A professional credit business assists loan originators and their consumers in combating the defense strategy of attrition and delay the credit bureaus issue. By removing inaccurate and unverifiable negative information from a consumer’s credit report should not only improve their credit picture but also assist the loan originator with their production as well.
Before you start a credit business, there are many guidelines that an astute entrepreneur is going to want to follow to ensure they are starting their company the right way. A great start would be to research the Credit Repair Organizations Act, Fair Credit Reporting Act, Fair and Accurate Credit Transactions Act, and other laws designed to protect consumer rights pertaining to the credit industry. With the proper training, software, and diligent work ethic and by accruing a knowledgeable and hard working staff to enlist affiliates and enroll clients, a credit business can be a very fulfilling and lucrative entity.
Your staff will need to know what they can say, what they can’t, how to present the service and your company’s fees, and how to properly handle a client support call throughout the entire process. Handling a client support call can easily be seen as almost or just as important as closing the deal initially. A happy and satisfied client will refer your business to their friends, family and referrals from active and alumni clientele close at a much higher closing ratio.
By providing your sales staff with an initial and post closing sales pitch, an interactive software system to document the sale or support call, and a dedicated Account Executive who will help you to ensure your business is compliant within the parameters of the law. This is imperative to making your business opportunity a success and to continue to enroll clients and enlist referral partners every month.
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