6 Essential Things You Need To Start a Credit Repair BusinessEveryone has daydreamed about being able to work from home at one point or another, but most don't know how this can be accomplished. One of the easiest ways to become your own boss and make a fast, reliable income is to start up your own credit repair business. Millions of Americans are in need of rebuilding their credit, and when you are armed with the right tools, you can help them to accomplish their goals while becoming a successful entrepreneur. In order to get started, here are six things that you should have before starting up your own credit repair business.

1. Credit Repair Knowledge

There are countless websites devoted to helping individuals work on fixing their credit and FICO scores on their own. Because of this, you will need to educate yourself on every facet of credit repair in order to have the upper hand and be able to provide your clients with information that they didn't already know. You can begin by examining your own credit report and becoming familiar with what it looks like, and the differences between the three major bureaus. Be sure to read through the Fair Credit Reporting Act and consider reading books on credit at the library. Lastly, it's smart to contact the credit bureaus to learn how the disputing process works.

2. Time management skills and tools

Time is money, and the more time that you spend on sending out dispute letters, chasing down signatures, and answering phone calls, the less profit you will be making from each customer. By using automated dispute letters, drafted by attorneys, communicating with your clients online, and utilizing "e" signatures, you can save a significant amount of time.

3. Your own web portals

In order to look professional, it's important to set up your own website, complete with portals for your clients to access. By providing each of your customers with their own portal login information, they will be able to quickly see the progress that you have made, respond to any correspondence from you, or contact you with questions.

4. A simple means for tracking progress

You clients will certainly be interested in regular updates with regards to the progress that has been made in deleting negative "hits" to their credit scores and the disputing process. Without an organized tracking system, you will find yourself shuffling through files and searching all over creation for the information that your customers need. When you have a system in place that provide you with easy access to all required data immediately and in a way that is easy to read and make sense of, you will save time and leave your clients feeling satisfied.

5. Purchase a great software

There are many options for home-based credit repair businesses with regards to credit repair softwares, however, some are better than others. A good software program will be able to assist you in all of the above mentioned steps and much more. Your software should make the process of communicating with clients, accessing information, processing disputes, and tracking progress as simple and efficient as possible. Finally, select a software that will encourage your professionalism by providing you with customizable options such as your own logo and website address.

6. A marketing strategy

Once you have all of your other ducks in a row, all that is needed is to let the world know that you are available to help them fix their credit. It's easy to create and produce your own business cards and flyers from home. Check with local businesses, churches, and schools to see if you can post your flyers there. You may also consider posting an ad in your local paper. It's smart to offer your friends and family your services for free in return for reviews and recommendations to post on your website, or to be posted on services like Yelp! Lastly, consider hosting seminars or classes on credit or debt management. This will display your knowledge and provide you with an opportunity to sell your services. Talks at local colleges or high schools can also be effective, as these students will go home with your information and could make their parents your next clients.

Chase Sagum is a blogger covering Financial topics specifically Credit Repair, around the web.