I am located in NY, and would like to help people fix their credit problems for a fee, how do I get to know all the requirments to open up a bussines like that?
2006-08-27 06:19:50 · 6 answers · asked by Anonymous in Business & Finance ➔ Credit
1. Find out your states laws for credit repair organizations, since you would be classified as one.
2. Get your licensing and bonding.
3. Learn the FDCPA.
4. Learn the FCRA.
5. Learn the FTC (and all of the opinion letters)
6. Learn your states statutes.
7. Learn federal statutes.
8. Learn how to deal with original creditors.
9. Learn how to deal with collection agencys.
10. Learn how to deal with the credit bureaus.
11. Learn how to write 'all' of the necessary letters.
12. Know what constitutes violations.
That should do for a start.
AND I'm not joking around with what I've listed. What I've listed MUST be done if you plan to charge people money to repair their credit.
edited to add:
Just from going by your answer to someone - learn that a paid negative is just as bad as an unpaid negative - even if it does say settled.
2006-08-27 08:14:29 · answer #1 · answered by echo 7 · 0⤊ 0⤋
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2006-08-27 13:34:21 · answer #2 · answered by Anonymous · 0⤊ 2⤋
First, this is more likely considered as a scam than a legal business. Now a day, everyone can legally dispute errors on the reports, it's not legal to try remove correct infos on reports. You still can do it, but it's not a guarantee and it's not easy.
Lastly, it's not cool to take advantage of others for their lack of knowledges and infos.
2006-08-27 13:39:13 · answer #3 · answered by nhan_andy 2 · 0⤊ 0⤋
If you don't know then you are not qualified. Go to work for a company that does credit repair and learn the business.
2006-08-27 13:26:40 · answer #4 · answered by Barkley Hound 7 · 0⤊ 0⤋
I have no idea. I can tell you that I will keep telling anyone who asks on this site not to waste money on your services. They can do everything you can on their own.
2006-08-27 18:34:52 · answer #5 · answered by STEVEN F 7 · 0⤊ 0⤋
Learn how to spell "business".
2006-08-27 13:25:40 · answer #6 · answered by stevewbcanada 6 · 1⤊ 0⤋