small business resources

Credit Repair Cloud offers a suite of tools designed to help credit repair businesses manage their operations. While the platform provides valuable features like credit report management and dispute automation, its reputation is mixed.

Positive employee and user reviews contrast with a low Better Business Bureau rating and legal action by the Consumer Financial Protection Bureau. Before considering Credit Repair Cloud, it’s essential to carefully evaluate both its benefits and potential drawbacks.

I will tell you everything I know.

This is what’s in store:

What is Credit Repair Cloud?
What Does Credit Repair Cloud Do?
Conclusion: Is Credit Repair Cloud Legit?

Now, let’s dive in!

What is Credit Repair Cloud?

Credit Repair Cloud is a software platform to help manage and expand credit repair businesses. It’s marketed at entrepreneurs, tax professionals, financial service providers, realtors, auto dealers, and mortgage brokers.

The platform offers tools and resources to streamline operations and enhance efficiency, in the credit repair industry. Credit Repair Cloud includes features like customer relationship management and credit dispute automation. And, they have training programs to equip you with the knowledge and skills necessary to succeed in the industry.

As a member, you can join a supportive community of peers and participate in events like the Credit Repair Expo to stay informed about industry trends and strategies.

You might also like: Business Credit Repair: How to Get Your Business Credit Back on Track 

How Much is Credit Repair Cloud?

Credit Repair Cloud pricing varies based on the products and services you sign up for…You can get started with Credit Repair Cloud for $179 per month (as stated on the website) and take advantage of a 30-day free trial. This includes unlimited storage, unlimited affiliates and leads, and a private label client portal that supports up to 300 clients for up to 3 team members

You do have to enter your credit card details to sign up for the trial—you can cancel any time from your dashboard.

A monthly membership will get you access to all of the core platform features:

Import online credit reports (no more manual typing required).
Generate credit audits with “just one click.”
Automate the credit dispute process.
Access a dispute library with over 100 letters, or customize your own.
Select the perfect letter for each situation automatically.
Get two months of free web hosting.
Capture and import leads and signups from any website or blog.
Collect electronic signatures from clients.
Access affiliate tools to track success and payments.
Monitor key performance indicators with the business dashboard.
Get dedicated support with free live software training.

After signing up, you’ll have the opportunity to buy extras like mentoring (undisclosed pricing) or the ‘masterclass’ (an extra $997).

You might also like: Read This Before You Hire a Business Credit Coach [Quick Guide]

Company Overview

According to Crunchbase, Credit Repair Cloud was founded in 2012. So, they’ve been around for a little over a decade. But, the company is a “DBA” (doing business as) registered under Daniel A. Rosen Inc., which is an entity that was initially registered in 2004. The entity has the same name as Credit Repair Cloud’s founder.

This business naming is a little unusual, but totally permissible. And, Daniel A. Rosen Inc. is active and in good standing in the state of California, according to the Secretary of State website.

Before launching a series of entrepreneurial ventures, Rosen was a television personality (comedian and host) in the U.S. and U.K. His founded and co-founded businesses include Credit-Aid (closed), Billable (closed), and Awesome Partners (LinkedIn says he left in 2019, but the business registration and website are still active).

Credit Repair Cloud founder Daniel Rosen

According to Glassdoor, people really like working for Credit Repair Cloud, and tend to endorse the company leadership. 83% of reviewers would recommend the company to a friend and 76% approve of Rosen as the CEO. This tells me that the internal ethics must be pretty good!

And, Trustpilot reviewers seem to be just as satisfied. Credit Repair Cloud has a 4.7-star Trustscore overall. Trustpilot reviewers generally rate the platform “Excellent.” Users appreciate the effective training, user-friendly interface, and customer service. While occasional issues may arise, Credit Repair Cloud appears proactive in addressing them.

However, the Better Business Bureau (BBB) isn’t so favorable to the company. The BBB rating for Credit Repair Cloud is an F due to its failure to respond to four out of seven complaints filed against the business (and they’re not BBB-accredited).

There isn’t a ton of information about Credit Repair Cloud on Reddit—The one rave review that I saw on Reddit includes an affiliate link. The guy said he had started thriving in business after using the product, and apparently wanted to get others to sign up.

In all, I’d say there are mixed reviews of the platform, more than a couple of red flags, and my initial advice would be to proceed with caution. But, you also need to know about the legal proceedings before you make a decision. I’ll tell you all about it.

You might also like: How to Find Aged Shelf Companies for Sale +Why Buy Them?

Credit Repair Cloud Lawsuit Update

In 2021, the Consumer Financial Protection Bureau (CFPB) initiated legal action against Credit Repair Cloud and its proprietor, Daniel Rosen, for allegedly breaching the Telemarketing Sales Rule (TSR). This rule specifically prohibits credit repair entities from collecting fees before fulfilling services for consumers.

“Credit Repair Cloud and Rosen have been breaking the law,” David Uejio, Acting CFPB Director said. “They are actively assisting credit-repair businesses in violating federal consumer protection laws. They facilitated and encouraged credit-repair businesses to charge illegal advance fees, causing broader consumer harm in the marketplace. The CFPB will not tolerate companies facilitating and profiting from other companies’ violations of federal consumer protection laws.”

As of today, the CFPB hasn’t announced any settlement, negotiations, or new motions in the case. You can check the CFPB newsroom for updates.

This looks like a pretty big red flag to me–-But, as long as you know you can’t pre-charge your clients, this may not impact you.

You might also like: Is BHG Financial Legit? Personal & Business Loans, VC, & More

Is Credit Repair Cloud a Pyramid Scheme?

It’s definitely understandable to notice similarities between this offer and traditional pyramid schemes, but Credit Repair Cloud operates differently.

Rather than functioning as a pyramid scheme, Credit Repair Cloud is more like a comprehensive online training program—It provides you with tools, resources, and guidance to establish and grow credit repair businesses.

With that said, caution is warranted when you evaluate opportunities like this. There is an affiliate program, which means users receive compensation when they sign you up (a shared feature with pyramid schemes), but the hierarchy isn’t a pyramid. And, the company is not an MLM.

You might also like: Low-Risk NAICS Codes +Best SIC Codes for Business Credit in 2024

What Does Credit Repair Cloud Do?

The company behind the offer is vital to know about. But, what’s even more important is to understand the offer you’re actually thinking about signing up for. The Credit Repair Cloud Software includes a range of features. Explore what they are to decide if this is a solution that could help you manage or grow your business.

1. Import Online Credit Reports

With Credit Repair Cloud, you can bid farewell to manual typing when importing online credit reports. This feature streamlines credit report management, making it faster and more efficient for you to access the necessary data.

At any rate, there might be instances where the automated import process encounters errors or discrepancies, requiring manual verification.

2. Generate Credit Audits

Once reports have been uploaded, with just a couple of clicks, you can generate credit audits using Credit Repair Cloud. The quick and easy process can provide you with instant analysis and insights into your clients’ credit situations.

Now, there’s something else you need to keep in mind—Inaccuracies in the credit report data or limitations in the analysis algorithms could potentially lead to incorrect audit results.

3. Automate Credit Disputes

Credit Repair Cloud automates the credit dispute process, saving you time and effort. This might accelerate dispute resolution and help you improve your clients’ credit scores more efficiently.

Yet, automated disputes may occasionally overlook nuanced details or require manual intervention for complex cases.

4. Access the Dispute Library

You’ll get access to a dispute library within Credit Repair Cloud, which includes over 100 letters ready for use. Additionally, you can customize letters to suit specific client needs, ensuring personalized communication.

Now, relying solely on pre-made templates may not always address unique client situations adequately—you almost undoubtedly will require additional customization.

5. Automatically Select the Right Letters

The Letter Finder feature in Credit Repair Cloud selects the perfect letter for each situation automatically. This saves you the hassle of manually searching for the right template, ensuring accurate and effective communication with creditors.

You can also add, modify, and remove letters from your library. With that said, automated letter selection may not always align perfectly with every client scenario, necessitating manual review and adjustments.

6. Two Months Free Web Hosting

Enjoy two months of free web hosting when you sign up for Credit Repair Cloud. This offer provides you with an instant website setup, giving you a head start in establishing your online presence. And, there’s a special offer for 6-months of free hosting if you qualify.

Be that as it may, after the free period ends, standard web hosting fees will apply, which could impact your budget if not accounted for in advance. Or, if you already have a website, you might not want to take advantage of this.

7. Capture & Import Leads

Credit Repair Cloud allows you to capture and import leads and signups from any website or blog. This feature simplifies lead generation and integration, enabling you to expand your client base seamlessly.

But, imported leads may require additional vetting or qualification to ensure they align with your target audience and business goals.

8. Collect Electronic Signatures

Credit Repair Cloud advertises that you can streamline client agreements with electronic signatures (this allows you to collect signatures from clients online to make the onboarding process more efficient and convenient).

But, you can’t actually collect signatures without an electronic signature provider and integration. Most eSignature platforms charge a fee for their software and all of Credit Repair Cloud’s add-ons are pretty manual—you have to create them yourself using Zapier or with a developer’s help. Credit Repair Cloud will give you their API to help facilitate the process.

In sum, this is possible, but you’ll need to pay extra and do some manual work for eSigning capabilities within the platform.

9. Access Affiliate Tools

Utilize Credit Repair Cloud’s affiliate tools to track success and payments through the affiliate program (which offers 30% commission on referrals) These tools provide insights into affiliate performance, helping you optimize your affiliate marketing strategies effectively.

Nevertheless, managing affiliate relationships and tracking performance metrics may require ongoing monitoring and adjustment to maximize results.

10. Get Dedicated Support & Training

You can receive dedicated support with free live software training from Credit Repair Cloud. This might help ensure that you have the assistance you need to maximize the benefits of the platform and achieve your business goals.

Despite that, response times for support inquiries may vary depending on demand and resource availability—This could potentially impact your access to timely assistance during critical situations.

Conclusion: Is Credit Repair Cloud Legit?

While the company is still active and in good standing in the state of California, it’s received mixed reviews. Positive feedback on platforms like Glassdoor and Trustpilot contrasts with a low Better Business Bureau rating and several unresolved complaints.

And, legal action by the CFPB raises concerns about compliance with consumer protection laws—Despite offering valuable tools for credit repair businesses, it’s crucial to weigh these factors carefully before you decide to use Credit Repair Cloud.

Do you want to learn how to obtain up to $100K in business credit in as few as 30 days? Join Business Credit Workshop today!

Credit Repair Cloud Reviews Examined: Is This Offer Legit?