Business opportunities exist around every corner in the entrepreneurial world. There are thousands of niche markets to choose from whether you’re a marketer, a consultant, or a retail outlet. When you want to start a business, how do you know which niche is right for you?
Credit repair specialists solve big problems
The most successful businesses solve big problems, and the biggest problem facing consumers today is debt. By becoming a certified credit repair specialist, you’ll be helping consumers restore their peace of mind.
There’s something in it for you, too
When you become a credit repair specialist, you’ll learn how to negotiate with creditors and build your own personal credit. You can help yourself the same way you can help your clients; it’s a win for everyone.
Consumers are in trouble and need your help
Due to the growing amount of U.S. consumer debt and foreclosures, credit repair specialists are in high demand.
Consumers are facing rising interest rates and falling behind on payments, leading to foreclosures and charge offs. Many Americans have no choice but to take on more debt to survive, since salaries aren’t rising equally to meet the cost of living.
According to statistics gathered by Nerd Wallet, the average household is $16,000 in debt and pays $1,292 in yearly credit card interest. The total amount of debt owed by American households is expected to exceed that of the great recession in 2007. The only difference is that in 2007, the debt was from credit cards. Today, it’s from mortgages and student loans.
You’ll be leading consumers out of confusion
The credit reporting system is confusing. Nobody seems to know exactly how credit scores are calculated, and the report consumers see isn’t the same report their creditors see. Many people don’t know why they’re not being approved for loans, and the more they apply, the more rejections they receive.
“ The road to credit repair is full of questions and misconceptions,” state representatives at Lexington Law – one of the oldest and greatest names in credit repair. “Earning a better credit score means fixing past problems, enforcing good habits and separating fact from fiction. ”
You can clear up consumer misunderstandings
There are many misconceptions about credit that cause consumers to make bad choices. By clearing up these misunderstandings, you can empower consumers to take the right actions toward cleaning up their debt.
For instance, charge offs are often misunderstood. A charge off isn’t forgiven debt. A debt is “charged off” when the company determines the debt isn’t likely to be paid. This way, the money doesn’t sit on their ledger as expected income, but the debt is still owed.
A charge off is one of the worst things to have on your credit report because it tells lenders they’re not likely to get their money back.
As a credit repair specialist, you can help your clients remove inaccurate charge offs from their credit report, and help them clean up legitimate ones. You can also teach them ways to prevent current bills from being charged off.
Another common misunderstanding involves the reason credit scores drop each time a consumer applies for credit. The credit bureaus aren’t trying to punish you for taking out credit. Lenders see this as a sign that a person might be living on credit and shuffling around their debt.
You’ll be an advocate for your clients
Americans in debt need someone to negotiate with creditors on their behalf. As a credit repair specialist, you can help people navigate one of the most challenging aspects of their financial lives.
Take the first step to become a credit repair specialist
There’s much to learn, but you don’t have to learn on your own. This credit repair summit is one option that provides you with the training you need to be successful and effective. The summit is led by experts in credit repair and marketing; it covers topics ranging from laws and disputes to sales pitches and training.
There are plenty of other training options, but the credit repair summit allows you to learn from the comfort of your own home.
If you’re looking for a way to combine your desire to help others with your passion for building a business, becoming a credit repair specialist will be a perfect blend.