Canadian Credit Repair - I want to set up a credit repair business? Can I do this? - Canada

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RE: I want to set up a credit repair business? Can I do this?

Postby patrob69 » Fri Mar 12, 2010 11:28:36 AM

Why can't you bring the creditors to small claims court? If they are negatively impacting your credit score you can sue them for financial loss and defamation among other things.
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RE: I want to set up a credit repair business? Can I do this?

Postby dbaker@newstartcanada.com » Sun Feb 07, 2010 03:40:16 AM

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RE: I want to set up a credit repair business? Can I do this?

Postby montyloree » Sat Feb 06, 2010 06:37:17 AM

I'm game....
What's your email address? :)
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RE: I want to set up a credit repair business? Can I do this?

Postby dbaker@newstartcanada.com » Sat Feb 06, 2010 03:41:22 AM

Monty,we should talk.I am looking for someone to do coaching.One on One.Nothing fancy, just affordable.I am a lender who wants to change lives.I am currently overwhelmed with people needing my money but these same people need a money coach.I am no expert just a guy that has lent almost 100 milion dollars to the unbankable over my thirty years of doing this.There are all kinds of fancy web based sites poping up but what people need is simply a coach who will proactively reach out and keep folks on track.
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RE: I want to set up a credit repair business? Can I do this?

Postby montyloree » Fri Feb 05, 2010 07:55:19 AM

Not only that... the legal system doesn't work the same..
you can't small claims things like they do in the U.S...

Consumer protection works as a mediation system... there's just no teeth to that.
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RE: I want to set up a credit repair business? Can I do this?

Postby RichardC » Fri Feb 05, 2010 07:46:14 AM

I found the same thing Monty. Credit repair just isn't a feasible business model in Canada. Best thing for people to is offer the knowledge as a free bonus to supplement their existing business.

The problem is, you can't collect a fee for the service unless you can prove your work resulted in an improvement in credit and time spent vs. cost doesn't add up to value for the client.

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RE: I want to set up a credit repair business? Can I do this?

Postby montyloree » Fri Feb 05, 2010 06:51:37 AM

Thanks Eleanor... I've already started a credit repair business in Canada.. but had to close it down as it wasn't profitable...

This site is an extension of my efforts to help people with their credit.
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RE: I want to set up a credit repair business? Can I do this?

Postby elenor52 » Thu Jan 14, 2010 10:19:22 AM

Sure you can. You are a smart person andyou would take care as if it were you.

I would trust you anytime.
Go for it.
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I want to set up a credit repair business? Can I do this?

Postby montyloree » Sun Jan 10, 2010 05:33:18 AM

This fellow has a mortgage company and wants to start a credit repair business. Oyy... these are two different things altogether.
The problem with this scenario is that they're two completely different businesses. The mortgage business would ultimately benefit from the credit repair business.

For credit repair, you need to know laws, government, and how to fight in that arena.

My recommendation for this guy is just to find a good credit repair company, and deal with them directly... He would save alot of headaches.

http://dengruo.info/201001/starting-a-credit-repair-and-financial-counseling-business/

« If You Were Serious About Withdrawing From Occupied Land, Would You Build Settlements For Your People There?
Given These Wants, What Is The Best Online Broker? »
Starting A Credit Repair And Financial Counseling Business?
By a day trader | Published: 2010/01/10

I currently work as a mortgage broker who specializes in bad credit loans. I have helped many of my clients understand their credit reports and what they can do to improve their credit.
I love this part of my job, am good at it and would like to turn it into a source of income.
I would like to take a credit repair client, obtain their credit reports and explain the information contained in them in detail. I would give recommendations about what they can do to raise their score and a detailed step by step plan of action. For an additional fee, I would dispute incorrect items on their behalf.
I plan to keep my prices low and offer honest, realistic advice specific to the individual’s situation and goals.
What certifications or licenses do I need to start a business that does this?


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