Repairing credit can be an involved process for those who don’t know how the credit reporting bureaus work. You can automate many repair and dispute tasks with credit repair software. Enterprise-level credit repair programs work differently from software meant for regular consumers. The main point is to remove as many manual steps in the process as possible, so that as much of it as possible happens automatically, which saves you money.
Consumer Features
At its very basic level, consumer software will have a customer enter information from their credit report and then generate dispute letters for individual report items that the customer wishes to have taken off of their report by the credit rating bureaus.
Enterprise Features
Software is much more robust at the Enterprise level. If you own or are starting a credit repair business, you’ll need features to help deal with multiple customers and affiliates as well as the actual automation processes. With the right features, a software suite can help you track client status and generate dispute letters for each of them — including spouses — for all three credit bureaus. You can manage multiple dispute templates and maintain detailed client files, all easily track-able in a central location.
A program that can send automatic notifications and reminders to clients helps reduce customer service calls significantly, which helps your business handle more business with fewer people. Automating notifications when a letter is sent out lets your customer know where they are in the dispute process and gives them an idea what to expect next. You can also send out payment reminders that can help recover delinquent accounts. Features like these can be a big time-saver when you have thousands of clients.
Computer vs. Web-based Software
Client-bases software can have a small speed-advantage over web-based credit repair software, but that largely depends on the connection-speed of the individual computer. A web-based programming does all its processing on a server, storing customer and affiliate data in a central location.
One of the biggest benefits of web-based software is the fact that clients, employees and affiliates can access services from any computer. You can let customers view their account status, and affiliates can check commissions and track referrals through their own accounts. By using a web-based program and storage, you don’t have to worry about maintaining your own servers and network security.
If you’re opening your own credit repair business, or you’re looking for a better solution to handling dispute-automation and client tracking, it’s important to identify the processes in your business that are costing you the most money. Then you can identify credit repair software with the proper features to eliminate or shrink the most time-consuming — and therefore the most costly — tasks.
Credit repair software can be extremely handy. The way in which the software works is as follows: you supply the software with vital info that is relevant to your present position, and the software helps craft of diverse letters as well as other information that will then be employed to help fix any bad credit that you’ll have.
Lulu, what a great article. I started a credit repair firm 8+ years ago and while it has been successful – we would have been much better off buying a software system. There are so many moving parts. I have been able to cobble together a decent system, but it has take a lot of time and frustration.
I am not sure an individual requires software, but certainly a system that will help them keep organized.