Essential Credit Facts You Need To Teach Your Clients
When it comes to credit repair, most people know that they need a good credit score to obtain a new car or home on a loan. But, there’s much more to credit repair than that.
The world of credit repair can be confusing to your clients. Here are some important credit repair facts that credit repair professionals must inform their clients:
Credit Report Vs Credit Score
A credit report is a financial report reflecting an individual’s financial situation. The credit score is included in the credit report.
Credit repair companies can get a free copy of a client’s credit report (once a year) from each of the three major credit bureaus —Experian, Equifax, and TransUnion.
Repairing credit means improving the information on a credit report that determines a person’s credit score.
To fix bad credit, a credit repair company checks a client’s credit report for errors. Having good credit can increase a person’s chances of qualifying for a loan at the most favorable rates.
Business Credit and Personal Credit Are Not The Same Thing
A client’s personal credit history is different from their business credit. As the term applies, business credit is credit for a business. On the contrary, personal credit is linked to an individual’s personal debt and expenditures. It has nothing to do with business accounts.
Improving Credit Requires Changing Spending Habits
Many individuals go through credit repair to improve their credit situation. However, many find themselves back in the situation due to their spending habits.
In order to maintain a good credit score for a long time, it is imperative to adopt sound spending habits. In other words, clients must pay their bills on time every month, borrow less or only what they can afford to pay back and control their spending.
A Credit Repair Company Can Improve Bad Credit
While some people prefer DIY credit repair, a reputable credit repair company can help clients fix errors in credit reports and improve their scores quickly.
If you are a credit repair business looking for software, check out Credit Money Machine.
Developed by CRMRUS, LLC., Credit Money Machine is a home-based credit repair software for resolving credit repair issues. Available as Credit Money Machine Cloud and Credit Money Machine Pro Plus, the credit repair systems can simplify and streamline management of home-based credit repair businesses.
Credit Money Machine Cloud is entry-level software, while Credit Money Machine Pro Plus is suitable for small to large credit repair companies.
