Starting A Credit Repair and Financial Counseling Business?

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leah_ifft@sbcglobal.net wants to know:

I currently work as a mortgage broker who specializes in bad credit loans. I have helped many of my clients understand their credit reports and what they can do to improve their credit.

I love this part of my job, am good at it and would like to turn it into a source of income.

I would like to take a credit repair client, obtain their credit reports and explain the information contained in them in detail. I would give recommendations about what they can do to raise their score and a detailed step by step plan of action. For an additional fee, I would dispute incorrect items on their behalf.

I plan to keep my prices low and offer honest, realistic advice specific to the individual’s situation and goals.

What certifications or licenses do I need to start a business that does this?
I did find out I need a $50,000 surety bond for this. How do I get that?
I have checked my state’s website and most of the information given there was pretty vague. I’d like to hear from someone who has done this before.

Is there any way to get a secured credit card without a credit report being pulled?

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Bill T wants to know:

I don’t understand why if you give a bank money up front, and that’s your limit on the card, why they have to pull a credit report? Is there any way around? The reason I don’t want a report pulled is I’m trying to raise the score, but it’s already been affected negatively by too many inquiries.

Is there any way to get a secured credit card without a credit report being pulled?

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Brad Z wants to know:

I don’t understand why if you give a bank money up front, and that’s your limit on the card, why they have to pull a credit report? Is there any way around? The reason I don’t want a report pulled is I’m trying to raise the score, but it’s already been affected negatively by too many inquiries.

Is there any way to get a secured credit card without a credit report being pulled?

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BlackDahlia wants to know:

I don’t understand why if you give a bank money up front, and that’s your limit on the card, why they have to pull a credit report? Is there any way around? The reason I don’t want a report pulled is I’m trying to raise the score, but it’s already been affected negatively by too many inquiries.