5 Elements Your Credit Repair Contract Must Have To Be Successful
Running a successful credit repair business has a lot of elements.
For starters, you should have a business name, a tax ID number, and a bank account where you receive funds to pay for business expenses and to pay yourself.
But what about the contract between you and your client? They should be well informed of the service you are providing, the type of help to expect, and your policies for refunds.
If you provide one-on-one credit repair services to your clients, there are 5 elements that should be included in your contract in order for you to be successful.
- Contact information for your business and your client. This will ensure that you have your client’s complete contact information in case it wasn’t included on any online forms or collected by phone.
- Having this information in the contract will make it easily accessible if you need to contact your client in the future for testimonials or for any other reason.
- Be sure to put your business name and address for your business and not your personal information. When you run a business, you have to consider where your liability will go, and you want to keep all liability in your business.
- Describe the service being offered in detail. Despite what you may have discussed by phone, your client may not have a clear idea of the exact service they are receiving and miscommunication can occur. Be sure to spell out, in detail, exactly what your client will receive with the payment they are making so that they can be clear before they pay.
- A policy on refunds. Because my clients are paying for my time and consultation, the payment is not refundable, however, I will provide as much support as possible to ensure that the client feels satisfied about the service they received. Make sure this is detailed in the contract and if they have any questions, answer them before they pay.
- A clear time-frame for the service you provide. Is your service for an hour? 30 days? Does it have some permanent elements? Be sure to spell this out with dates and a timeline to give your client a clear picture of dates expected of them. Talk this out with the client before you send them the contract so that you can include what you discussed in the actual contract for their signature.
- A list of documentation provided. If you provide workbooks, worksheets, or any other documentation that comes with your client’s payment, be sure to include this in the contract as well. Miscommunications can occur over anything, so if it is not clearly stated in writing, it can cause a lot of problems in the future.
Consult the assistance of an attorney to help you create your contract in your state. The information provided in this article is for educational purposes only and should not be misconstrued as legal advice.
Good luck with your business!
You can download a sample copy of a credit repair contract here:
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