Debt Management or Settlement is only half of the equation in solving your clients’ debt problems. If you want to be a top debt company you need to offer the complete solution. Part of that solution is repairing the damage that debt resolution does to a client’s credit report.
This is why I recommend building a strong referral relationship with a credit repair company. This relationship is sure to be a strong base of referrals.
Often consumers are confused as to what to pursue first debt repair or credit repair. As a result they are likely to end up at one or the other. Ideally, whether you are a debt settlement or a credit repair firm you will have established a partnership with the complement.
If you are in the debt settlement business:
You will certainly impact the client’s credit report. The methods you use, although critical to getting a client back on their feet, are not something creditors like doing. The natural result–lots of derogatory information showing up on that happy client’s credit report.
So, if you want to create a really happy client you will need to help him with the FICO score clean-up. And that is a different animal from debt repair.
If you are a credit repair business:
You are going to get a lot of people that want help repairing their credit, but really are in a debt crisis. So, regardless of how good you are at credit repair they, with their debt management problems are going to quickly unwind your efforts.
If you want to be successful in making clients happy and productive with their credit reports you need a strong debt management partner.
Here are some great referral partners:
Credit Repair -Credit Advisory Alliance
Do you know of other great credit or debt repair companies that I can recommend to clients as partnership opportunities?
