SCARBOROUGH, Maine, Feb. 9, 2022 /PRNewswire/ — E-Commerce 4 IM, a New England-based merchant services resource since 2013, has just published their free online guide, titled "How to start a credit repair business in 2022."
Alex Roy, the president of E-Commerce 4 IM, says he published the new how-to guide based on the challenges new credit repair businesses are experiencing. This is how he explains it: "Starting a credit repair business in 2022 is complex and, unfortunately, it comes with many surprises for a large percentage of new business owners. From making sure that your URL is available and fully decided upon before you spend money on websites, logos, and design, to ensuring that you sit with an attorney and CPA prior to starting your company, to choosing software that allows you to integrate credit-repair-friendly payment processing, there are dozens, if not hundreds, of items to consider."
The new guide, which is available on the E-Commerce 4 IM website, discusses many of the most common issues facing a new credit repair company. Below are some highlights from the guide that cover a range of topics.
The first topic covered in the guide is choosing a legal entity – or structure – for a new debt-collection company. The new guide strongly emphasizes the value of sitting with both a qualified attorney and a CPA before deciding on which type of company you will establish. Later in that same section, the guide links to resources from the SBA that outline, in detail, all the common entity types with pros and cons.
The second section discusses setting up a business checking account. It makes the following suggestion: "Sometimes a small, local bank or credit union will be the best choice in terms of flexibility and available options."
Next, the "How to start a credit repair business in 2022" guide covers how to choose a website address for a new credit repair business, along with a detailed section on choosing a website builder or customer relationship management (CRM) that allows for the integration of high-risk payment processing. According to Alex Roy, this piece is often overlooked by new agencies. "Far too often," Alex explains, "new business owners do not realize that the systems, email invoice programs, shopping carts, or CRMs they have invested in allow for limited high-risk payment integration. This can be a nightmare for business owners who must then delay the launch of their business and often have to start over with new technology."
Credit repair is considered a "high-risk" industry due to the added regulatory scrutiny and the increased likelihood of consumer disputes or "chargebacks." In practice, this means that most common payment gateways and merchant account providers do not allow debt repair companies to use their services.
According to E-Commerce 4 IM, their mission is to provide "specialized processing for specialized industries." By limiting their online-merchant-account and chargeback-mitigation client types, which now include credit repair, EC4IM’s staff can better specialize and provide more tailored information.
"We focus on helping businesses with payment-processing and chargeback-mitigation services," states Alex. "Our model is one of focus. We specifically cater to credit repair, credit education, credit counseling, online courses, recurring billing, and business-training-event companies. This emphasis means our staff is experienced in credit repair payments and is better able to provide specific credit card processing advice. This new guide simply builds upon what we are already doing, which is helping business owners succeed."
E-Commerce 4 IM’s new "How to start a credit repair business in 2022" guide is free and is available without having to provide any personal information or sign up for a mailing list. You can read the guide directly at https://ecommerce4im.com/how-to-start-a-credit-repair-business-complete-guide/
E-Commerce 4 Internet Marketers is an internet marketing payment service and chargeback-mitigation provider with a focus on the credit repair industry and online education. For more information, visit http://ecommerce4im.com or call 1-800-570-1347.
SOURCE E-Commerce 4 Internet Marketers