Anyone can be faced with high credit card debt and/or personal bankruptcy due to periodic slow economic times leading to layoffs or unexpected illnesses and personal crises. Even worse is when your credit suffers due to an identity theft or an unresolved credit dispute. A credit consultant is a financial expert who can assist her clients in taking the steps needed to restore their credit and become solvent again.
In this service you offer credit counseling and take steps to restore the credit of your customers. Requirements for credit repair agencies fall under the Credit Organization Act. Not all states have this law, however, and legislation differs state by state.
Start-Up Costs
$3,000 to $12,000.
Pricing Guidelines
Prices can vary when operating a credit consulting business. To assist clients with their credit reports, you can charge a flat fee, such as $350 to $650, to cover your entire service, or charge a certain amount for each credit report you handle, perhaps $100 + per credit report. There are three major credit reporting agencies. A married couple has separate, individual reports, which would total six reports. It is advisable to give a discount to a married couple and charge $450 +, for example.
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