Hi all, what are the possibilities of running a credit repair business and how is the business run. What are the legalities and formalities involved in that so that one can make the arrangements to start his own credit repair business?
Credit repair business is one of the businesses that have gained wide exposure and it has been adopted by people and running in good terms too. There are quite good possibilities of starting a credit repair business and one has to be only properly guided to take steps in the right direction.
check out the CROA laws- Credit Repair Orginization Act, laws that the FTC has been cracking down on since last week, "Operation Clean Sweep' started on 10/23/2008, and will start cracking down even heavier since the FTC redflag went into effect on November 1, 2008 (6 mts extentsion though till May 1,2009). CROA basically states that a credit repair company CANNOT charge a fee $$$ upfront for repairing someones credit. It is illegal to charge someone upfront for credit repair services unless you are a : 1)non-profit 2) a bank, credit union, or other institution insured by the FDIC. Also cannot promise or guarantee that the company can take negative items off someones credit scores.
quote:Originally posted by Aldrich
Hi all, what are the possibilities of running a credit repair business and how is the business run. What are the legalities and formalities involved in that so that one can make the arrangements to start his own credit repair business?
Possibilities of a credit repair business!!!
Posted - 09/10/2008 : 10:29:25
