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LEARN HOW TO START, RUN, OR GROW YOUR CREDIT REPAIR BUSINESS

Should you ever REJECT a credit repair client?

By: Daniel Rosen April 05, 2022

There’s an old business cliche: “The customer is always right.” While that is true most of the time, sometimes the customer isn’t always right…for your business. But how do you know when it’s not a good fit? 

How do you spot a problem client? 🚩🚩🚩

When should you say NO to signing a client? 🚫🚫🚫

Should you EVER say no to a potential client? 

Are credit reports EVER too far gone? 😷😷😷

Is it ever worth turning down a sale (what’s the risk of chargebacks, collections etc…)? 

These can be hard questions to answer yourself… 

So that’s why I’m sharing EXACTLY when you should turn away a client in this podcast!

 

Alright, so you’ve obsessed about growing your credit repair business. You’ve poured all that you have and more into making this dream a reality. You’ve set a good foundation and even started marketing to get leads. And what’s even better is - it’s all working! 

You’re getting a ton of people to reach out to you and ask about your services!

As leads flow in, you begin to sign up new clients, causing your monthly recurring revenue to increase and with each passing day you just KNOW it’s only a matter of time before you’ll join our Millionaires Club and start living the life you’ve always wanted.

And because of that, you feel it only makes sense to seize every possible opportunity that comes your way and to close every possible deal so you can scale your business as fast as humanly possible.   

There’s just one problem... 

As a Credit Hero, determined to change a ton of lives, the vast majority of people that inquire about your services are good people that have either: run into unexpected financial hardship, simply made a mistake and want to get their credit back on track, or others like me, who were a victim of a bank error and - through no fault of their own - had their financial lives ruined. 

But, what about the others? 

You know…

People that are playing the system…

People with unrealistic expectations, that don’t have any errors on their reports but they want everything deleted yesterday…

And what about situations that you can’t help with? 

What are they and how do you determine who you can help and who you can't?

As a Credit Hero, if you haven’t already bumped into a problem client - you will soon…

So, the best thing you can do is make a plan now!

And I’m here to help you do it. 

So, when should you say “no” to enrolling a potential client? When is it worth losing a sale? 

The truth is, some people do not qualify for credit repair. And if you sign up everyone that knocks on your door, you may be setting yourself up for problems. 

Here are the things you want to consider before sending out that new client agreement…

You need to use your best judgment, but here are a few of the situations where it may be best to turn a prospect away:

  • All Accurate Information - If the prospect tells you everything on the report is 100% accurate but demands that you delete everything negative – this not a good candidate. 🚩
  • Only Recent Debt – If you look at their credit report and realize that everything is recent debt, (like less than 6 months since falling behind) and open balances, there is a very good chance your efforts to help them won’t work. 🚩
  • Only Credit Card Debt – Folks who only have open credit cards with balances. They really just need to pay them or consider using a debt management program instead. 🚩
  • Currently or Recently in Bankruptcy - If a prospect is currently in a bankruptcy, or it has only been a short time since completing the bankruptcy - this is not a good candidate for credit repair. If you run into this scenario, schedule a call back 6 months after the bankruptcy is complete. Then there’s something to work with. 🚩 
  • Federally Subsidized Student Loans – Student loans like Nelnet and Sallie Mae are rarely resolved through credit repair. Consumers with past due student loans need to call the student loan company themselves and work out payment arrangements, a payment plan, deferment, forbearance or settlements - then afterwards, that’s when they should contact you about any other credit repair issues. 🚩
  • Limited Number of Negative Items – This really is a judgment call, but clients with only one negative item may not be ideal candidates. I say this because you only have one shot at making them happy and if you can’t, they may be really disappointed in your service. As long as you make it clear that it’s a 50/50 chance in the beginning, it still may be ok - you just need to set the right expectations upfront. 

Then there are others who simply have the misconception that the credit repair process is going to happen overnight… 

You’ll talk to leads that plan to buy a new car or want to get a mortgage next week, and they want you to transform their 480 into an 800 just in time for that. And that’s just not possible. And you’ll never make them happen. 🚩

People who demand immediate results will almost always be disappointed because it simply won’t happen and if you choose to sign up these types of clients, you’re gonna be left with a damaged reputation because we all know the disputing process takes time. 

Remember, you’re a professional and you need to set realistic expectations before signing anybody up. Otherwise you’ll end up with an unhappy customer, a negative review or a chargeback. And these are the things you want to avoid at all costs!

As you build your profitable credit repair business, you are going to run into people who are willing to pay you – but maybe not the right fit for you. 

I know that after doing all the hard work to get leads, it’s hard to turn anyone away…

BUT sometimes it's the best thing to do!

Ultimately, it’s a minor setback that will protect your business in the long run.

In the end, make sure you're signing the right people for your services by: 

  • Looking out for red flags 🚩
  • Setting the right expectations with each individual potential client ✅
  • Using your best judgment on who you choose to serve 👋

And if you’re just dabbling in the credit repair industry and would like me to hold you by the hand as you launch your very own credit repair business over just a couple of weeks - I wanna invite you to join our upcoming Credit Hero Challenge

Challenge-Stack-Mockup-Final

It’s an amazing program where you’ll learn the processes that have made millionaires, and it costs less than you'll spend taking your family to McDonald’s for dinner. 

We’ve got another challenge starting in a few days so grab your spot right now at Credit Hero Challenge

Until then, watch out for potential red flag clients, protect your business so you can help as many people as possible…and keep changing lives!

 

Be sure to subscribe on your favorite platform below!

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Topics: Podcast

Transcript

Daniel Rosen  0:00  

When should you say no to signing a potential client? Should you ever say no to a potential client? Are credit reports ever too far gone? How do you spot a problem client? Is it ever worth turning down a sale? What's the risk of chargebacks? Collections etc? If you have ever wondered these questions, will today I have your answers, so you better stick around. So the big question is this, how can we take our passion for helping people with their credit and turn it into a successful business without taking loans without spending a fortune by bootstrapping it from nothing? So we can help the most people and still become highly profitable? That is the question, and this podcast will give you the answer. My name is Daniel Rosen, and welcome to Credit Repair Business Secrets.

 

Okay, before we get started here, this podcast is brought to you by credit hero score, the only credit monitoring service that's integrated into credit repair cloud 2.00. And I love this part. Every episode, I'm featuring one of our credit heroes inside our Credit Repair Cloud Facebook community so that you can see firsthand what real people are doing as they launch and grow their business. And today's spotlight is on Jack, Nisha Womack, who recently took our courses, she started her business. And she just posted this a few days ago showing this amazing house that she just purchased with her credit repair money. And she wrote this. Two years ago, I joined this group to start my own business. In my first year, my business hit six figures. And now here I am. Two years later, a homeowner and I used my credit repair income, I will forever be grateful to this industry for changing my life completely. Homeowner at 23 to almost half a million dollars, with my credit money. Wow, Jack, Nisha, congratulations, I am so happy for you. In such a short time, you've been able to completely change your life, your family's life and all the lives around you. You really are a credit hero. And I know I'm going to be seeing you in the millionaire's club very soon. And if you'd like to know more about our training, and to get certified in credit repair, just like Jack Nisha did visit creditherochallenge.com. 

 

Okay, let's get into this. All right. So you have obsessed about growing your credit repair business, you've poured all that you have and more into making this dream a reality. You've set a good foundation, and you even started marketing to get leads. And what's even better is it's all working. You're getting a tonne of people that are reaching out to you and asking about your services. As leads flow in, you begin to sign up new clients, causing your monthly recurring revenue to increase. And with each passing day, you just know it's only a matter of time before you're living the life you've always wanted, just like Jack Nisha. And because of that you feel it only makes sense to seize every possible opportunity that comes your way and to close every possible deal so that you can scale your business as fast as humanly possible. But there's just one problem as a credit hero determined to change a tonne of lives. The vast majority of people that inquire about your services, they are good people that have either run into unexpected financial hardship, or perhaps have simply made a mistake and want to get their credit back on track. Or there are others like me, who were a victim of a bank error through no fault of their own, and someone else's mistake is now ruining their entire lives. But what about the others? You know, the people that are playing the system, people with unrealistic expectations that don't have any errors on their reports, but they want everything deleted yesterday. What about situations that you can't help with? What are they and how do you determine who you can help and who you can't as a credit hero. If you haven't already bumped into a problem client. You will soon so the best thing you can do is make a plan now. So when should you say no to enrolling a potential client? When is it worth losing a sale? Well, the truth is, if you sign up everyone that knocks on your door, you may be setting yourself up for problems. So here's some things you want to consider before sending out that new client agreement. First off, some people do not qualify for credit repair, you need to use your best judgement. But here are a few of the situations where it may be best to turn a prospect away. All accurate information. If the prospect tells you that everything on the report is 100% accurate, and if they demand that you delete everything negative, this is not a good candidate, only recent debt. If you look at their credit report, and realise that everything is recent debt, like less than six months since falling behind and open balances, there's a very good chance that your efforts to help them will not work. Only credit card debt. Folks who have open credit cards with balances, they really just need to pay them or they need to consider using a debt management programme instead. limited number of negative items. Okay, this is really a judgement call. But clients with only one negative item, they may not be ideal candidates. And I say this because you only have one shot at making them happy. And if you can't, they may be really disappointed in your service. Now, as long as you make it clear that it's a 5050 chance in the beginning, it still may be okay. You just need to set the right expectations up front, currently or recently in bankruptcy. If a prospect is currently in a bankruptcy, or it is only been a short time, since they've completed the bankruptcy, this is not a good candidate for credit repair. If you run into this scenario, schedule a call back six months after the bankruptcy is complete. And then you'll have something to work with federally subsidised student loans. Student loans like Nelnet and Sallie Mae are rarely resolved through credit repair consumers with past due student loans, they need to call the student loan company themselves and work out payment arrangements, a payment plan, deferment, forbearance, or settlements. And then afterwards, that's when they should contact you about any other credit repair issues. And then there are others who simply have a misconception that the credit repair process is going to happen overnight, you'll talk to leads that want to buy a new car or want to get a mortgage next week, and they want you to transform their 480 into an 800 overnight just in time for that. And that's just not possible, and you'll never make them happy. So here's what you need to know, people who demand immediate results, they will almost always be disappointed, because it simply can't happen. And if you choose to sign up these types of clients, you are going to be left with a damaged reputation. Because we all know the disputing process takes time. Remember, you are a professional and you must set realistic expectations before signing anyone up. Otherwise, you're going to end up with an unhappy customer, a negative review or a chargeback. And these are things that you want to avoid. As you build your profitable credit repair business, you are going to run into people who are willing to pay you but may not be the right fit for you. And I know that after doing all the hard work to get the leads, it's very hard to turn someone away. But sometimes it's the best thing to do. And in the end, just make sure that you're signing up the right people for your services. And make sure by watching out for red flags by setting the right expectations when you see them and using your best judgement on who you choose to serve. And if you're just dabbling in the credit repair industry, and you want me to hold you by the hand as you launch your very own credit repair business over just a couple weeks, I want to invite you to do Join our upcoming credit hero challenge. It's an amazing programme, where you'll learn the processes that have made millionaires, and it cost less than you'll spend taking your family to McDonald's for dinner tonight,

 

we've got another challenge starting in just a couple days. So grab your seat right now at credit hero challenge.com. And if you're finding value in the things that I'm sharing on this podcast, click below to subscribe so you don't miss a thing. And if you're feeling kind, give me a thumbs up, rate me with five stars, drop a comment, ask a question, because I read each and every one of them. And I will see you in the next episode. And until then, be a credit hero and keep changing lives. 

 

Hey, everybody, it's Daniel again. And really quick, I'd like to invite you to join what I believe is the best thing we have ever created inside the Credit Repair Cloud Community. And it is a challenge that we call the credit hero challenge. If you're just planning out your business, or you're just getting started, and you dream of having a successful business of your own. So you can quit your nine to five and fire your boss and have financial freedom or so you can add another revenue stream to your existing business. If that's your dream, you need to get into this challenge. We created this challenge to help you to create and launch your very own credit repair business to build a proper foundation for a really successful business. This challenge is going to help you to understand the strategy, the tactics and all the things you need to be successful at credit repair. It really is the greatest thing we have ever built, and it will change your life. So I recommend you do it right now. Stop everything pause this audio go online and go to creditherochallenge.com That's creditherochallenge.com and join the next challenge. And there's a challenge that starting in just a few days. So go get started right now at creditherochallenge.com

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