If you are new to the credit repair industry, one important question that will be bugging your head is “what software do credit repair companies use?”.

Credit repair software is essential when running a credit repair business to make work easier, faster, and more efficient. However, finding the right software can be challenging especially if you are not sure what software do credit repair companies use and what features to consider. To help you out, let’s tackle the most important features to look into when looking for a software for credit repair business.

 

What is credit repair software?

 

Credit repair software is a tool designed to remove wrong information on one’s credit report to improve credit scores. It is used (1) by consumers to fix and manage their credit so they don’t have to hire a specialist and (2) by credit repair companies to fasten and reduce workload.

 

What does credit repair software do?

 

To put simply, this program extracts credit reports from credit bureaus, detects errors, and generates dispute letters to be submitted to the creditors or credit bureaus which are essential to improve credit scores. This process may sound simple but can be complicated as you will have to review and compare each credit report from different bureaus to check for accuracy. You may also find it challenging to write unique dispute letters as each client have a different situation.

 

What are the most important credit repair software features for credit repair companies?

 

Although all credit fix software has the same purpose, which is to find errors and repair credit, each is made distinctly. Some are made superior to others. This is why it is important to dig deeper into its features to know that it is good software for credit repair companies.

 

There are three important factors to look into when choosing software for a credit repair business.

 

  1. Speed.
  2. Cloud-based
  3. Business Capabilities

 

Speed

 

Having fast credit repair software means quicker turnaround time. This helps you avoid delays, improve productivity, increase efficiency, reduce costs, and enhance customer satisfaction.

For a credit repair business, it is important to find automated software that would drastically reduce processing time that would allow you to accommodate more clients.

For instance, in Credit Money Machine Web (CMMW), the processing time for every client can be as fast as 15 seconds. This includes extracting credit reports from three major credit bureaus (Equifax, Experian, and TransUnion), detecting errors and assigning dispute reasons, types, and letters. This process can take up to an hour when using other software as it may involve switching to different screens to compare results, check for errors, and generate letters. Unlike in Credit Money Machine Web, all is acquired in one click.

This video shows how to extract a full credit report using CMMW.
 

As you can see, it already has assigned dispute types, reasons, and letters of questionable items detected. It also shows the creditors’ names and account numbers as well as the credit bureaus that contain discrepancies. Having all this information on one screen makes it easier for you to quickly review them and decide what to do to each of them. For instance, omit authorized inquiries as they are not grounds for filing a dispute. If they are unauthorized then you should report them to the credit bureaus and contact the creditor to freeze the account as it can be an attempt at identity theft.

This part of the software also allows you to mark status, add follow-up dates, and print a document.

 

Cloud-based

 

When running a credit repair company, it is highly important to keep your database safe. The safest place to keep business and clients’ records is in the cloud. This protects your data from device errors and natural calamities.

Moreover, using a cloud-based or web-based credit repair software allows you to access your business data from any device and anywhere you are. This is very practical especially when you’re always on the go. It helps you attend to your client’s needs even when you are on the road or the opposite side of the world. Thus, you can enjoy spending time with your family or going on vacation while running your business.

Many credit repair business is cloud-based, but what stands out most for me is CMMW. Because it comes with a free mobile app that you and your clients can use to access their portals. The app allows extracting credit reports, managing contacts, adding and updating tasks, and so much more at the tip of your fingers.

 

Business Capabilities

 

Some business credit repair software can do much more than just fix credit for clients. They have built-in programs that help you run your business more conveniently.

For instance, the CRM integration in Credit Money Machine Web allows you to keep track, manage, and interact with your clients. It can send invoices, accept payments, send instant messages and autoresponders, set up tasks, and other important features that make interaction with clients easy.

These are the CMMW shortcut buttons in the dashboard that allows users to easily use different tools with one click.

CMMW Dashboard Shortcut Buttons - software for credit repair business

 

If you click on the contact list, you will see more tools.

CMMW Contact List View - business credit repair software

At the top you can take advantage of the Business Lead Finder button to find more leads, Login Digital Checks to request payment from clients, and Import/Export button to easily add more contacts to the list.

In the contact list table are the handy buttons to easily manage each of your clients. For example, to delete, view information, create tasks, send SMS, send a message in Facebook Messenger, or go to Dispute Center (red gavel icon) to work on a client’s credit account.

Aside from easy management of clients, the software also has marketing and sales capabilities that are helpful to grow your business.

As mentioned, you can use the Business Lead Finder button to find leads. Moreover, you can do marketing campaigns through its integrated Marketing-Campaign system. Or promote your credit repair business on Facebook with its free social media ad formats. If you decide to use affiliates to promote your business, Credit Money Machine Web comes with Affiliate and Client portals packed with affiliate commissions and a tiny URL system.

 

Conclusion:

 

Finding the right software for the credit repair business is vital to your company’s success. Keep these 3 important factors when looking for software to use to make sure it is packed with all the tools you need. As much as possible, keep all your business processes in one interface or system so it’s easier to manage. Remember, the more software you use, the more it will be complicated and have more room for mistakes. Besides investing in an all-in-one credit repair software can save you lots of money from buying other software.

Now that you have a good understanding of what software do credit repair software use, dig deeper and learn more about credit repair to ensure you are providing quality services for your customers and make your business more profitable.