The issue with almost all home businesses is that they are either too expensive to start, take too long to start turning a profit, or have a “learning curve” that is either too steep or takes too much time for the ordinary person to complete.
Even worse, many offers for home businesses that you come across in periodicals, your mail, and online are blatant scams.
However, that does not mean they simply take your money and fail to provide the goods.
They provide the product just fine; it’s the product itself that falls short.
Because the “program” for a home business was created to profit the vendor, NOT the customer.
But there are legitimate ways to generate money from home that don’t break the bank and can be rapidly acquired with minimal time and effort.
One such enterprise is the credit repair industry.
The fact that there are expensive companies and attorneys who practice it and bill thousands of dollars for their services may be the reason why the phrase “Credit Repair” seems daunting to some people.
But it doesn’t imply they accomplish something the normal individual, with the right information, couldn’t accomplish themselves.
Furthermore, it does not imply that credit repair cannot be conducted from a home office without a large staff.
We should explain something before moving forward.
The credit histories of hundreds of thousands of Americans are first kept on file by three major agencies in the United States.
Experian, Equifax, and TransUnion are the “Credit Bureaus” that make up these organizations.
They are private organizations that are a billion dollar industry with no ties to the US government or any other government.
Would you like to obtain a mortgage?
Your credit history will be checked by your lender with one or more credit bureaus.
Additionally, he will be informing the organization of your payment history once you have received your loan.
You’ll also be given a “credit score” based on the details in the credit bureaus’ records, which lenders use to assess your credit eligibility.
Contacting the bureaus in an effort to raise a client’s (or your own) credit score is part of the credit repair business.
There are only a few easy steps to the procedure, so it’s actually not that difficult.
Get a copy of the client’s credit report from each of the three bureaus.
Online at http://www.annualcreditreport.com, this is a simple process.
Send letters to all three credit reporting agencies challenging inaccurate information.
The bureaus are then required by law to either delete the disputed information or verify it with the original creditor within 30 days.
The consumer must then be informed of their findings, and they must also deliver a copy of the updated credit report.
Examine the updated reports and keep disputing new negative things after the credit bureaus respond.
Perhaps you’re asking, “So, is that it?”
Well, even though this explanation may be a little too straightforward, the usual response is “Yes, that’s it!”
There are several legal issues you must take care of if you offer credit repair services for a fee in order to stay on the right side of the law.
For example, some states demand that you have a bond or license.
Additionally, you must let clients know about their legal rights and offer them three days to change their minds if they choose to accept your services.
But even as a home company owner, you can complete these steps.
They’re meant to safeguard the customer, and generally speaking, every moral businessperson should adhere to them.
So why do agencies charge thousands of dollars for their services if it’s so straightforward?
Because they can get away with it, quite simple!
The majority of individuals simply don’t realize how simple the process is or think they can do it on their own.
Credit repair isn’t for you if you want to build a home business that will instantly make you wealthy with no work required.
But then again, nothing else is either.
If you don’t adopt more reasonable expectations, you’ll continue to lose money on the home business “programs” we previously stated.
But you might want to give credit repair a deeper look if you’re willing to put some time and work into a viable home company.
It offers all the advantages compared to just about every other home business.
Nearly one in three Americans have some sort of credit trouble, so there is a tremendous need for it.
It’s also one of the easiest to learn, least expensive, and fastest to start up, and you can make some very, very nice money.
You can decide whether to work on it full- or part-time.
Your decision is entirely up to you.
You must first complete two tasks in order to begin.
Get a decent book on credit repair procedures, and spend some time getting acquainted with them.
Study the laws governing credit reporting and credit repair businesses, particularly the “Fair Credit Reporting Act” and the “Credit Repair Organizations Act.”
Online research can be done for both.
Finally, you’ll feel good knowing that you’re assisting those in need once your home business has been established and credit repair has started.
Additionally, you may charge them substantially less than the major agencies and STILL make a very comfortable income.
Everyone benefits from such condition, with the exception of the credit bureaus and expensive repair companies.
It makes you feel nice, doesn’t it?