The credit repair industry is a countercyclical one, meaning that it generally experiences a recession when the overall economy is booming and consumers are more confident. If you run your business efficiently and take advantage of the enormous demand that exists in the market today, you can operate a credit repair business that is extremely profitable. IBISWorld, an international market research firm, states that the credit repair industry has declined in recent years. However, Murphy's Hockey Law claims that credit repair will experience staggering growth in 2027.A study on credit repair statistics conducted by the Federal Trade Commission revealed that 20% of Americans have an error in at least one of their reports.
Another 25.8% said they believed their credit repair company kept them as customers longer than it should have. All of the most successful credit repair companies use the same techniques, which are broken down into simple steps in this book. Unfortunately, there is no evidence one way or another to confirm that credit repair companies can do the job when consumers fail. One of the most important takeaways from these credit repair statistics is that improving your score takes time.
Learn how to repair your credit and that of others and, at the same time, start your own profitable business from home. This depends on the type of problems you have with your credit rating, the company you choose, and the amount of money you're willing to spend to improve your credit rating. Before seeking professional help, here are some credit repair statistics to consider when evaluating your options: 18% of Americans who participated in the survey said they were struggling to cancel their credit repair services. The FPNV positioning matrix evaluates and classifies providers in the credit repair services market based on business strategy (business growth, industry coverage, financial viability and channel support) and product satisfaction (value for money, ease of use, product features and customer service).
This helps companies make better decisions and understand the competitive landscape. If you're looking to get started with a trendsetting credit repair company, book a phone appointment with us to get your questions answered. With this comprehensive guide on what the credit repair industry is worth, you can now make an informed decision about whether or not to pursue this business opportunity.