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Payments in Advance and CROA

GetAttachment[1]According to the Credit Repair Organization Act: (b) Payment in Advance — No credit repair organization may charge or receive any money or other valuable consideration for the performance of any service which the credit repair organization has agreed to perform for any consumer before such service is fully performed. I would like to know from a professional… How does this process work on accepting payments?

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  1. Evelio Areas says:

    Now in regards to having a law office as the credit repair company, how would this affect the CROA requirement about advance payment? In other words, attorneys can charge retainers, can they do the same for credit repair services?

    • creditguy says:

      I would not recommend it. Like Mike says in his video, you can try to come up with some creative ways to charge but the FTC/Gov agencies will see right through the smoke and mirrors. In fact, there is lots of controversy around the FCRA and the inability for attorneys to dispute items on behalf of their clients. See this… Some “law firms” charge a case setup fee and have gotten away with that practice. The largest credit repair firm waits 6 days before they even charge that fee. They even say “Like all fees charged by our firm, this fee is charged only after this work has been completed.” Bottom line: DO NOT CHARGE UPFRONT.

  2. Lisa says:

    I have done credit repair in the past and was unaware that there are so many laws that governs credit. Thank you for the knowledge, enjoyed the webinar today…

  3. David Webster says:

    I am so glad that you do these every week. I am a member who uses your software, bought the biz in a box and I’m planning on going to boot camp… Thanks again.

  4. Lori says:

    Good Afternoon, I have only been with the program for about a month. What I like most is the ongoing training webinars. Most webinars I am lucky to pick up a point or two of new information – yours are hard to keep up the notes I am writing to remember all the great information! Thank you

  5. Dominick Burke says:

    Hey Mike,
    We almost didn’t make today’s Webinar on Compliance, but I’m glad we did. There was so much helpful information. We haven’t had a break amending our Client Agreements and the notes that we’re typing to assess my marketing approach are already 2 pages long. We appreciate the information that you’ve provided. Dominick B. Andrea L., Subscribers to Dispute Suite

  6. Justin Specht says:

    Hi Mike, Thanks for a very informative Webinar today, we really appreciate all the wealth of information that you continue to share with us weekly. Just wanted to also request for the three items that you mentioned in today's discussion. You mentioned that you can send us the Expose book, contract template and the Power Point presentation on today's Webinar. These webinars are awesome – thanks again.

  7. Kevin Cook says:

    As I read the laws that govern this industry I often wonder how many other companies could survive if they had to operate in this manner! Regardless, this is a great place to be. Looking forward to getting that PowerPoint presentation, expose book, BIO outline and other awesome information as well! Keep up the fantastic work!

  8. Anita says:

    Mike, you are a class act! Your webinars are the best part of my work week. You provide tons of great infomration and I look forward to attending your next meeting and boot camp. Where can I find the Expose book you mentioned? PS… I just got your book “The Art of the Short Sale” and loved it.

  9. Brandon Wolfram says:

    Hey Mike, great webinar on compliance with you and Dominic. Also enjoyed the boot camp in Dallas, tremendous event! I would like also to request the Expose book you mentioned. Keep up the great work, thanks!

  10. Amy says:

    I was in Dallas at your Compliance Session! I love that you are continually keeping us compliant and helping guide us. We love to hear you and we appreciate being associated with you. Keep all the good stuff coming!!

  11. Marco says:

    Mike, I have gone to your bootcamp in Dallas and am a regular attendee of your webinars and I have received a tremendous amount of information from these events. The amount of info and knowledge I have gained from the webinars ALONE are of a value that I cannot even come up with! I enjoyed the webinar today with Joel Bauer and although he is a "unique" individual to say the least….the material he presents is a very non BS approach which is of unbelievable value as well. Thank you for your continued support for our industry and I look forward to continuing with you in 2011 and beyond!

  12. Kelly Wells says:

    I really like the laws that govern those of us who do credit repair because these laws set us apart from the people out there who are scamming people for their money. I have had people come to me very skeptical and by the time we are done with the consultation and then I let them know I will break the payments up for them in as many as 12 payments they feel very comfortable about our business and service we offer. Mike and the people at Dispute Suite make it possible for me to be very sure that I am staying compliant with the laws that govern us. Thank you very much for your help and support in this matter.

  13. anthony says:

    I never thought someone as powerful at speaking but you could exsist until I heard joel speak.

    I have learned so much since I have been listening to your webinars every wed that I am able. Since I realize there is so much more about credit then writing letter this has become my passion. I work a job now I have several streams of income I am working on I know when one one comes through it will change my life for ever. I am all about giving back to others.

  14. anthony says:

    The more you give the more you get back. I am all about creating jobs changing lives and being a credit profesional and helping others this is my passion. I have a christmas wish and birthday wish. To be able to work for myself quit my job and help others first quarter. My birthday is january the 20th. Thank you so much I think its so great to know people are more than just about the bottom dollar they also want to help others.

    I will see you at your boot camp in april.

    My company even though I do this part time right now is.

    Financial Freedom changing one life at a time.

    People Helping People.

    See you next wed same time.

    You and Joel have a safe and happy holiday season.

    God Bless you and your familes.


    Anthony Martin

  15. Kim says:

    Mike – I love how you are able to make the complicated issue of law and compliance easy for anyone to understand. You always leave me full of questions and desire to learn more about the credit repair biz. This indusrty is soo lucky to have you in it. Some people say that one person can not change the world, they may be right. But one man can inspire others to help change it. Together we can give give give and give somemore. Thank you again for all you do. Can't wait to see what 2011 will bring. Kim

  16. Anita Berg says:

    Another Great webinar today. Great Q&A session, I am learning so much and look forward to the bootcamp in April.__Mike, Thank you again for all that you give.__Anita

  17. Keith Knapp says:

    Mike, great – GREAT webinar today. Full of great information to help keep us in compliant. I constantly learning new things from you and these webinars – keep up the great work!

  18. mellissa says:

    if your state law does not require that you fulfil complete service of entire contract before collecting fee- what happens if you sign a client from a state that does, which law becomes applicable for that client

  19. Joyce Council says:

    Mike, your webinar are just awesome. I had not been able to get on for awhile and know that I missed so much. Today Compliance training was just awesome. Also, thanks to Jim for sharing the per deletion method. I like it and will implement it as soon as I can get my contract changed. I intend to make the boot camp this year. Please send the items you offered today such as the court decisions. Can I also have a copy of the good faith estimate language? Thanks

  20. Greg Warford says:

    Thank God for your diligence in this area. I love this industry and believe in you. I thank Kevin from Amarillo for introducing me to you (Mike), and I cannot wait to learn more about the correct way to run this business, (knowledge) which so many people are in great need of. George in sales is also awesome, FYI… Also please send me the cases mentioned on the compliance webinar today.

  21. Lori-Ann Wojcik says:

    Thanks for making some confusing information more understandable. Please forward the information that you discussed in today's webinar.
    Thank you!

  22. Tom Stapelfeldt says:

    Great webinar, I learned a lot of info as we are just starting a business up and the pay for deletion looks like a real winner way to not only get paid but over come objections on doing this type of business. The one question I still have is what price did Jim set for each deletion?

  23. Harm says:

    Great webinar today! You gave us lots of very useful information that we can start using right away. Thank you for being direct and honest. We are looking forward to attending a future boot camp, hopefully soon.

  24. stephen says:

    Mike- great call today on compliance and how to revolutionize the business with the pay per deletion model. It seems like it will be an instant winner and an easy sell.

  25. Shane says:

    Mike, I appreciate the powerful value you continue to provide. Your content is very informative and extremely helpful in making sure you run your business the right way. The BootCamps are a must attend for anyone serious about their business.


  26. Geoffrey Handler says:

    Hi Mike first let me thank you for all the information you provide us. I am new to the industry all the information that you provide helps me to define myself as positive influence to COS industry.
    And I had trouble hearing on the first part of the call is there a link or some way I could get that information like you were talking about on the call would be great to.

    Thank You Again
    Geoffrey Handler

  27. mellissa says:

    Thank you for the informative compliance webinar, you mentioned to post a comment on the site to receive some further information via email. You mentioned toward the end of the webinar about a manual that was being put together breakdown the state laws and requirement by state, where can I get more information on that as well. Thank you.

  28. kris specht says:

    As always, you guys are amazing and today's webinar was very informative. Dispute Suites and the gang consistently provide a wealth of information. Thanks in advance for the webinar goodies 🙂

  29. James W. says:


    Today was the first call I have been on. I signed up Last week with George and have been reviewing the training videos. I look forward to the Boot camp and learning more about the pay per delete model. I planned on using that model for my business in NC.

    THANK YOU for all you do. Keep It Real!!

    James W

  30. Jerry says:

    Mike- yesterday was the first time I saw your webinar and I am very happy and impressed with your knowledge and providing that knowledge for us to be suceesful. This is the first of many webinars I will be attending. Thank you for taking your time to help us be compliant and overall to be successful.

  31. Art says:

    Hi Mike. Great Webinar on compliance on Wednesday. Keep up the good work and keeping on with your move to clean up the industry. Good information on the California ruling that came down in Federal Court. Wow! What an eye opener. I never realized how much the credit repair industry is hated by so many. What I can't figure out is why there are so many in the Credit Repair business and do such a lousy job and stay in business. If I ran my Real Estate business the same way I would have been out of business before I have gotten started.

  32. Karen Michaely says:

    I've been very pleased w/ the emphasis that has been placed on compliance. My interest in pursuing credit repair is because I believe that the cards that have been dealt to consumers regarding credit are from a stacked deck. How can a consumer make the best credit decisions if they don't understand the CRA rules? How can they hold CRAs and data furnishers accountable if they don't understand the laws in place to protect them? Thanks for the guidance!

  33. Tom Stapelfeldt says:


    Great webinar again very inspirational and very enlighting.

    Thanks again for all the help you are doing for this business.

    Tom Stapelfeldt

  34. Mary says:

    Mike, thanks for having Roger on today. Great stuff. I think we tend to over complicate things and this brings me back to the simple facts. I am excited to receive the gifts and the link to Warp Speed of Change and the audio of Think and Grow Rich. Mike said at the end that the material from last week was sent, but I have not received it. Can you resend it, too.


  35. George Scott says:

    Michael, George Scott here I was on the WEBINAR and enjoyed what Roger had to say I read THINK AND GROW RICH years ago and worked the principles, But please send me the link to download, I also didn't get the information from last week, again thank you for all you do, more importantly YOUR TIME.


  36. Abe says:

    you are doing a great job!!!!!!!!

  37. Manny says:

    That was nuts, I had asked George to send me the webinar on Compliance that I missed. There is truly a force guiding this that I really want to be a part of is all I can say. The first time we tried we weren't doing it right and I walked away now this time it feels right and I want to be a part of not only this business, but the movement in the right direction. As always thank you for the info. and any compliance material that you can send will be greatly appriciated.

  38. Donna says:

    Todays lession in life was wonderful and full of exciting new ideas. Thank you for helping all of us so much with new things each week

  39. miles magyar says:

    Webinar-10-19 could not hear on computer or on phone, was I the only one??

  40. Martin Stiff says:

    Can I charge afterI do the initial consultation session , they generally last one hour and we review the credit report and give a PLAN OF ACTION AND CONDTIONS SHEET
    Do I need to with 3 days or 5 days

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