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Credit repair business opportunity

Sat Nov 15, 2008 01:11PM | By Tony

See more in Credit Repair | Permalink | Email | Comments (0)

Q: I know that you are rather negative of third party credit repair shops, but I have this rather unique credit repair business opportunity, started up by my mortgage broker a little over a month ago. I am thinking to partner with her. All I have to do is put $12,000 as my partnership fee. She claims she has literally tens of thousands of excellent leads and need a partner to help running the business and spilt the initial costs. I was in telemarketing for 5 years and is very good on the phone, so it could be a perfect opportunity for an honest shop.

A: My short answer to you is don't do it. The rationale is simply that with the recent FTC crack downs on credit repair fraud and current credit related mess, every related business, honest on not will be scrutinized very closely. And even if your initial intentions are good, you may be tempted to do some shady activities. What about your would be partner? Does she share your honesty. The opportunity may be there but when it comes to credit repair business, I would skip it. Just one man's opinion.

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