Possibilities of a credit repair business!!!

Discussion in 'Credit Talk' started by sarah, Sep 21, 2008.

  1. sarah

    sarah New Member

    Hi all, what are the possibilities of running a credit repair business and how is the business run. What are the legalities and formalities involved in that so that one can make the arrangements to start his own credit repair business?
  2. jjgross

    jjgross Well-Known Member

    Unless you have a knowledge of the fcra,fcdra,and the cra's it would be rather hard to have sucess.Because you can't be 100% sucessful.
  3. jlynn

    jlynn Well-Known Member

    Besides the laws mentioned above that you need to be extremely knowledgeable of, then there is the CROA that tells you how you must run your business.

    Its full of landmines.
  4. pd11604

    pd11604 Well-Known Member

    Bill Bauer where are you?
  5. apexcrsrv

    apexcrsrv Well-Known Member

    I wouldn't wish it on my worst enemy. It's not as easy as it seems.
  6. apexcrsrv

    apexcrsrv Well-Known Member

    You can also get sued under the CROA too if you don't know exactly what you're doing.
  7. Hedwig

    Hedwig Well-Known Member

    Isn't it amazing how people think they can read a couple of web sites, read the FCRA and FDCPA and start charging people?

    Just because more people are having credit problems doesn't mean it's going to be easy to make money repairing credit.

    Especially when you get sued and lose more than you ever made.
  8. CTF388

    CTF388 Well-Known Member

    It's happened before. Just ask around.
  9. jjgross

    jjgross Well-Known Member

    Thank you hedwig for every good service there's 10 bad ones.
  10. apexcrsrv

    apexcrsrv Well-Known Member

    I'd agree with the above and we're in the business. Of course, there are numerous consumer errors during the process that destroys or mitigates even a good CSO's efforts on half the occasions.

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