Imagine having your appendix burst while you’re in-between jobs and without insurance. Or needing to have an emergency procedure due to complications with your asthma. Situations like these could land you thousands of dollars in debt.
Medical bills are the number one reason people get into debt. Chances are, you know someone who has suffered debt or even bankruptcy as a result of unpaid medical bills or unmanageable health care costs. Being sick, in pain, or seeing a loved one suffer is never easy. Add to that the stress of bills piling up, dealing with insurance companies, and navigating our complex health care system, and it can begin to feel overwhelming.
Caring for aging family members, unexpected medical expenses, and chronic illness can have a devastating impact on credit scores. When you decide to start your own credit repair business, you become the hero who can help people get out of medical debt and back on track.
How Medical Costs Erode Good Credit and Lead to Debt
Finding yourself in a credit crisis doesn’t happen overnight. The starting point might be caring for a loved one, or any number of unexpected expenses such as a divorce, job loss, or economic crisis in a community.
Research shows that around two-thirds of all bankruptcies in America can be attributed to medical issues – due to either the high expense of care or wages lost from taking time off work. The price of medicine and treatments slowly erode your budget, which often leads to credit card debt. Taking time off from work, combined with extra expenses make it hard to catch up, thus beginning a cycle of debt and low credit that can spiral out of control.
Overarching factors that contribute to the rampant medical debt plaguing our country include:
- The high cost of health care – Relative to its GDP and GDP per capita, the US spends more on healthcare than other countries
- Inadequate health-care insurance – The insurance that many people can afford or that is provided by their employer is often not enough to cover expenses in the event of serious illness
As the debate over health care reform rages on in Congress (with no lasting or significant changes to show for it), families continue to fall into debt while struggling to fight illness or care for a loved one in need.
Thankfully, your credit repair business can do something about it.
How Growing Your Own Credit Repair Business Can Help
Falling ill or seeing someone you care about experiencing health issues is hard enough - it shouldn’t be the cause of damaging consequences like debt or bankruptcy. Your new credit repair business is a rewarding (and lucrative) opportunity to help others tackle their rising medical bills and take back their dignity.
Here’s what it takes to start a successful credit repair business and start helping people who have been burned by America’s unaffordable healthcare system:
- Get training – Gain as much knowledge as you can so you can help people get out of debt faster
- Have a stable business model – Credit Repair Cloud software makes it easy to start growing your credit repair business with tools to help you generate dispute letters, instantly run credit audits, and create customizable marketing materials
- Be confident in reaching out to people – The most successful credit repair business owners are proactive about finding people in the community who could benefit from credit repair
Armed with your credit and financial knowledge, plus the proven workflows and processes established by Credit Repair Cloud, you can help people repair bad credit and escape from medical debt. You can help the community feel comfortable talking about credit, plan ahead and budget for long term care and future medical expenses, and help stop the cycle of medical debt that harms millions of American families.
Take the first step towards growing a profitable credit repair business. Make a difference in your community and help stop the cycle of medical debt. Join our free online training today!
