If you’re in the credit repair industry, then you may already be familiar with the various software platforms available. With so many options to choose from, it can be hard to decide which to choose. In this article, we’ll discuss some of the main features that should influence your decision on which credit repair platform to choose.
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Feature #1: Dispute Manager
No matter which software vendor you choose, you should be familiar with how that software handles the creation of dispute letters. Professional credit repair software platforms such as DisputeBee will streamline the process of creating disputes by automatically gathering information directly from a client’s credit report and preparing dispute letters for credit bureaus such as TransUnion, Experian, and Equifax. Your software platform should allow you to create multiple disputes in a single bulk operation that are then ready to be sent without any further editing. Letters should be pre populated with your client’s personal information as well as with the details of the specific account that is being disputed, including automatically inserting the address of the furnisher or creditor. You should also pay attention to how your software organizes the dispute letters you’ve previously sent and received. For example, is it easy to see which letters you sent last month and which letters you need to send this month? A serious credit repair software platform will allow you to easily keep track of which letters you’ve sent previously so you know what work has already been performed for your client.
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Feature #2: Client Portal
Most credit repair software platforms will offer some type of client portal that your own customers can log into and view the progress of their disputes. You should take a close look at how these client portals are structured, and how smoothly they work for the end user (your customers). If the client portal is difficult to use, then you could be losing out on sales if your clients don’t complete the onboarding process. The client portal should be easy to use, streamlined, and informative for your clients.
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Feature #3: Electronic Contract Signatures
Another critical feature is the electronic signature, and this is a key feature since you’ll rely on it to stay compliant with the Credit Repair Organizations Act (CROA). The best credit repair software platforms will have built in electronic contracts which your clients can easily sign from any device such as a phone, tablet, or desktop computer. The software should send a copy of the contract to your client, and store an additional copy for you to access and retain records.
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Feature #4: Adding Team Members
If you operate as a sole proprietor or single person business, then you won’t have any team members. However, it’s still important to make sure that your credit repair software has the ability to add team members in case you expand in the future. You’ll want to closely examine how easy it to use team members, if there are any limits to how many team members you can add, and what types of roles and permissions they will have.
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Feature #5: Credit Report Importing
One of the most important features you’ll want to investigate is how easy it is to import client credit reports. Your credit repair platform should be able to import credit reports with the click of a button. If you have to spend time struggling just to import a credit report, then you’re going to be wasting valuable time that could be better spent growing your business or on other critical tasks. It should be able to handle credit reports with data from all three major bureaus: TransUnion, Experian, and Equifax.
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Final Thoughts
Last but not least, you should make sure you understand the pricing. A decent software vendor should not try and force you to sign any long term contracts and will allow you to cancel at any time. Pay close attention to whether there are any hidden fees, or what type of upcharges you might face as your business grows larger.
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Now that you’ve got an idea of some of the most import features of any credit repair software platform, you can begin exploring your options and doing your research.
