I've been asked this today on 5/30 calls so far, so let's talk about it.
The question really should be: who should pay for your fees and when should they be due?
Why pay upfront:
Due to the nature of this business, clients are already pre-disposed to not paying bills and a % of clients do not even pay for services rendered and face legal consequences. Therefore, clients must pay for a portion of cost upon sign up as well as Initial Audit billable hours.
Small fee breakdown:
Fees associated with processing a credit sweep initially and per month:
Time to process 1 Initial Audit (1st 4 days after sign up):
6-10 hours depending on severity of credit file and research involved
Time to process a credit file per month:
1-5 hours depending on severity of credit file, responses received from bureaus and/or creditors, research re…