A good credit score is essential in the approval of credit loans, credit cards, mortgages, rental applications, and many more. This puts one at risk of receiving high interest rates, having to pay deposits, or being flatly refused credit. Despite this, you may be asking yourself if Lexington Law can assist in achieving a better credit score especially if you have a poor credit score. Here's what you need to know:
What is Lexington Law?
Lexington Law is a debt repair service provider that was established in 1991. They have various credit repair service packages to enable you to dispute and get rid of bad records in your credit reports. Services include:
- Credit consulting and your report’s evaluation
- Deleting or disputing incorrect, vague, misleading, or outdated facts
- Having drafted individual dispute letters to the creditors and also to the credit bureaus
- The progress of each step should be tracked via an online dashboard.
- Customer service and support without any charges on the consumers’ side
How Lexington Law Works
When you join Lexington Law's credit repair service, you are given your credit case advisor who then reviews your credit report and develops a credit repair strategy. Your advisor will analyze the report and find the negative items that can be challenged and then draft letters to the credit bureaus and the creditors explaining why the items have to be deleted.
Examples of disputable items include:
- Late payments
- Collections
- Bankruptcies
- Foreclosures
- Identity theft
- Inaccurate personal information
In case the creditor fails to prove the validity of the information in dispute, it will be the responsibility of the credit bureaus to delete the information. And once negative items are evicted from the profile, it can only help your credit score improve.
LIU: What Results Can You Expect?
This is because, as early as four months, their clients are likely to have at least 10 points increase and 34 items removed per bureau. However, it is high time to state that the results can be quite different depending on the circumstances.
Specifically, the website has achieved 3,8/5 in Customer Review Ratings based on the customer opinions given by 13,332 customers. Positive reviews have indicated that an average of 15 items got removed and an average of 45+ points improved within 6 months.
Note that credit repair services can only delete accurate negative data from your credit reports since it is against the law. The former will only make a relatively small change while paying off debts yourself and exercising good credit practices will make more of a difference. You will derive the most value when the Lexington Law firm can provide the option to remove inaccurate or unverified information.
It is, therefore, imperative to know how much Lexington Law Services costs to determine their feasibility for any individual.
Lexington Law has three service-level options:
Concord Standard: $89.85/month
This is in areas such as bureau challenges and creditor interventions.
Concord Premier: $109.85/month
This is added to the Standard plan plus cease and desist letters.
Premier Plus: $129.85/month
This is the most aggressive option with those features including: – Creditor intervention frequency, – FICO score, – Identity theft, and personal finance.
It is also important to note that they charge between $99.95 and $125 as a one-off work fee when enrolling.
Lexington Law: Is the Service Right for You?
Lexington Law is most beneficial for individuals willing to challenge false credit reporting for inaccurate, untraceable, or outdated information. If there are mistakes on your report or if there are old entries, that can be erased, then such a dispute process may help to boost your score.
Nevertheless, if you have much negative information that is credible and up to date, such services will not have a dramatic impact on the results. In such circumstances, the only feasible ways to repair credit history include gradual repayment of debts and the use of credit responsibly and efficiently in the future.
It can also be expensive, as users noted that the fees can be from $2000+ and it is possible to spend such an amount within 6-12 months. Thus, one should weigh the potential gain in terms of the score against the costs of obtaining that score.
The Bottom Line
As noted earlier, Lexington Law has numerous strengths including good feedback and sound professional lawyers, but they cannot promise that your score will be increased by a specific number. It depends on your specific credit state or the credit status of the individual. However, they perform the useful service of pointing out statements that they believe are false and allowing you to challenge them. In summary, they are a legal service if you are in a position to seek assistance with disputing wrong information in your credit report. It is okay to expect something from it, just don’t expect drastic and instant changes in the long run.
Call now for expert credit repair services: (888) 803-7889
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