The Reason Credit Repair Clients Won't Ask for a Hardship Letter (And Why You Should Write One Anyway)

A poor credit score affects people’s quality of life; it has an impact on where they live, what they drive, their profession, and shockingly, how much it costs to live. A poor credit score can hinder individuals from reaching financial freedom, which is precisely why credit repair matters.

Many circumstances can get a person into a bad place financially, and most lenders will give breaks to folks experiencing hardships like the following:

• Job loss
• Income reduction
• A failed business
• Divorce or separation
• Newborn child
• Death in the family
• Illness or injury
• Debt accumulation
• Military duty
• Gambling addiction that resulted in treatment
• Alcohol or drug dependency that resulted in treatment
• Incarceration

These hardships could happen to any one of us.

And many hard-working people within your own community have fallen victim to one of these issues and are now facing credit damage. The problem is, they may not know where to turn for help or how a hardship letter to a credit bureau can change their life.

That’s where you come in.

Why Your Community Needs a Credit Hero

Financial setbacks easily result in people’s inability to pay their monthly obligations like their bills or mortgage. A single setback can catapult an individual into a perpetual cycle of financial issues. This cycle is more common than it should be.

• According to the Center for Financial Services Innovation, 48% of Americans say their expenses are equal to or greater than their income, causing them a significant amount of financial stress
• Research from Varo Money shows that 30% of Americans polled say they're "constantly" stressed about their finances
• 1 in 4 Americans may be experiencing symptoms commonly associated with post-traumatic stress disorder (PTSD) related to their finances, according to Forbes

It’s clear that many Americans need help overcoming and managing financial hardships.

A hardship letter may be the first step toward getting their finances and lives back on track. As a credit repair specialist, you can be the extended hand that helps your community members through tough situations.

How to Help Your Community

Start by Becoming the Local Specialist

Financial matters are sensitive. Those in need of support will be looking for a trusted source to help them rebuild and repair. Having a local presence is a great way to start building the trust of your future client base. A local specialist understands the community on a deeper level, like unique community economic factors that may contribute to one person’s situation.

To begin building your local presence, consider the following tips:

• Acquire a credit repair certification to show your authority in the trade
• Ask for testimonials or referrals from clients you’ve previously helped
• Position yourself as an expert by educating your community about financial wellness
• Market yourself in your community using outlets like television, radio, and print
• Attend networking events to make strong community connections

By making your presence—and value—known to your community, you help more members of your community regain control of their finances.

Inform and Assist Your Community

Your future clients may have questions about where to start when it comes to credit repair. It’s possible they have never heard of a hardship letter. As a credit specialist, you are able to inform your community about where to start with credit repair, and how to determine if a written hardship letter can benefit them, and how to write a hardship letter if necessary.

Provide actionable credit repair solutions like:

• Review credit reports
• Dispute negative or incorrect marks, as applicable
• Leverage credit repair software to automate, and inform the rebuilding process
• Promote and teach healthy credit habits
• Determine whether a hardship letter is right for your client

There is very little accessible credit education for most people in the U.S. The intricacies of credit bureaus credit scores and credit habits can be confusing. Become the moral support your community needs. Educate, inform, and help your community members take action because credit repair changes lives.

Access your free hardship letter template today.