Credit Repair Nerds: A Permanent Solution to a Temporary Problem - Business Opportunities

Credit repair isn't a one size fit all business. Credit Repair Nerds should know — they've been around since 2006 and deliver the most professional and results-oriented credit repair services in the country. Every client is different, so every client is treated with a plan built specifically for their needs.


Franchise Interviews / July 8, 2015

Good credit is more important now than ever, and the credit repair industry is booming because of it. Credit Repair Nerds is leading the way.

Scott Been, Owner/CEO of Credit Repair Nerds, recently sat down with us for an interview to discuss his successful business, which as of today is 40+ licensees strong and adding new members every week. Been lets us in on the secrets to his success and just how big he sees his business getting in the next five years.

What’s special about Credit Repair Nerds?

For starters, we are the only credit repair company expanding at this pace. We are in an industry that is booming right now due to the importance of credit. I always tell our clients and licensees that you can barely wake up and get out of bed without someone pulling your credit. Everything is credit-based nowadays, so our services are needed more than ever. Plus, it’s all web-driven. There isn’t a need for brick-and-mortar or office space. Software and technology allows us to run this business from around the world or poolside, sipping on margaritas.

What is the idea behind Credit Repair Nerds?

Originally, it was to grow our already successful business. It then turned into a mission to help our licensees build their own businesses. We spend a lot of time with our licensees, training them to be a success in this industry. And in return, they produce, which in returns grows our brand on a national level.

How does Credit Repair Nerds compare to its competition?

Ah, we have ZERO competition in this industry. We are the leaders and will continue to be the leaders in the credit repair business. As far as other franchise opportunities, well, I personally don’t get into that. We all have a place in this country to grow a business and be successful. We just think that we have the lowest overhead of all industries right now. Over 95 percent of our licensees work from home. You can’t beat that.

What do you look for in a potential licensee?

That’s easy, motivation and drive. Believe it or not, we don’t just let anyone join our team. You must be willing to listen and take instructions. The business model is already a proven winner. You just need to duplicate it. There isn’t a need to reinvent the wheel.

Where do you see Credit Repair Nerds in five years?

I love this question because that is how I run this company. I’m never looking at today or tomorrow. Every move we make is to put us in a better position years from now. But, in five years, we should be 400+ licensees strong and growing as the industry changes.

Can you describe a typical day in the life of a Credit Repair Nerds licensee?

Well, if they follow the business model, they’ll find themselves working about 10 hours a week, making a good six-figure salary. But, in the beginning, there is a lot of training. Live webinars, one-on-one training, you name it. We have to do what we have to do to get everyone up to speed.

What’s your background?

I’m 10 years into the business now. Before that, I was slaving for corporate America, selling cars. I loved the car business, but the hours wore thin and I quit and started this company out of my one-bedroom apartment. As of today, we are 34 licensees strong and adding new members every week. By the end of 2015, we should be around 75 licensees. And the crazy part is, we started licensing last March. So, in just three short months, we added 34 licensees.

What motivates you to keep going?

The fear of having a real job. That is my motivation. Every day I wake up remembering what it was like putting in 60-70hrs a week selling cars and having nothing to show for it. I am so anti-corporate. To me, they are the enemy and I run my business as such. I wake up with a chip on my shoulder and I use that as fuel to never become lazy. Training and teaching new licensees the business is another aspect of what keeps me going. Every licensee has their own learning curve. I love trying to find that curve and to straighten it out. I find myself becoming a professor or, as some of our licensees call me, a guru. It’s fun building people up. As one of the people I look up to, Mark Cuban, says, “We don’t build businesses, we build people and those people build businesses.”

If you were to start again, what would you do differently?

Good question. I wouldn’t have taken so long! I should have been doing this five years ago, but as my father told me, “Son, you just weren’t ready.” So, other than that, I wouldn’t have changed a thing.

Please tell us your secret to success…

This is going to sound weird, but I don’t look at myself as a success yet. I look at people like Mark Cuban and strive to get to that level. Will I ever become a billionaire? Eh, probably not. But that won’t stop me from trying. I’m sure that question is better asked to my licensees. They look up to me, so with that, I guess I am successful. The day when others looked at me as a leader, I guess that would be considered successful. I want to see others succeed, and if I can help them get there, then it’s a success.

What is the worst job you have ever had and what did you learn from it?

Hmm, working for my father. He owned a construction company. I hated slamming a hammer for a paycheck. I was dealing with the Houston heat and humidity every day. I guess if that was my worst job, looking back, maybe it hasn’t been so bad after all.

What is the one thing that really excites you?

Being able to walk into a Ferrari dealership and paying cash (wink wink). On a serious note, just growing the business. I am now 38 years old and I’ve realized I’m not where I’m at today without some help. Being able to build the Credit Repair Nerds business and grow it the right way in an industry full of scams is what excites me. It might have taken longer than expected, but I pushed through the walls.

Any final words for aspiring entrepreneurs?

Yes! If I can build a business, so can you. I know that sounds so cliché, but I started this business with nothing. And when I mean nothing, I mean nothing. I quit the car business, got on unemployment and instead of blowing my unemployment like most folks do, I started my business. It was tough. I had a hard time keeping the lights on and paying rent, but in year three, I was clearing six figures and from there, I put the throttle down. There were a lot of negative nellies along the way telling me I was nuts. I ignored them and surrounded myself with other like-minded people. I pushed through. I didn’t give up. Did I have days and nights where I thought it would all end? Heck yeah, but I pushed through those thoughts and stayed focus on the bigger picture. Now, here I am! I can relate. Like Mr. Wonderful says, “I’ve been rich and I’ve been poor, rich is better.” I know that sounds elitist, but it’s true. I always tell my licensees, ‘Look, I’ve been there. I started from scratch. You can do it. You just have to block out your outside interference, join a winning team and take in instruction. Once you allow yourself to do that, then it just all comes together. Before you know it, you control your local market and it’s off to the races.

Where can people find out more about Credit Repair Nerds?

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Credit reporting agency and your credit damage: The legal remedies

A credit reporting agency (CRA) may not be interested in admitting and rectifying its mistake on your credit report and may even deny any charges of causing you endless troubles due to credit damage. In such a case, the law is on your side and hence, you can always take additional steps to resolve the crisis.

The reasons why CRAs don’t want to correct credit reports

The law entitles you to dispute any kind of discrepancy or misinformation in your credit report. On receiving your formal, written complaint, a certain CRA has to either omit the misleading information or conduct a separate investigation regarding the matter and keep you abreast with all the developments in relation to your complaint.

Often, CRAs respond to such complaints that the concerned creditor who reported the information has authenticated the accuracy and the completeness of the information furnished. Hence, you’ll be notified about the information and that it would continue to show up on your credit report as per its time-limit.

Legal recourse to make CRAs correct your credit report

In case a CRA declines on your request to have a particular wrong tradeline dropped or corrected, then you have a host of legal alternatives to fight back and make them yield to your demands. However, you need to take a more aggressive approach toward dealing with the credit reporting agencies in order to clean up your credit report. And yes the whole process could be cumbersome and frustrating.

Here are some of the ways to force the CRA fix your credit report mistakes:

Primarily, you’ll have to get in touch with your creditor or the debt collector responsible for the wrong information and ask that the credit reporting agency be notified to have it removed from your credit report.

However, if you’ve already spoken to the creditor directly, then you are no longer required to speak on the same matter, unless you have new information to share. The key is you’ll have to be strong and resolute in your view about the inaccuracy of the information reported and claim that your complaint was not investigated properly, then it is very likely that the CRA will respond to your demands.

Pay a visit to your creditor or the bill collector, if they are local and operate within your state or county. You may wait at the office of the customer service department, president or vice-president of marketing or even the chief executive of the company and discuss your grievances as well as the ways to have them resolved. Stay put until you are provided with an opportunity to meet someone and pay heed to your problems. It is important to keep in mind that you always have the right to ask for attention and if a creditor has validated inaccurate information, then such information must be deleted from your credit report.

In the event you receive a letter from your creditor or the debt collector accepting that the information furnished by them to the credit reporting agencies were incorrect and that they have agreed to have those rectified, then you should send a copy of that letter to the respective credit reporting agencies.
In case a creditor isn’t cooperating with you or helping you out in rectifying the blunders, then you may call the credit reporting agencies on your own. The CRAs have a toll-free number put in place to handle customer queries and disputes about incorrect tradelines in the credit report prepared by them – something that does not get removed under normal reinvestigation process.
File your complaint against the CRA. The country’s apex consumer redressal forum, the Federal Trade Commission (FTC) has an online form in its website ( where you can lodge a complaint against a rogue credit reporting agency. Apart from that, you can lodge your complaint with the FTC over phone at 877-382-4357. You can even mail them your complaint at FTC Consumer Response Center, CRC-240, 600 Pennsylvania Avenue, NW, Washington, DC 20580.
Knock at your State Consumer Protection Agency’s door. There are some selected states where they have laws to protect the interest of their people against rogue credit reporting agencies or the creditors who are providing them with their consumers’ information. Lodge a complaint against your CRA with the state’s attorney general or at the local consumer protection agency.

Protecting your credit is very important as this would serve as a tool to evaluate your financial health and creditworthiness. Therefore, if all the tactics mentioned above to make the CRA toe the line, then you can file a lawsuit against it. However, you must consult a lawyer before doing so as the Fair Credit Reporting Act (FCRA) provides several ways to avoid any sort of liabilities in these matters.

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