Posts Tagged ‘The Profile of The Credit Repair Customer: Part 5’

The Profile of The Credit Repair Customer: Part 5

Posted by Joel pate in Uncategorized. Tagged: , , , , , , , , ,

Previously discussed:

This week:
This is the right time to understand that very few consumers want credit repair. Most credit repair customers want to purchase something and because of their past credit history they are not able to qualify. Thus, if you provide a service, even a great service, and are able to cause the Credit Reporting Agencies remove many, even all, of the incorrect and unverifiable items, because the accounts are not verified by the credit bureaus or data furnishers, the presence of even one recent 30 day late could disqualify most applicants from many loan types.If you have violated the principles of this document and have taken on the wrong customer, you will find, in too many cases, that this denial will result in the consumer blaming you for not delivering the “Service” regardless of the fact that you can demonstrate deletions or corrections. Why? People with bad credit seem to want to blame someone and in this case it will be you. The next step of course is a complaint to a regulator or the BBB. Remember the cost of responding to a regulator will far outweigh the income from ANY customer.A regulator’s job is to find fault with your business. Since even the best run organization has a flaw on some days, it is best to diminish the chance that it will be the day that the regulator shops you.

The moral of the story is to tell a customer under current financial strain that now is not the time to repair their credit. Keep this consumer on a drip campaign and approach in six months.

Part 6 coming next week.

PS: Join our weekly industry webinar series as we discuss the best practices to grow and increase the profit of your business. The Jump Start Business Building webinar is held each Thursday at 3 PM CST, so register now: