ERA Credit Services

Category: Credit Repair

Credit Repair Laws – Know the Rules

Credit Repair Laws – Know the Rules

In most cases, our articles about credit repair are focused on either consumers that are looking for a credit repair company or individuals that are looking to start a credit repair business. This article is directed toward both. Consumers should know some basic credit repair laws when searching for the best credit repair company. And, prospective credit repair business owners certainly need to be aware of credit repair laws before they decide to start a credit repair company or to determine what type of credit repair business model is best for them.

The Fair Credit Reporting Act

The Fair Credit Reporting Act, or FCRA, is a consumer protection law governing what is reported on consumer credit reports and the privacy of that information. It also ensures the accuracy of the information listed on credit reports by creditors and how inaccurate and outdated information can be corrected. The FCRA was passed in 1970 yet most consumers do not know their rights under this law. There are many aspects of this law but for most consumers, there are two main components of the Fair Credit Reporting Act that benefit them most often.

Right to Your Credit Report Once a Year

Consumers have the right to receive a free credit report from each of the 3 main credit bureaus, or credit reporting agencies (Experian, Equifax, and Transunion) once a year. However, the credit bureaus do not need to provide a credit score. They can charge a fee if the consumer also requests a credit score.

To get a free credit report annually from each of the 3 credit bureaus go to www.AnnualCredit Report.com. Here consumers will be able to see and download a copy of any or all 3 credit reports. However, consumers should be careful as this website will charge for items such as a credit score.

Due to COVID-19, the credit bureaus are allowing consumers to view their credit reports online for free on a weekly basis through April 2021.

Right to Challenge or Dispute Inaccurate Items

The other most used component of the FCRA is the right to challenge or dispute inaccurate or outdated items on a credit report. If a consumer concludes that the information listed on their credit report is not correct, they have the right to ask that this information be verified by the creditor.

Each of the credit reporting agencies or credit bureaus gives consumers a way to do this online. However, consumers need to be aware that there are only a few reasons that the credit bureaus consider legitimate for information to be disputed. If not listed correctly the dispute will be dismissed.

Even though the credit bureaus by law must allow consumers this right they don’t have to make it easy. That is why, in most cases, it is advisable for consumers to enlist the help of a reputable credit restoration company to assist them in the process. Otherwise, consumers can spend the time to learn how to do this themselves. Some can and will do this. It’s similar to changing the oil on a car. Some will buy the tools and learn how to do it themselves. Others will go to Jiffy Lube.

The Credit Repair Organizations Act

The Credit Repair Organizations Act, or CROA, is a set of laws governing credit restoration or credit repair companies. There are several aspects of CROA that individuals wanting to start a credit repair business must know. But there are 2 key components that must be addressed. And, that most individuals that desire to be in the credit repair business will find it difficult to satisfy.

Charging Upfront Fees for Credit Repair Services

The Credit Repair Organizations Act makes it illegal for a credit repair company to charge upfront fees to provide credit repair services before the services are provided. However, a credit repair company can charge a nominal account set up fee. The purpose of this law is to prevent unscrupulous credit repair companies from charging large fees and not providing services at all which has happened in this industry. The details of ‘when services are rendered’ are difficult to interpret. But for individuals starting a credit repair business, this will affect their cash flow for a period of time. They will not be able to get paid right away. This can prevent well-intended people from starting a credit repair business.

Surety Bonds to Provide Credit Repair Services

The other key component that affects individuals that want to start a credit repair business is the requirement of a surety bond. Surety bonds are also known as a credit service organization bond or credit repair company bond. Surety bonds are like insurance policies with the consumer as beneficiary. If the credit repair company does not provide services after collecting fees from the consumer, the consumer can be reimbursed. Surety bonds basically ensure that the credit repair company will do what it says it will do.

The requirement for a surety bond and the amount of the surety bond is dictated by each state. Some states do not require them while others require different amounts up to $100,000. Surety bonds are purchased through private companies and fees range greatly. If a credit repair company has a surety bond in a particular state, they may conduct business only in that state. To do business in other states they must meet the requirements of those states.

Exemptions from the Credit Restoration Organizations Act

Written into CROA are exemptions for specific types of organizations or entities. If an entity that provides credit repair services is a bank, credit union, attorney, or 501(c)3 organization, they are exempt from CROA. This means they do not need to have a surety bond and can legally conduct business in any state if they fulfill other requirements in those states.

Understanding Credit Repair Laws

Understanding a few basics of credit repair law is helpful for consumers. But it is imperative for anyone that wants to start a credit repair business to understand these laws completely. Unfortunately, people spend a significant amount of time and money getting a credit repair business set up only to learn about these laws after the fact. Many either abandon their efforts and money or decide to continue and provide illegal credit repair services. This opens them up to a great deal of liability.

Provide Credit Repair Services Legally in All 50 States

For perspective credit repair business owners that want to provide services legally in all 50 states, there is a solution. There is a business model that is set up with all the infrastructure provided and all credit repair laws satisfied. And it costs less than $300 to get started. This is the business model we got started with back in 2012. If you’d like to know more visit Credit Repair Business Opportunity. Watch a 30-minute video. If you like what you see you can then book a phone appointment with me, Dale Guiducci, to learn more and get your questions answered. Ultimately our goal is to see if our business model is the right fit for you.

How Important is Your Credit Score in Retirement?

This article is re-posted 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.

How Important is Your Credit Score in Retirement?
<img class="blog_post_image" src="https://secureservercdn.net/166.62.107.20/xnm.7ae.myftpupload.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

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

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.

Boost Your Credit Score
<img class="blog_post_image" src="https://secureservercdn.net/166.62.107.20/xnm.7ae.myftpupload.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?

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 a 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

Best Tampa Bay Credit Repair Service

For 5 years in a row, ERA Credit Services has been chosen by our clients as the best Tampa Bay credit repair service. We’re extremely proud of this. And, we’re excited that a decision we made years ago allows us to bring the very best credit repair service to Tampa Bay.

ERA Credit Services is an Independent Agency representing a 501(c)(3) non-profit organization
and does not directly provide credit repair services or accept funds from clients for credit repair services.

What was that decision? Well, you’ve heard the saying, “if you can’t beat ‘em, join ‘em”. In 2012, my wife and business partner, Shirley and I were looking for the very best credit repair company we could find to help our credit challenged clients. We had an accounting business serving small business owners. Some of those clients needed credit repair to help them recover from the recession.

To make a very long search and story short, we contacted many companies and were getting discouraged. None of them seemed to provide the service and customer support we desired for our clients. Until, through a Facebook post, we found out about the very best company in the country. After extensive research on that company we also learned that they had an opportunity for us to represent them and provide the services directly. We decided to join forces with that company and haven’t looked back. In fact, 2 years later we closed our accounting business and have been exclusively in the credit repair business ever since.

So, what makes that company the very best Tampa Bay credit repair service and best credit repair service in the country?

There are 4 key points.

All Derogatory Items are Addressed Immediately

A significant number of companies in the credit repair industry do not address all items for their clients right away. They do just 2 or 3 at a time. The only reason for that is to delay the conclusion of the service and thus charge the client more monthly fees.

We address all items right away, period. Our goal is to provide our clients with the highest credit score possible, as quickly as possible. Not only will that allow them to achieve their goals faster, but it will save them money.

Our Clients Receive Other Services to Help Increase Their Credit Score at No Extra Charge

Credit repair, which is the removal of the derogatory or negative items from a credit report, will increase your credit score. However, there are other ways to increase your credit score. We provide you with credit education, so you know what these ways are. You also receive online credit monitoring so you can follow the progress of your credit repair service. We protect your identity so no one can adversely affect your credit and credit score. And, you receive other services as well. All are provided at no extra charge.

Our Clients Get an Online Account Showing Every Aspect of Their Services

We provide you with a secure, password-protected online account. You’ll be able to see every step and all progress of your credit repair service. As well, this is where you’ll access your other services including credit education, so you’ll know exactly how to have the best credit score possible. If you prefer to use your phone versus a laptop or PC, we provide you with a Free Phone App so you can access all your services including credit restoration through your phone.

Superior Customer Support in English and Spanish

We have a staff of highly trained Customer Support Agents. These credit professionals are available Monday through Friday from 9 am to 9 pm Eastern time (Adjusted hours during COVID-19 Virus are 9 am to 5:30 pm Eastern). You can ask questions and make changes any time you like. And when you reach your credit score goal, they can cancel your account over the phone.

You will not find a more experienced, dedicated, and effective credit repair company anywhere in the country.

Book a Free, No-Obligation Phone Consultation

Click the icon below to book a time to speak directly with me, Dale Guiducci, or my wife Shirley. We will figure out what your needs are. We will explain how it all works including what it takes to get started. Then you can make an informed decision. If you want to get started, we will start you right then. We need about 20 minutes for the whole process.  We look forward to talking with you.

Find Out More About the Best Tampa Bay Credit Repair Service

If you would like to know more before you book a phone appointment with me, go to ERA Credit Service Credit Repair. Thanks for stopping by!

Best Tampa Bay Credit Repair Service
The Best Credit Repair Software

The Best Credit Repair Software

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 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

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

Network Marketing and Credit Repair

In order to absorb what I’m going to share you have to put aside any preconceived 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) restricts 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 have 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 underway.

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 a 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 like 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, 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, but 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 are 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 overnight. But once you’ve built it, it comes each and every month. I had to take a couple of months off in 2017 for 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

Network Marketing and Credit Repair
<img class="blog_post_image" src="https://secureservercdn.net/166.62.107.20/xnm.7ae.myftpupload.com/wp-content/uploads/2019/05/How-to-Generate-Solar-Sales-with-Credit-Repair-625x415.png" alt="How to Generate Solar Sales
with Credit Repair" />

How to Generate Solar Sales
with Credit Repair

How many sales are you or your company losing because homeowners cannot qualify for financing the installation of your solar system due to credit score? Homeowners typically need a credit score of 640 or above to qualify. And in some cases significantly higher. If you’re experiencing many situations where homeowners can’t qualify due to credit score pay close attention. I’m going to share with you how to generate solar sales with credit repair.

I started my credit repair business in August of 2012. In October of that year, I went to a local street fair and stopped by a table that had been set up by a solar company. The young lady that was behind the table asked me, “have you ever thought about adding solar to your home?” I told her that I hadn’t. But I asked her, “How many times do you sell a solar system and the homeowner can’t qualify due to credit score?” She rolled her eyes and told me that it was an alarming amount. It was frustrating to her and the other salespeople. And, she told me that the turnover of salespeople was high because of it.

Solar Companies Lose Up to 50% of Sales Revenue

I got the manager of the company’s information from her and set an appointment to meet with him. He shared with me during that 1st meeting that (as of November) they had written contracts for about $100 million so far that year and over 50% of the homeowners didn’t qualify for financing. They had lost $50 million in sales that year because homeowners didn’t have the credit score to qualify.

I talked with him about how to generate solar sales with credit repair and we began working together. Each “turn down” they got was passed on to me. We enrolled several of these homeowners in our credit repair program and within a few months, I was passing some of these homeowners back to them as qualified prospects.

How Many Home Owners Will Come Back?

Will every homeowner reach the credit score required by going through our credit repair program? No, not everyone. It will depend on why their credit score is low, to begin with. Will every homeowner that increases their credit score come back to you and have you install solar on their home? No. They may change their mind or have other priorities by that time. It typically takes a minimum of 90 days and up to 6 months or longer in some cases.

But you will get some of them back. Wouldn’t it make sense to start building a pipeline of homeowners that potentially will come back to you as motivated and now qualified prospects? What if it added just 10% to your revenue each year? Depending on the number of sales you or your company does on an annual basis, it could mean millions of dollars in sales.

Partnering With Us to Increase Solar Sales with Credit Repair

Please note- ERA Credit Services is an Independent Agency representing a 501(c)(3) non-profit organization and does not directly provide credit repair services or accept funds from clients for credit repair services.

Because we are able to do business in all 50 states we have helped solar companies all over the country. To learn more about what we do for credit-challenged consumers visit our Partner page. There you can watch a video about how we partner with professionals in real estate, the mortgage business, bankers, solar salespeople, and solar companies. You’ll also see an icon where you can book a phone appointment with me, Dale Guiducci. We’ll talk about your situation and formulate a game plan to generate more solar sales for you.

One Other Option to Consider

Some solar salespeople become Agents with our company. Instead of just referring the client to us they sell our services to that client and generate the income associated with the sale. As an example, one gentleman out of North Carolina started selling our credit repair service in 2016. Today he has a credit repair business that has generated over $300,000 in sales in a year. For details on our credit repair business visit our Business Opportunity page.

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.
“That is the only email you’ll get from me and I do not distribute my subscriber’s information”. – Dale Guiducci 

How to Use Credit Cards
to Build Credit Score

People fall into 2 major categories. Those with credit cards and those without. Whether you’re in one or the other you need to know that credit cards are an essential element in improving your credit score. So, let’s talk about how to use credit cards to build a credit score for both groups.

People Without Credit Cards

I totally get it. Maybe you’ve had credit cards in the past and things got a little out of hand. You let the balances get a little too high and had a hard time paying them off. Now you just want to pay cash for everything and stay out of trouble. That would be a good plan if you didn’t need to finance anything, ever. You would never need a mortgage or a car loan. You’ll never try to rent an apartment. No need for car, renters or homeowners insurance. Or, you simply move to a country where credit scores aren’t checked like they are here in the States. But let’s assume you stay in the U.S. and eventually need to do some of these things. If you don’t have at least one credit card you are missing a very important tool for building a good credit score.

How a Credit Score is Calculated

Payment History- 35%
Amounts Owed or Debt Utilization- 30%
Length of Credit History- 15%
New Credit- 10%
Types of Credit- 10%

Getting or having a credit card can positively impact all 5 of these categories. That’s assuming two things.  Payments are made on time, and balances are kept under 30% of the limit of the credit card limit. Using revolving credit such as a credit card also shows future creditors responsible use of credit.

You may not think it’s fair to have your creditworthiness judged based on these or any other factors. Or judged at all. But those are the rules that all people living in the U.S. must play by if they want to be able to get credit. If you do not have at least one credit card you are going up to the plate without a bat in hand.

Want a Credit Card but Have a Credit Score Too Low to Get One?

Get a secured card.  Secured credit card issuers will give you a card because they ask you to put an amount of money on account with them to “secure” the card. They, in effect, are getting their money upfront in the event you don’t pay the balance. That amount is equal to the limit of the card. This is a great way for you to ensure you don’t get irresponsible with credit cards. If you get a secured card make sure it reports to all 3 credit bureaus to best help you build your credit score. Here’s one that we recommend.

The First Progress Platinum MasterCard® Secured Credit Card

People with Credit Cards

Good for you! You are utilizing a tool to help you have a positive credit score. But that tool can become a double-edged sword in a few ways. I already shared one way. If you let the balances go over 30% of the limit of the card and can’t pay it down quickly, you are then hurting your credit score. Pay very close attention to this. Know what your credit card limits are. If you go over that 30% threshold stop using the card and pay it down.

However, there’s more to pay attention to if you have credit cards

If you do not pay the balance down to zero every month this is important. What’s the interest rate or APR on that credit card? Even if you keep your balance below 30% you are still paying interest on that balance very month. The interest you pay can add up to more than half of the balance. In some cases, the interest paid can far exceed the balance.

Example
$1,000 balance
25% interest rate
$30 minimum payment (3% of the balance)
By making only minimum payments it will take over 11 years to pay that balance off and it will cost you $1,499 in interest. So that $1,000 balance turns into $2,500 paid to the credit card company. And, this assumes you don’t use the card at all during this time period.

How to Use Credit Cards to Build Credit Score

  • Get out a note pad. Write down all your credit cards (Note- if you have more than 3 credit cards you might be hurting your score by having too much credit available. However, DO NOT CLOSE AN ACCOUNT IN GOOD STANDING. It will negatively impact your credit score. Just don’t use the excess cards)
  • Look at your statement or call your credit card company and determine the limits on the cards
  • Note the balances
  • Write down the interest rates
  • List the minimum payment amounts for the current balance

Pay attention to the following:

  • Are your balances above or below 30% of the credit card limit? If so, by how much?
  • Is the interest rate on any of your cards above 17.67%? That is the current average APR (average percentage rate) on all credit cards as of the date of this post. To check the current average credit card APR just Google it.
  • Are you paying more than the minimum payment each month? If not, start doing that even if the balance is below 30% of the limit. The goal is to pay as little interest to the credit card company as possible. That’s money out of your pocket.
  • How long will it take you to pay that card off using your current average monthly payment? To determine this use this Credit Card Interest Calculator 

If your balances are 30% or more of the limit establish a plan to pay them down. Stop using the cards until you have accomplished that goal. Then once you start using them again keep the balances under 30%.

What If Your Balances Are So High You’re Getting Eaten Alive by Interest?

If the balances of your cards are out of hand and you can’t afford to make more than the minimum payment then you need to get out of that card. How do you do that? By looking for offers to transfer that balance to a new credit card that gives you a year or more interest-free!

This is a great strategy because it will give you a year to make payments that are applied completely to the principal balance. That means every dollar pays down the balance. This could give you the opportunity you need to pay down or pay off that card!

To find offers for transferring balances on existing cards visit No Interest Transfer Balance Credit Card Offers

Conclusion- Use these quick and simple steps on how to use credit cards to build your credit score.

If you have credit cards pay attention to how you’re using them and play the credit game as well as you can. If you use your credit cards correctly you can impact your credit score significantly.

If you have negative accounts on your credit report we can potentially get them removed for you. For more information visit Credit Repair.

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.
“That is the only email you’ll get from me and I do not distribute my subscriber’s information”. – Dale Guiducci 

<img class="blog_post_image" src="https://secureservercdn.net/166.62.107.20/xnm.7ae.myftpupload.com/wp-content/uploads/2019/04/how-to-use-credit-cards-to-build-credit-score-625x415.jpg" alt="How to Use Credit Cards
to Build Credit Score" />