Is It Time to Hire a Credit Repair Expert? Here’s What You Need to Know!

Hey, Credit Heroes, when does your credit score need to be repaired? What is the right time to hire a credit repair company? Well, today, I'm going to answer those questions and a whole lot more. So you better stick around. 

So the big question is this, how can we take our passion for helping people with their credit and turn it into a successful business without taking loans without spending a fortune by bootstrapping it from nothing? So we can help the most people and still become highly profitable? That is the question, and this podcast will give you the answer. My name is Daniel Rosen, and welcome to credit repair business secrets. If this is your first time listening to my podcast, every week, I give credit repair tips and advice on bootstrapping your business from nothing. So be sure to click subscribe now and get ready to start changing lives. 

Okay, let's get into this. Every year, millions and millions of Americans struggle with low credit scores. Most people only realize that they have a low score after they apply for credit and get denied and are left scrambling to try to boost it. It's estimated that 25% of Americans don't know their credit score or even how it's calculated. But if you're one of those people don't be embarrassed. The credit system is extremely confusing. And that's by design. And most of us were never taught how it works, or how it impacts our lives. So today, I'm going to level the playing field and I'm going to answer two of Google's most frequently asked credit questions, when do you need credit repair? And when should you hire a credit repair company? Here's how this relates to us. For those new to credit repair. The first step to long-term financial health is knowing your credit score, and understanding how you got that score. If you don't know your credit score, or if you've never reviewed your credit reports, you can get a free copy of your report from each of the three major credit bureaus once a year at annualcreditreport.com. That being said those credit reports that they provide for free, do not include scores. So if you want your credit reports plus scores from all three bureaus, you can get all three for $1. Instantly when you sign up for a seven-day trial of credit hero score at creditheroscore.com. 

In most cases, people seek out credit repair because a low credit score is preventing them from qualifying for a car loan or a home loan. The problem with having a low credit score is that it's both the result of financial difficulties and the cause of more that can hurt your financial standing for years or even decades. That can make it challenging to be approved for loans or credit cards or even jobs. Credit scores can drop for countless reasons, including using too much credit or not enough or miss payments, fraud, or credit bureau errors. It's important to remember that 79% of credit reports contain errors that can hurt credit scores. Those errors can range from incorrect personal information to incorrect reporting of debts and credit histories. However, no matter what the cause is of the low credit score, it must be repaired as fast as possible. 

But what does repaired mean? Well, here's the thing to remember, when it comes to credit scores higher is always better. But there's not one universally agreed-upon score that everyone should be targeting. Everyone has different financial circumstances and different financial goals. Whether you're repairing your own credit, hiring a credit repair company, or maybe you're a credit repair professional, you need to understand the relationship between a person's credit score and financial goals. For example, this question was recently asked in our credit repair cloud Facebook community. If a client starts with a credit score of four at What score do you stop fixing their credit?

Well, that depends on the client's larger financial goal. If they were denied something like a home loan, they would need to raise their 480 to at least the mid-six hundred to get approved. However, a credit score of 740 could help them to pay a lower initial down payment on the house and a score of 760 would probably qualify them for the very best rates from lenders and could save them 10s of 1000s of dollars in long-term interest. As I said, this is a confusing system. And as you can see, it's kind of subjective, but according to FICO representatives and scoring models, any score under five ad is classified as poor or extremely risky, and there'll be treated unfavorably by lenders and anyone with a score in the eight hundred will be considered a sparkling applicant by lenders. So step one, learn your credit score. Step two, determine a target score based on the goal associated with it. Step three, decide if you're repairing your credit yourself, or hiring a credit repair company. 

Here's why this is important. Credit Repair can be done by yourself because like, you can fix your own car, you can cook your own food, you can even do your own taxes. It just requires time and dedication, but you'll have better credit and a valuable new skill set at the end of the process. In fact, most of our Millionaires Club members started by repairing their own credit first, and then they decided to help their friends and family do the same. And eventually, they turn their skills into a profitable business. If you don't have the time or dedication to do it yourself, call a professional. Your credit score is too important to wait until you're ready to fix it. The lower your credit score gets, the higher your need to prioritize repair. So how to choose a credit repair company? Well, here's what you need to know hiring a credit repair company may seem intimidating, but it's actually very simple. 

There are five things to consider when hiring a credit repair company credentials. A reputable credit repair company will provide state licenses, industry certifications, and other completed training verification to prove that they have the knowledge and skills to provide quality service reviews and testimonials. A transparent credit repair company should have reviews and testimonials on several sites like Facebook, Google, maybe their own site, and maybe Yelp collects a mix from different sources to get a general picture of their quality of service. But don't weigh one review too high over the rest. If you've ever visited Yelp, you know, some reviewers are crazy fees. Different credit repair companies charge fees in different ways. So review the specific services that you're paying for and the fee structure before you sign anything, and make sure you get the most bang for your buck expectations. A credit repair company's job is to dispute and remove inaccurate or outdated information from credit reports. A reputable company will establish clear expectations early they'll explain your personal dispute strategy and they'll set realistic timelines to reach those goals. Be very cautious of credit repair companies who promise unbelievable results overnight. What those guys are selling is magic be communication. A credit repair company might have a few clients or a few 1000. Either way, customer service is key. Credit Repair can take months or years depending on the circumstances. So make sure the company has a communication style that you're comfortable with. Whether it's weekly email updates, monthly in-person meetings, etc. If the company checks all those boxes that it's time to hire them, you'll need to fill out an application and explain your credit history. The company will review your credit report, identify the items that can be disputed, and then start filing disputes on your behalf. The credit bureaus will investigate those disputes and respond based on the circumstances and remove any inaccurate or outdated items from your credit report. And then you can just sit back and watch your score improve. 

Okay, I covered what customers should look for in a credit repair professional. Now for a quick bonus, I want to let professionals know what they should look for in potential Credit Repair customers. Three things credit repair professionals need to know about customers' goals, each credit repair customer has a different goal. So take the time to learn their goals and create a personalized plan to help them to achieve though it'll make them better active partners in their credit repair process. communication. Communication is a two-way street. Every customer wants to be treated like a priority. So keep them informed with updates or changes to their plan and be open to answering questions or concerns and expectations. If a customer thinks you can boost your score by 400 points in one day because they saw it on tick tock. You need to reset their expectations, establish new ones or wish them well because you can't help them. Here's my final point. Whether you do it yourself or you hire a professional either way, you still play an essential role in your credit repair process. process. So keep an eye on your scores. And if you see them drop, choose a path and act quickly. 

And just a reminder, this podcast is brought to you by credit hero score. Credit hero score is the only credit monitoring service that integrates directly with the credit repair cloud get instant access to your credit reports and scores by signing up for a seven-day trial for only $1. Sign up right now at creditheroscore.com. 

And now for my favorite part of the episode. Every week I feature one of our credit heroes inside our credit repair cloud Facebook community so that you can see firsthand what real people are doing as they run and grow their businesses. And today's spotlight is on Andre Martinez. Andre recently left an inspirational message in the community saying they got their CSO registration done for their company, that credit lady, they're bringing on four new salespeople, and they are driving leads. But more importantly, Andre added been selling credit repair for seven years, started homeless for 18 months with a 390 score found credit repair, and changed my life. Thanks for the acceptance here. No, Andre, thank you. I'm so glad that you feel accepted in our community. And it's amazing how far you've come. And I can't wait to see how far you'll go. 

And I'll end by saying, if you still need a credit repair Cloud account, check it out. It's software that most credit repair businesses in America run on. Just sign up for a 30-day free trial at creditrepaircloud.com/freetrial. And if you'd like to change lives and grow your very own credit repair business, check out our credit hero challenge. It's a live experience that has helped hundreds of credit heroes to get certified in disputing and gain confidence as they run their credit repair business on a solid foundation. So they can change a whole lot of lives and make a great living in the process. We're starting the next challenge very soon. So you want to join before the doors close, or you're gonna have a long wait until the next one. So sign up right now at creditherochallenge.com. If you're finding value in the things that I share on this podcast, click below to subscribe and follow. Also, give me a five star review or share the show and help me to change more lives. If you'd like to read the show notes. They're posted on my blog. If you have a question or a comment, drop it down below because I read each and every one of them, and I would love to hear from you. And I'll respond as soon as I can. If you want to learn more credit repair secrets and turn those skills into a profitable business, check out my episode DIY credit repair. So take care credit hero and keep changing lives. 

Hey everybody, it's Daniel again. And really quick, I'd like to invite you to join what I believe is the best thing we have ever created inside the credit repair cloud community. And it is a challenge that we call the credit hero challenge if you're just planning out your business, or you're just getting started, and you dream of having a successful business of your own. So you can quit your nine-to-five and fire your boss and have financial freedom or so you can add another revenue stream to your existing business. If that's your dream, you need to get into this challenge. We created this challenge to help you to create and launch your very own credit repair business to build a proper foundation for a really successful business. This challenge is going to help you to understand the strategy, the tactics, and all the things you need to be successful at credit repair. It really is the greatest thing we have ever built, and it will change your life. So I recommend you do it right now. Stop everything pause this audio go online and go to creditherochallenge.com That's creditherochallenge.com and join the next challenge and there's a challenge that starts in just a few days. So go get started right now at creditherochallenge.com