With new governmental policy coming into place the credit repair industry should most likely see a surge in retail activity. While you will want to focus on your success and influence this event into prosperous times, please make sure that remaining a strong level of ethical and legal compliance remains your focal point.
As we all know our industry has previously come under attack and in some cases well deserved. Those who are in currently in the mortgage industry can certainly see what it is like to be stained by those with unscrupulous motives. Make sure all those who are handling the clients before, during, and after their enrollment are trained fully in abiding within the parameters of the law and not putting any clients into a place of financial hardship or doubt their commitment to their credit repair process.
This is the time for us to shine tremendously and help those in need of a better credit history and show how we are honorable and legitimate organizations dedicated to assisting clients with a poor credit history and assist in achieving their goal of home ownership. Mind you that all clients should go through AT LEAST a basic risk assessment to see if the service can benefit them.
Make sure the client has at least six months since the date of last activity, they can afford their bills, and they can afford your services. If they meet these three requirements then they should be a great candidate for the credit repair process. Not only will this in assist in ensuring your compliance but should also significantly increase your fix/delete ratio.
You will want to prepare your clients BEFORE they enroll for the possibility of extended enrollment. This can be achieved by properly explaining the multiple aggressive tactics it will most likely take to go around the stall tactics and seemingly endless defense strategy of attrition and delay the credit bureaus utilize.
When advising your clients on how the service works make sure not to over-exaggerate the expectations an average client will typically come to see. Under promising and over delivering will almost always make certain a client is satisfied, which in turn means more referrals, which means more profit. View your company as it should be ... as a steadily increasing and self feeding entity with limitless potential.
I have high hopes and an unwavering confidence that we will be able to not only achieve profitable enterprises, but also to bring our industry into a better light and endorsed openly by those in the loan origination industry, the mainstream media, and hopefully soon, the US Government. Stay motivated, compliant, and hungry and there is no doubt we will achieve happiness and success!
Brian C. Aber
Senior Account Executive - HTDI Financial