Do you have to ever REJECT a credit score restore consumer?
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 – 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 tone 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?
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 of 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 dabbing 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!
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!