

So, as much as possible, you want to eliminate negative, derogatory accounts and increase current positive accounts without going into debt to do so.

Eliminate Negative Accounts    

Did you know that the U.S. is the only country on the planet that provides you a way to potentially remove derogatory accounts from your credit profile? The common assumption is that you must live with negative accounts on your credit report for 7 years from the date of the last activity on the account. More accurately creditors can only list a negative item on your account for as long as 7 years. That means you can potentially get negative items removed from your credit reports. There’s no guarantee, but it’s generally worth trying because of the positive impact it can have on your score.

Since 2012 we have represented one of the leading credit restoration companies in the country. We’ve personally helped over 1,000 people increase their credit score by removing inaccurate, obsolete, erroneous and unverified items from their credit report. 

Call us from the East Coast at 727-222-0120
Call us from the West Coast at 619-492-3040

Increase Positive Accounts to Boost Your Credit Score in Retirement

If you don’t use credit cards start using them. If you don’t want to carry balances that’s good. Just pay them off each month. Use them just for gas and groceries. That’s the money you need to spend anyway. But don’t open more than 3 credit card accounts. Very few people need more than 3 credit cards. Having too much credit available can negatively impact your credit as well.

If you currently rent a home or apartment get your rental payments put on your Transunion credit report. We can help you with that for as little as $6.95 per month.

If you need more positive accounts, instead of buying items such as computers, flat screens, etc. on your credit card, open an account with an online retailer like Finger Hut. They have a wide selection of name brand items on their website and they report to all 3 credit reporting agencies monthly. If you don’t want to carry a balance, then just pay it off in 30 to 60 days. It still will report as a positive item.

Learn about other ways to Boost Your Credit Score Fast

Good Credit Practices

Pay your bills on time. A late payment such as a car payment can cost you 60 points in your credit score overnight. If this happens know that your score will eventually climb back higher as you make future on-time payments.

Avoid high balances especially on your credit card accounts. Keep your debt utilization under 30%. That means if you have a credit limit of $5,000 on a credit card as an example, keep your balance under $1,500. If you go higher than 30% it will start to negatively impact your credit score.

DO NOT close old credit card accounts. There is a strong temptation to close old credit card accounts that we don’t use. But if you do that your credit score will suffer. It doesn’t seem logical but that’s the way credit scores are calculated. So, resist the temptation even if you need to pay an annual fee or if it is currently being reported negatively. Closing the account will not remove it from your report.

Have a good online credit monitoring service. To get a truly accurate credit monitoring service you’ll likely have to pay for it. Free services like Credit Kharma, are not necessarily reporting currently nor do they show all 3 of your credit reports. Similarly, if you use a service from one of the 3 credit reporting agencies like Experian, it may not show the other 2 agencies (Equifax and Transunion). Please note that not all creditors report to all 3 agencies. That’s why it’s important to be able to monitor all 3.

Have identity theft monitoring and protection. It’s very important to get notified if someone is trying to access your accounts to purchase something. That is the only way you’ll know if your credit information has been compromised or stolen before you get your statement online or in the mail.

Start a Credit Repair Business for 2020 and Beyond

September 27, 2019
, , , , , Dale Guiducci 0

2019 has been a year of change if nothing else. Stricter government regulations on the credit repair industry have kept our company busy making sure it and our Independent Agents are compliant in every way. In addition, we have been continually enhancing our product offering to our clients to include non-credit related products and services to help people save money. So, it was time, perhaps a bit earlier than I anticipated, to release a brand-new credit repair business overview video entitled, Start a Credit Repair Business for 2020 and Beyond.

Major Change in the Industry

Since 2012 when I first started my own credit repair business, I see a major change. It is far more difficult to start a credit repair business on your own now than ever before. It’s not just the government regulations. Although that is an issue. Even if, as a credit repair business owner, you learn the laws and try to abide by them, you may still get contacted by your state and be asked to make changes to your marketing or other practices.

But it’s also the competition. As in other industries, the larger players dominate advertising on and offline. They can afford to charge lower fees and beat the smaller companies that way as well. So, even if you figure out how to get your business up and running, you need to compete with much larger companies for the clients.

Work with Us and Stay Ahead of the Competition

That is why working with us is a great way to go. Collectively we are a major player. Our attorneys stay on top of all state regulations. And, we have done something no other company has done in this industry. We have other services that we give our clients at no extra charge. And, we charge less than any of the major players out there. Therefore, by working with us you stay ahead of the competition.

Start a Credit Repair Business for 2020 and Beyond, my new video, is going to share all the details. It’s 30 minutes long. So, get in a place where you won’t get distracted and take good notes. I love videos because they share 100% of the correct information 100% of the time. And they never forget to tell you something. But once you watch the video, you’ll then be able to book a phone appointment with me. We can get into any questions you may have. And, I’ll share with you my 7 plus years of experience in the industry. You can then make an informed decision if this is the right fit for you. I look forward to talking with you.



Start a Credit Repair Business for 2020 and Beyond
<img class="blog_post_image" src="https://eracreditservices.com/wp-content/uploads/2019/09/How-to-Sell-Credit-Repair-to-Customer-Prospects-625x415.png" alt="How to Sell Credit Repair
to Customer Prospects" />

How to Sell Credit Repair
to Customer Prospects

September 18, 2019
, , , , , , Dale Guiducci 0

Let’s assume you’ve started your credit repair business. You’ve put some of my credit repair marketing tips into practice. Or, some of your own. And now you have customer prospects. What are you going to tell them about your credit repair service that sets you apart from the competition? What’s going to get them to agree to becoming your customer and pay you to provide credit repair? The bottom line is, have you learned how to sell credit repair to customer prospects?

We use a very specific process when having a conversation with credit repair client prospects. This process is responsible for literally tens of thousands of sales of our credit repair services since 2012. We, of course, have revised the process as needed. But it still follows the same basic principles. It is one of the first tools we give a new credit repair Agent so they can learn how to sell credit repair to their customer prospects.

Ask Questions to Gather Information About Your Credit Repair Prospect

Too often salespeople in any business want to jump into telling and selling far too quickly. They’re so focused on closing the sale they forget the most important factor in selling. And, that’s to ask questions. By asking questions you do 2 very important things. You gather information that is useful in the subsequent conversation. And, you build trust and credibility. The more questions you ask, the more you seem like you know what you’re doing. You put people at ease. And, you don’t seem like an aggressive salesperson.

  • How did you hear about us?
  • What’s happening with your credit report (or credit score) that’s creating some challenges for you?
  • What type of derogatory items do you have on your credit report? (Note- we do NOT pull credit for a prospect yet. We do not do this until they start the service. We have found that people know if they have negative items on their credit report, what type of items they are, and roughly how old those items are. That’s all we need to know at this point.)
  • What type of accounts are they?
  • Are these open or closed accounts?
  • How old are these items?
  • Do you know your current credit score?
  • Do you own a home now or are you a renter?
  • What type of positive accounts do you have on your credit report?
  • What’s the primary reason you want to increase your credit score at this point?

Depending on their answers your conversation will go down different paths. But this is the basic information you want to know before you launch into telling and selling.

Educate Your Prospect on Credit Repair Law

This does not mean you start citing chapters from the Fair Credit Reporting Act. It does mean that as you explain what you do, the process you are going to go through to help them. As an example, explain that you’ll be looking at their credit reports and analyzing those reports to determine their derogatory items. You, or someone in your company, will draft dispute letters. The letters will go to the credit bureaus. The credit bureaus will contact the creditors. The creditors have 30 days to reply. If they reply, your item will not be removed, and you’ll have to take the next step. If they don’t reply, the item will be removed.

Whatever you feel your process is, explain it! This is key in learning how to sell credit repair. This provides comfort to the prospect. It also, again, builds trust and credibility. How are they going to be involved in this process? Explain it. Notice as you are explaining this process, you are selling your service.

Stop and Ask a Key Question

What’s the key question? “Do you have any questions about what I just explained to you?” You want them to ask questions at this point. What questions could they ask?

  • How long does it take? (I’ve learned to weave the time frame into my explanation of the service as covered above. This alleviates this question.)
  • Can you get a certain type of item off my credit report?
  • How much does it cost? (Hopefully you’ve not shared this with them yet. Why? Because you do not share prices until you’ve built value for what you do. In fact, you may not be done building value. See the next step.)

If they have no questions, that’s ok. You either proceed (see below). Or, you tell them how much your service costs.

What Else Do You Do Other Than Credit Repair?

This can be a huge factor in your success. If you’re going to have to compete with other companies in your area or on the internet, you have to offer more than removal of derogatory items. If you’re going to rely on word of mouth only, and your prospects aren’t going to call anyone else, maybe not.

We offer an array of credit-related and financial services as part of the credit repair service we offer. So, when we are teaching new Agents how to sell credit repair to customer prospects, this is a key component.

Close the Sale

Once you’re done with explaining other services you offer, or if you do not offer anything else as part of your service, it’s time to close the sale. We ask a very simple and non-threatening questions. “Does this sound like something you’re ready to get started with today?”

At this point you’ll find out how motivated they are. Do they really want to buy that house or car? If your prospect came as a referral from a real estate agent or mortgage broker, the chances of them saying “yes” are high. The chances are probably not so high if they came from an internet ad or Facebook or Instagram post.

If they say they are not ready, I suggest asking another question to find out why. “Is the reason you’re not getting started due to your budget or do you need to know more about how we can help you increase your credit score? This will typically flush out whether they have the money or not. If not, you can choose to get a future date when they will have the money and follow up.

Learn More About Our Credit Repair Business Model

We offer a very unique credit repair business model. This model can alleviate many of the challenges in starting a credit repair business. Visit Start a Credit Business. There you’ll find a detailed overview video. Once you’ve seen the video, if you’d like to ask questions and learn more, let’s talk. Click the ‘Book a Phone Appointment’ icon and schedule a call with me on a day and time that works for you. Talk to you soon!

I hope you got value from this post. That is my goal.
If you did, you can get notified of new blog posts as I publish them. Just enter your Name & Email Address.
“Please know that I do not distribute my subscriber’s information”. – Dale Guiducci

Boost Your Credit Score

September 11, 2019
, , , Dale Guiducci 0

Boost Your Credit Score
by Adding Positive Accounts

Most people don’t realize that there are many ways to boost your credit score.
Removing negative accounts from your credit report will increase your credit score.
And, we can help you with the best credit repair service in the country.

But you also want to ADD AS MANY POSITIVE ACCOUNTS to your 3 credit reports as possible.
The more creditors you have reporting a “paid as agreed” status
to Experian, Equifax, and Transunion each month, the more your credit score will rise.

Choose From a Wide Variety of Ways to
Add Positive Accounts to Your Credit Reports

Credit Builder Loans 

These companies offer a way for you to take out a small loan and pay it back. The money accrues in a savings account that you get back at the end of the term. The company keeps a small fee at the end of that term. This is a very affordable way to start building your credit score.

Self Credit Builder

Self Credit Builder

Build credit history & save money. No credit? Need to build credit?
1- Apply for a Credit Builder account. 2- Pay off your Credit Builder account in the specified time period (12 to 24 months). Your money is deposited into a CD. 3- Each monthly payment builds credit history and adds to your savings 4- Once you’ve paid off your Credit Builder Account, your CD unlocks and the money is yours.

Credit Strong

Credit Strong

Build Credit Even If You Don’t Have a Credit Card. Reports to all 3 credit bureaus.
1- Open an Account

2- Make On-Time Payments

3- Track Your Progress

4- Unlock Your Savings

Get Credit for Your Monthly Rent Payments

Right now your rent payment on your home, condo or apartment doesn’t give you credit on your credit reports. Change that!

Credit My Rent

Credit My Rent

Build credit with payments you already make. Right now your rent payment on your home, condo or apartment doesn’t give you credit on your credit reports. Change that! Get up to 2 years of past rent payments, and all payments in the future, placed onto your Transunion credit report.

Credit Cards are an Important Tool for Building Credit

Choose either a Secured or Unsecured credit card for people with lower credit scores. Or, if you have an excellent credit score, choose from some of the best rewards cards available.

First Progress Secured Credit Card

First Progress Secured Credit Card

If you’ve been turned down for a credit card due to credit score, open a secured credit card account. You put a small amount (minimum $200) on account with Synovus Bank and get a credit card with the same limit. Use your new credit card for items that you need every month like gas and groceries. Then pay the balance off each month. Your on-time payments get reported to each of the 3 major credit bureaus.

Authorized User Tradelines to Raise Your Credit Score

By getting placed as an “Authorized User” on a credit card account with a long history of low utilization and on-time payments, it can increase your credit score significantly. If you need to boost your score fast to qualify for a purchase, consider an authorized user tradeline.

authorized user tradelines

Credit Pro Tradelines

Credit Pro has been boosting credit scores with authorized user tradelines
longer than any other company around! Credit Pro will boost your FICO® score by adding tradelines with a perfect payment history to your credit.
Receive a 10% discount off Credit Pro’s already low prices

Boost Your Credit Score
<img class="blog_post_image" src="https://eracreditservices.com/wp-content/uploads/2019/09/A-Credit-Repair-Career-What-Does-It-Take-625x415.png" alt="A Credit Repair Career –
What Does It Take?" />

A Credit Repair Career –
What Does It Take?

September 9, 2019
, , , , , , , Dale Guiducci 0

When thinking about possible businesses to start, whether it be a part-time side hustle or a full-time venture, a lot of people think about a credit repair career. And, for good reason. Especially if they get gratification from helping others. A good credit score has become more important than ever before. And, there are millions who have a poor score and don’t understand how to get a good credit score.
I’ve written many blog posts and done over a dozen videos that you can find on my YouTube channel that explain the steps necessary to start a credit repair business. So, I’m not going to cover those details in this post. Instead I’m going to focus on what it takes after someone has begun their credit repair career.

Know the Probability

I know this sounds very basic, but I talk to people in credit repair all the time that really do not know how federal law works. They simply do not understand credit repair law. It’s one of the first things I teach someone when they join our company. I’m not just talking about the Fair Credit Reporting Act. Someone in credit repair needs to understand the probability that an item can get removed from a credit report based on several different factors. How old is the item? What type of item is it? Who is the creditor? Is it an open or closed account? Is it a charge-off? Has the item been paid or is it still outstanding? All these factors will either increase or decrease the probability that you or any company can get that item removed for the client.

Understand the Credit Repair Market

Another area I see lacking by many that want a credit repair career is that they don’t understand the credit repair market. They believe that everyone that has a sub-600 credit score desires to take the steps and spend the money to get a higher credit score. That is not true at all. The only time most people with a poor credit score are motivated to improve their situation is when they want to use their credit. When they want to buy something like a home, a car, or another major purchase that requires financing. I say this all the time. “People can live their whole lives with a bad credit score.”

The reason that this is important to understand if you want to have a credit repair career, is because of marketing. You could spend a bunch of money and countless hours chasing the wrong people. You need to find people that are emotionally invested in a major purchase. And, have enough money so that your fee for service seems like nothing compared to not being able to make that purchase. Chasing people that have a low score but aren’t ready to buy something that requires them to have good score is a serious waste of time and money.

Know Your Competition

It amazes me that people want to be successful in selling their credit repair service, but they have no idea who the competition is in their local area and the national companies. Once you learn who your competitors are then find out what they do and what they charge. Do they pull credit, or do they ask the client to furnish it? Is there policy to dispute all items right away or do they string it out to be able to charge more monthly fee to their clients? Do they provide their clients with any online reporting? You need to know what you’re up against in order to do what comes next.

What Makes You Different?

There are thousands of companies, large and small, in this country that do credit repair. How are you going to be any different? Why should someone trust you? What is going to make them start their credit repair service with you? If you can’t answer these questions with some serious differentiators and with confidence, stop now and find those answers.

How Are You Going to Get Your Clients?

This is also huge to figure out before you invest a lot of time and energy into your credit repair career. There are 2 main ways to attract clients. You can advertise. If you decide to go this way it doesn’t matter how you choose to do it, there’s always going to be a challenge. When someone calls, emails, texts, or comments in response to an ad, you’ll have no trust factor or no credibility. You’ll have about 10 seconds to develop that. Which means you better be good on the phone and have some sales skills. It goes back to what I said about people with a low credit score not necessarily being motivated. They may see your Facebook post at 11 at night and be a little curious. But are they serious? You’ll need to sort through a ton of advertising leads to find sales. Trust me.

The best way in this industry to find qualified leads and have trust and credibility before they even contact you, is when you get referrals. Specifically, referrals from real estate agents and brokers, mortgage brokers and loan officers, and other credit-related industry professionals. This is the bread and butter of the industry. You can offer these professionals the opportunity to help them close more business and make a significant amount more money every year. All they need to do is edify you and give you their credit challenged prospects info. It’s a beautiful thing.

Be Consistent in Your Credit Repair Career

In order to have a successful credit repair career it’s also important to be consistent. Many people start a credit repair business on a part-time basis. It is easy in that case, to become distracted and not put in consistent hours and consistent effort into building your business. Especially in the beginning, whether or not it’s going as well as you expected, you have to push through the emotions and the fatigue and do the work every day. Given that you have studied and know credit repair law, know the chances of removing items, know the credit repair market, know your competition, can share your differentiators, and have a good marketing plan, you still need to work your tail off. It won’t come easy. And, it will take some time. But a successful credit repair career will only come to those that consistently work on their credit repair business every day.

If you would like to learn how you can have your own credit repair Agency and work with me, visit Credit Repair Business Opportunity to watch a short video and then book a phone appointment. We’ll talk about what you’re trying to accomplish and whether what we do is a good fit for you.

I hope you got value from this post. That is my goal.
If you did, you can get notified of new blog posts as I publish them. Just enter your Name & Email Address.
“Please know that I do not distribute my subscriber’s information”. – Dale Guiducci

The Best Credit Repair Software

August 10, 2019
, , , , , , Dale Guiducci 0

If you are interested in starting a credit repair business, then you realize there are a lot of items to research. One of the more crucial items is the software you’ll use to generate dispute letters. There are many different options out there which makes it more confusing and time consuming. So, what is the best credit repair software?

Here’s what I can tell you which I believe is the most important choice factor. I have talked to literally thousands of people over the last 7 years who either want to be in the credit repair business, or already are. Those that were in the credit repair business already did the research. There were many to choose from:

Credit-Aid
DisputeSuite
ScoreCEO
TrackStar
TurboDispute
And more

The Best Credit Repair Software

The #1 choice for those that were already in the credit repair business that I talked to is, Credit Repair Cloud. A lot of these credit repair business owners had spent a lot of time researching, and also using Credit Repair Cloud, and decided it was the best credit repair software.

But read on…

The most important thing for you to realize is that these established credit repair business owners that were using the best credit dispute software were talking to me because something was wrong with their business. To be more specific, something was wrong with their business model. They were calling me to understand our credit repair business model to overcome the challenges they had. What were those challenges?

Let’s go back to the research you’re doing. You’re coming to realize that to get your business started, in addition to finding the best credit repair software, you also have to:

– Investigate what your state requirements are (surety bonds and/or other).
– Realize that satisfying your state requirement only allows you to do business in your state.
– Investigate the federal Credit Restoration Organizations Act (CROA) to understand how you can charge a client.
– Figure out how to pull credit for your clients (credit report brokers will not work with credit repair companies). Even Credit Repair Cloud refers you to an online credit monitoring service that requires your client to pull their own credit. This is not the most professional approach.
– Figure out how to be able to take credit and debit cards (merchant services companies will not work with credit repair companies).
– Build a website and learn how to drive traffic to that website while competing with large companies on Google such as Lexington Law, CreditRepair.com, Pyramid Credit Repair and others.
– Develop strategies to compete with companies in and out of your area that have a Better Business Bureau rating and accreditation, National Association of Credit Services Organizations (NACSO) certification, or other designations.
– And more…

But What’s Your Biggest Challenge

BUT HERE IS THE BIGGEST CHALLENGE YOU FACE AND WHY THESE CREDIT REPAIR BUSINESS OWNERS WERE CALLING ME. Despite what ALL these credit dispute software companies tell you, providing credit repair service to a client is very time consuming. You need to figure out how you’re going to find the time to market your business, sell to those prospects, provide customer support after the sale AND, provide the service. Importing credit reports and generating dispute letters is key. But it’s only part of providing service.

And, by the way, even if you figure this out, you’re still only providing credit repair (the removal of derogatory items) to your clients. Successful credit repair companies today provide far more services like online credit monitoring, identity monitoring, credit education, and online tools for their clients.

If you can afford to hire a staff, you may overcome this challenge. But if you’re going it alone you should be prepared that this will require more time than you’re anticipating. If you have a job or other business, you’re going to have to find that time. That is why these people were calling me. They didn’t have the time to do everything. They had to either stop marketing efforts because they didn’t have the time, or turn away clients.

The Big Takeaway

So, what’s the biggest take away from this? The best credit repair software is not going to overcome your biggest problems. After 7 years in the business I can emphatically tell you with conviction and confidence, there is only one business model and opportunity in the country that WILL overcome every challenge you face in starting a credit repair business. And, that’s ours.

Take 21 minutes to watch a detailed overview video about our business model. You’ll learn that:

  • No surety bond is required
  • You’ll immediately be able to do business in all 50 sates
  • We are fully compliant with CROA
  • Credit is pulled for your clients at no charge to you
  • Accept Visa, MasterCard, Discover, American Express, and debit cards at no charge to you
  • You’ll have a professional, customized website provided for you
  • Access to complaint social media marketing materials, phone apps, a sales funnel system and more
  • You’ll instantly be backed by an A+ BBB rating and accreditation and a NACSO certification

And, you’ll learn that you won’t have to worry about analyzing credit reports and drafting dispute letters. That will be provided by a trained and experienced staff.

A Credit Repair Business Opportunity that Solves All the Problems

There’s more to learn about our business model so visit Credit Repair Business Opportunity to watch that video. Then, if you like what you see and want to talk directly with me, click the icon below the video to ‘Book a Phone Appointment’.

I look forward to talking with you.

I hope you got value from this post. That is my goal.
If you did, you can get notified of new blog posts as I publish them. Just enter your Name & Email Address.
“Please know that I do not distribute my subscriber’s information”. – Dale Guiducci

The Best Credit Repair Software
Network Marketing and Credit Repair

Network Marketing and Credit Repair

August 7, 2019
, , , , , , , Dale Guiducci 0

In order to absorb what I’m going to share you have to put aside any pre-conceived opinions you have about network marketing or the MLM industry. Just for a few minutes. I am well aware of all the arguments against the industry and I’m not going to debate them. I’ll just tell you that regardless of the perceived downsides of the industry, network marketing is the best business model for credit repair. And, I’ll tell you why.

Let me first address the challenges that the credit repair business presents. They fall into 3 major categories. Federal and state regulations, the scope of providing service to customers, and competition from large companies.

Federal and State Regulations

The Credit Restoration Organizations Act (CROA) restrict you from charging fees to a client before service is provided unless you are a bank, credit union, attorney or 501(c)3 non-profit organization. They do allow you to charge a nominal account activation or set up fee. How this affects you depends on how much profit you want to make in the business. There will be more on this later when I discuss competition in the industry.

State regulations (in most states) require you to purchase a surety bond. If you want to do business outside your state, you must purchase a surety bond in other states as well. These bonds are a continuous expense not a one-time fee.

In addition, the federal government and each state has its own truth in advertising laws that you must be aware of and comply with. Failure to comply with these advertising laws could result in very stiff penalties. States like Georgia and Utah have recently severely cracked down on credit repair companies advertising in those states.

Providing Service to Clients

Next, and maybe most importantly, has to do with the scope of providing service to a client. I realize that companies that sell dispute software like TurboDispute, DisputeSuite and CreditRepair Cloud make it sound like it takes no time at all to pull credit, analyze credit reports and draft dispute letters. First of all, it takes more time than they tell you. But that’s not the full extent of the work in the credit repair business. It’s not even close. You need to market and find prospective clients. Then you need to sell to those clients. People don’t typically click a link and sign themselves up for credit repair. This isn’t like buying a product from Amazon. Then you need to deal with disputes. Then you need to provide customer service and support once the service is under way.

I can’t begin to tell you the number of people that have tried to do this on their own that have called me. They have given up on trying to bring in enough clients to pay the bills and provide service to that number of clients.

Can You Compete Against the Big Companies?

Then there is the issue of competition from large companies that dominate the industry. Companies like Lexington Law, CreditRepair.com, and Sky Blue Credit Repair. They dominate internet advertising in every market in the country. They have the money to outbid you for position on Google.

But that isn’t the biggest challenge you have when competing against big companies in the credit repair industry. The biggest challenge is providing the type and scope of service that companies likes ours can provide at a price that is perhaps less than, or similar, to what you can afford to charge. You might be able to provide credit repair (removal of negative items from credit reports) for let’s say $80 a month. We provide that along with 11 other financial services for $89 a month. And, we do it with an A+ BBB rating and accreditation, and a NACSO certification. That’s hard to compete with.

Why Network Marketing and Credit Repair Works

Now that I’ve discussed the challenges in the credit repair business let me share with you why network marketing is the best business model for credit repair. In a nutshell it’s because our business model overcomes every single challenge I’ve described above. We have the resources, the technology, and the infrastructure in place. All you need to do is plug into it and you’re in business tomorrow.

We overcome state and federal regulations because our credit repair company is a 501(c)3 non-profit organization. Therefore, we are as stated above, exempt from CROA regulations. As an independent Agent for our company you can charge up-front fees (the up-front fee we charge is nominal, just $99) and you can do business in all 50 states without purchasing a surety bond.

You still need to follow truth in advertising laws, but our company provides you with information on compliance with those laws. And, we make available to you legally approved brochures, flyers, folders, business cards, social media templates, phone apps, and an online sales funnel system. All of it complies with the laws in all 50 states and is available to you from day one.

Have Time to Bring in More Business

Now let’s address providing services. With our business model you don’t provide services. Our staff does that for you. Not only are they trained at a high level to provide client services, they also provide customer support for the length of time the client is on service. This allows you to find more people to sell services to. It frees up your valuable time so you can maintain another business or work the credit repair business part-time until you can make it a full-time business.

Now let’s talk about competition. By working with us as an independent Agent you will be providing more services than any other company in the industry for the same price or less than the big companies provide credit repair. This allows you to compete with the small company in your area and the largest companies in the country.

Use Leverage to Build Your Business

But this is the biggest reason why network marketing is the best business model for credit repair. It’s because the profit margins in credit repair are small. You can’t charge much more than $100 a month and compete. So, given everything I’ve shared above how many people do you think you can bring in on your own and provide service? How much will those clients be paying you to do all of this? What if you want to take some time off or you get sick? Who’s going to run your business and what’s your profits going to look like?

With our network marketing and credit repair business model, you can build a team of other independent Agents and get paid on their production. You can build it as small or as large as you want. In fact, you don’t have to bring in any Agents or build a team at all. But if you do that’s where the true substantial incomes in this industry are anymore.

Build True Residual Income

People come into the credit repair business because they think there’s residual income. There’s only temporary residual income until your client stops paying. No client is going to pay for credit repair any longer than they need to, and sometimes they stop paying before they should.

When building a team of Agents, you build a true residual income. Because when you stop working for any reason your Agents do not.  It does take time to build that residual. It doesn’t come over night. But once you’ve built it, it comes each and every month. I had to take a couple of months off in 2017 for a major surgery. I also slowed down in 2018 to fully recover. But my checks didn’t because my team didn’t.

Network marketing has its flaws. No doubt. But for the credit repair business it provides the solution to so many challenges in this industry. You don’t have to put out a huge expense to get into the business. And, you can get started today for as little as $288.00.

Find Out the Details

If you’d like to find out all the details visit our Credit Repair Business Opportunity page and watch a 21-minute video. If you like what you see, and I’m sure that you will, click the icon just under the video to book a phone appointment with me. We’ll discuss each and every question you have. I look forward to that conversation.

I hope you got value from this post. That is my goal.
If you did, you can get notified of new blog posts as I publish them. Just enter your Name & Email Address.
“Please know that I do not distribute my subscriber’s information”. – Dale Guiducci

Start a Credit Repair Business Today

July 18, 2019
, , , , , , , Dale Guiducci 0

We’re coming up on our 7 year anniversary of starting our credit repair business. In those 7 years I have spoken to over 2,600 people that have called me with a desire to start a credit repair business themselves. Each one of them struggling with the regulations and red tape of getting their credit repair business started. I’ve told each of them the same thing. You can start a credit repair business today by doing it the same way I did.

Some of those people followed my advice. Others continued to do research only to discover that surety bonds, pulling credit, merchant services and other road blocks were too much to overcome. They eventually realized that, even if they could wade though and overcome these hurdles, that it takes too much time to operate the business alone. And hiring staff just wasn’t practical based on the profit margins in the credit repair industry. So, they quit trying. They gave up on the idea entirely.

Grow a Credit Repair Business as Large as You Desire

I received a call yesterday from a man in Georgia who had started a credit repair business a year ago using software from Credit Repair Cloud. He went through all the training. He started marketing his business and got clients. To an outsider it would seem like he was doing well. Except that because he had to do all the work of analyzing credit reports, drafting dispute letters, and generally delivering the service to his clients, he could not grow his business any further. He stopped that business and was calling me because he realized that with our business model, he could scale his business as large as he desired.

What It Takes to Start a Credit Repair Business

There are 2 major issues to overcome to start a credit repair business. The first is all the state and federal regulations. And, then finding a way to pull credit for clients. Then finding a merchant services company to work with you to allow you to take credit and debit card payments.

The 2nd major issue is then finding the time and having the expertise to do marketing, sales, and service delivery without a staff. Or, affording to hire a staff to do some of the work for you on the profit margins generated in the credit repair business.

Problems Solved

With our business model none of those are issues at all. Our company delivers all the services to your clients. They pull credit, draft dispute letters, send out the letters and provide customer service to the client 12 hours a day Monday through Friday. They also take payment from the client via Visa, MasterCard, American Express, Discover or debit card.

And, because our company is a 501(c)3 non-profit, and you represent our company, you are not subject to the Credit Repair Organizations Act (CROA) laws. You do not need to purchase a surety bond or register in any state. And, you can do business in all 50 states. Your market expands to the entire U.S..

Your focus then becomes marketing and sales only. If you are good at marketing and sales you not only can do very well, but you can scale your business to any level you desire. In fact, you can bring on Agents all over the country that will generate revenue and income for you. The company actually pays you a bonus to do so.

We Train You Every Step of the Way

You’ll have training on how to go out and generate business. We show you how to generate referrals. Then we’ll share with you the most effective way to sell to a customer prospect. And, if you do bring on other Agents, we’ll train them as well.

And here’s the icing on the cake. Because it’s all built and has been since 2004, you can start a credit repair business today. We can have you into our online training program immediately. This program doesn’t teach you have to draft dispute letters. We have a large expert staff that does that for you. We’re going to train you on building a credit repair business that is affordable ($288 to start), sustainable (you have help building it), profitable (you keep what you make because your business expenses are very low), and scalable (build it as large as you desire).

Get the Details of Our Business Model

For further information and to learn all the details visit Credit Repair Business Opportunity. There you will find a 21-minute video. You’ll get 90% of your questions answered. Then you’ll want to book a phone appointment with me. You’ll see a tab that will bring up my appointment calendar. Just pick a day and time that works for you. We’ll get on the phone and see if our business model is a good fit for you.

When you’re ready we’ll get you set up with websites, your online training, our private Facebook Group, and our weekly live training. Are you ready to start a credit repair business today? If so, visit Credit Repair Business Opportunity. Talk to you soon.

I hope you got value from this post. That is my goal.
If you did, you can get notified of new blog posts as I publish them. Just enter your Name & Email Address.
“Please know that I do not distribute my subscriber’s information”. – Dale Guiducci

Start a Credit Repair Business Today
<img class="blog_post_image" src="https://eracreditservices.com/wp-content/uploads/2019/07/How-to-Run-a-Credit-Repair-Business-From-Anywhere-ERA-Credit-Services-625x415.png" alt="How to Run a Credit Repair Business
from Anywhere" />

How to Run a Credit Repair Business
from Anywhere

July 9, 2019
, , , , , Dale Guiducci 0

As I’m writing this, I’m in Columbus, NC. Columbus is about 650 miles north of my home in Largo, FL at the foothills of the Blue Ridge Mountains. My wife, Shirley and I have been here for a little over a week and we’re having a great time. This is such a beautiful area to explore. We’re here for 5 weeks and we plan to explore as much as we can. That is what has prompted me today to write about how to run a credit repair business from anywhere.

Our credit repair business has given us a very nice income, allowed us to save for retirement, build a steady residual income for the day when we stop working, and gives us time and travel freedom. The credit repair business is a great business!

The Right Business Model Creates Freedom

But as I’ve been writing about and doing YouTube videos about for years, you must have the right business model. You can run a credit repair business in a few different ways. But if you want true residual income and the ability to travel and still work your business, there is only one way to do it that will work.

It’s all about having a staff that does the administrative part of the business. I call it the service delivery. If you’re marketing for credit repair customers, selling to those customers, delivering the service, and providing customer support you will be tied to your business. You’ll never be able to take time off and travel.

Think about it. What sense would it make to do what we did. You drive 11 hours to get to a beautiful spot and now must take calls for new business, pull credit, analyze credit reports, draft dispute letters, and take calls from existing customers that have questions. That does not sound like a fun travel experience.

Travel and Still Run Your Credit Repair Business

Here’s how I’ve got things set up for the 5 weeks that we’re in North Carolina. I still take calls from customer prospects. But I only take those calls during the hours I’ve scheduled myself to work which is Monday to Thursday, 10 am to 5 pm. If they call at another time, I’ll text them back and ask then to go to my website and book an appointment. I have software on my website that pulls up my Google calendar and shows the times that I’m available. They pick a time and I get the information to call them at a time that I’m working.

If I sell our services to that customer, I input the information and our staff does the rest. I’m done. I don’t need to worry about pulling credit, drafting letters or answering the customers questions. If there are any serious issues with a client, our staff calls and discusses it with me. And, there are rarely serious issues with a client.

Check Out Our Credit Repair Business Model

If you’d like to explore our business model and how you can have a staff that does all the administrative side of the business for you visit Credit Repair Business Opportunity. Watch a 21 minute video which is the only video on that page. Then use my appointment booking system and book a time to talk with me that works for you.

You’ve got to think ahead and plan before you start our business. If you don’t, your business will own and run you instead of the other way around.

I hope you got value from this post. That is my goal.
If you did, you can get notified of new blog posts as I publish them. Just enter your Name & Email Address.
“Please know that I do not distribute my subscriber’s information”. – Dale Guiducci

Credit Repair Service Outsourcing

June 20, 2019
, , , Dale Guiducci 0

One of the biggest challenges in the credit repair business is having the time, expertise, and bandwidth to provide the credit repair service to clients. Credit repair business owners soon discover that they must allocate time to marketing their business and selling to new clients as well as delivering the service. Because there are only so many hours in a day, many look for alternatives such as credit repair service outsourcing.

The business opportunity we offer has been become a credit repair service outsourcing option for some who have started a credit repair business, have clients coming in, but are getting bogged down in delivering the credit repair service. By joining forces with us they have more time for marketing and sales, and expanding their business.

Get Started Working With Us Today for Under $300!

The Advantages in Using Our Credit Repair Service Outsourcing

Scalability

Do you find that you can bring in more clients than you can handle? Our credit repair service is delivered by an expert and well managed staff in our corporate office. If you have 10 new clients a month or 100 or more, we can handle the volume of new credit repair accounts. In 2019 we are projected to have well in excess of 90,000 credit repair clients.

Brand Your Company

When you outsource your back office credit repair fulfillment to us you still maintain your brand. You can continue to market your company identity on a local or national level. The only difference is that you’ll have more to market and offer your clients.

A Nationwide Business

How would you like to offer credit restoration to people in all 50 states? By working with us you can. We can legally offer credit repair and other services in any state in the country. By working with us, you now can too! You do not need to acquire surety bonds or register with any state. And, you can be sure that the services we offer are done with 100% compliance to federal and state laws.

Profitability

Our service is offered for a one-time $99 account activation fee plus the clients 1st monthly payment of $89. That’s a total of $188. You are paid $100 of that $188 the following week. Then you are paid $12 on each $89 payment the client makes. Based on 6 months of service you earn $160 or 25% profit. And here’s the best part. You have no overhead. You’re not paying a company for use of their software. You keep 100% of what you make.

A More Valuable and Competitive Client Offering

Most credit repair companies offer credit repair only. The difficulty then becomes differentiating their company from the thousands of others out there. What makes them different? Not much really. But by using our credit repair service outsourcing you can now offer a host of other services along with credit repair.

Our Service Package for Clients

The following are provided as a package of services for $188 and $89/month. For a complete explanation of each service visit Credit Repair Services

Credit Repair– We dispute all items right away providing the fastest service allowed by law. Our credit repair service is A+ rated by the Better Business Bureau and certified by the National Association of Credit Services Organizations (NACSO).

Online Credit Monitoring by Smart Credit

Identity Monitoring and Identity Protection by Privacy Armor

Credit Builder– Education and recommendations on what the client can do to increase their credit score

Credit Attorney– Will step in to assist derogatory account removal if an item that legally should be removed, is not. They will also act against debt collectors that are harassing our/your clients.

Online Debt Pay Off System to assist clients in reducing debt

Last Will & Living Trust

Online Budgeting

Net Worth Calculator

Savings Calculator

Financial Contacts Tool to inform loved ones in the event of a medical or other emergency

Additional Services

Credit Bureau Reporting of Monthly Rent Payments – Your client that rents an apartment or home can further boost their score by having their monthly rental payments added to their TransUnion credit report.

Secured Credit Card for clients that are building their credit we offer a secured credit card through Synovus Bank.

Client Retention

Typically, in our industry when a client has achieved results on their credit score, they cancel their service. There is a definitive end to the income from this client. That is why we offer money-saving services to the client as well.

Once they are satisfied with the results with their credit score, they can now take advantage of saving money on travel, cellular phone service, live streaming, legal services, health services, roadside assistance and more. This will keep your client on service and keep that monthly residual income coming in.

Client Tracking and Reporting

You are kept up to date with each client through your Business Office. Your Business Office is a complete online reporting system of each clients account progress and results. You are also able to call our Customer Support Department Monday through Friday from 9am to 9pm for questions and information on your clients.

Reporting for Referral Sources

If you receive client referrals from real estate agents, mortgage brokers or others, you’ll be able to set them up with their own online portal to track the progress and results of the clients they refer to you. This is a major tool in helping you get more referral business.

Product and Business Training

We provide you with extensive online training, live weekly training, and one on one coaching. You’ll learn about our services, our extensive compensation plan beyond sales to clients, and how to market your credit repair business.

Get Paid When Others Generate Business

What if you could earn income from others that wanted to market and sell credit repair services? There are many people looking for a side hustle to earn some extra money each month. There are others that are looking for a career change. What about the real estate agent that wants to offer credit repair to their clients directly? You can bring on other people that offer our services and get paid when they do so!

Join Forces With Us Today for Under $300

For a complete explanation of how this all works visit Credit Repair Business Opportunity.

You’ll see a 21-minute video that will share details with you. If you like what you see you can then schedule an appointment with me, Dale Guiducci. I have an extensive background in the industry and have trained hundreds of people on building a credit repair business. We can discuss what you’re trying to accomplish and help you decide if this is the right fit for your credit repair business.

I hope you got value from this post. That is my goal.
If you did, you can get notified of new blog posts as I publish them. Just enter your Name & Email Address.
“Please know that I do not distribute my subscriber’s information”. – Dale Guiducci

 

 

Credit Repair Service Outsourcing