You've probably heard of Lexington Law if you've done any research on credit repair organizations. Since opening for business in 2004, the company has assisted in removing more than 56 million negative entries, making it one of the country's most extensive credit repair services.
On the other hand, Lexington Law has recently been the object of government action, with a lawsuit alleging that the firm participated in misleading activities.
For your knowledge, this post seeks to provide an in-depth Lexington Law review of the company's services, pricing, conditions, and reputation to determine what this implies for clients considering signing up with Lexington Law.
Lexington Law is one of the well-known credit restoration firms in the United States. Customers from all 50 states are welcome to use their services. So if you need to delete some negative marks from your credit report, this Utah-based firm could be a good fit for you.
It started as a law practice in 1991. They now provide a variety of services, including credit score correction. They also have lawyers and paralegals on staff.
They can help you delete all the deceptive and unjust negative elements from your history thanks to their two decades of experience. They'll also give you the tools and knowledge you need to keep your credit score high in the future.
Lexington Law is a simple place to begin. You can consult with the company's attorneys and paralegals in the first phase. They'll double-check your details and start examining your credit record. Then they'll decide which items to remove from your credit card. Finally, if your report fails to match the standards, they will eliminate all unfavorable elements.
Lexington Law‘s attorneys will assist you if you discover any deceptive negative things or inaccuracies in your reports. They'll write to three different credit bureaus, requesting that those items get removed.
Additionally, Lexington Law will call you within 48 hours of signing up. A personal agent will assist you throughout the procedure and get credit reports from three different credit bureaus. Equifax, Transunion, and Experian are the bureaus.
You can begin the removal process after they have finished analyzing the report. Throughout the procedure, your representatives will communicate with you. They will escalate the problem throughout the firm if issues don't get resolved.
What types of credit repair does Lexington Law offer?
Customers can also select a variety of monthly credit monitoring, theft identification, and protection service packages, including discounts, as well as a free credit consultation that includes a free credit score and report summary.
This session will assist you in understanding Lexington Law company's credit repair services better and the steps the firm will take to resolve your credit issues.
Pros and Cons of Lexington law
- Customer-favorite smartphone app: Lexington Law‘s smartphone app has received rave reviews from its users.
- Free consultation: New customers are entitled to a free online consultation. You will be able to acquire a credit score check and a report summary. Another benefit is that you have access to expert advice in this service. In addition, Lexington Law does not charge customers an upfront fee, unlike most of its competitors.
- There are three layers to the plan: Choose from various methods to discover the right combination of service and pricing for you.
- Credit monitoring services are available: Additional credit monitoring in two Lexington Law credit repair plans at no additional cost.
As with any company, Lexington law does have some areas where they could make improvements, such as:
- High monthly fees: The cheapest Lexington Law plan costs around $89 per month, which is out of reach for most customers. You'll have to spend around $130 per month for the most expensive subscription.
- In the last three years, the company was identified in seven Consumer Financial Protection Bureau (CFPB) complaints and over 600 Better Business Bureau (BBB) complaints.
- Lexington Law got sued by the Consumer Financial Protection Bureau (CFPB) in 2019 for allegedly charging illegal fees and employing misleading sales techniques.
- No money-back guarantee: It's pretty usual for credit repair agencies to offer refunds if nothing gets successfully erased from a customer's report, but Lexington Law doesn't.
- Residents of North Carolina and Oregon are unable to sign up for Lexington Law‘s services.
How does it work?
Let's study the various steps to their repair process in this Lexington Law review.
Reviewing Your Credit Reports
Lexington Law reviews any information affecting your credit score as part of their credit restoration procedure, including analyzing these reports with you. In addition, credit bureaus are required by the Fair Credit Reporting Act to keep only authentic, verifiable, and accurate information on file. Therefore, they must erase any harmful elements in your report that do not match these requirements.
Sending Dispute Letters
Then, to verify those pesky late payments and charge-offs, their staff begins issuing dispute letters to the targeted creditors or bureaus. The recipient of these letters gets determined by the type of fault discovered.
If a negative item looks to belong to someone other than you, they will almost certainly send the first dispute letter to the credit agency that reported it. Then, they wait for responses after disputing all of the items they are legally allowed to contest.
This procedure gets repeated until the problem gets fixed to the greatest extent possible. If not, Lexington law will continue to send stop and desist letters on your behalf at the appropriate service levels.
You'll also get credit mentoring and credit report monitoring as part of the process. In addition, you'll get access to an online portal with real-time credit report monitoring, as well as educational resources and tools to assist you in improving your credit score.
For any issues or problems, you can contact their team via chat, email, or phone. In addition, if you join up for one of the top-tier services, Concord Premier or Premier Plus, you'll get extra perks, including access to your credit reports via an online interface. You also won't have to pay for the additional credit reports they pull monthly.
Lexington Law Costs
Most competitors charge an initial work fee for the first portion of the credit dispute process, but Lexington Law does not. The Concord Standard plan costs around $89 per month, while Premier Plus expenses are about $130 per month. Concord Premier, the middle program, does not have a price listed.
These rates are much higher than industry averages, especially for the Concord Standard option, which offers a limited number of services. Furthermore, bear in mind that there are no upfront costs. With some credit repair organizations, these costs can easily reach $100.
Lexington Law offers three sets of services, ranging from essential credit restoration to more premium solutions. Customers pay for the services they require with this plan structure. Those with relatively simple needs can choose a less expensive plan, while those with more complex demands can get more in-depth support.
Below you will discover the different payment plans for this Lexington Law review.
Concord Standard, Lexington Law‘s entry-level credit restoration product, covers the basics. While this is Lexington Law‘s most basic plan, it includes the complete spectrum of services given by several smaller credit repair organizations.
The Concord Standard plan covers credit disputes and creditor interventions.
Lexington Law will detect inaccuracies on your credit report and send requests to the credit bureaus to delete them during the credit dispute procedure. Creditor interventions are several sorts of correspondence that your organization might send to lenders and collection agencies on your behalf.
Goodwill letters and debt validation letters are two types of creditor interventions. If you have an on-time payment history, goodwill letters ask the lender to stop disclosing a late payment. Debt validation letters ask for proof that you owe a debt that you believe is not valid.
Concord Premier, the mid-level plan, contains all of the credit repair essentials and a few extra services not included in the Concord Standard plan. For example, Lexington Law will contest any hard questions on your report that should not be there as part of this package. You'll also get a credit score analysis and regular credit monitoring, as well as alerts when your credit score changes.
Premier Plus, Lexington Law‘s premium package, includes credit repair and other financial services that may be beneficial. In addition, this package expands on the lower-level plans by providing cease and desist letters, which they send to creditors to stop collection activities such as intrusive phone calls.
Premier Plus members get access to a FICO score tracker and financial planning tools, all of which may get accessed through the Lexington Law app. Finally, there is anti-identity theft protection.
When you and your spouse join up for service, Lexington Law will give your spouse a one-time 50% discount. This refund is available to your spouse when you sign up over the phone or online using our safe sign-up.
Although you may cancel your monthly subscription at any time, this company won't grant you any refunds when you unsubscribe.
Does Lexington Law work?
Yes, Lexington Law can assist you in improving your credit score by removing harmful things from your credit reports. Lexington Law is a law firm and credit repair company that helps customers dispute issues on their credit reports so they can improve their credit scores.
Lexington Law provides nothing to help you repair your credit that you can't do yourself like all credit repair companies. Still, it is a respected firm that can make credit restoration simple and less annoying if you don't want to do it yourself.
Lexington Law differentiates itself from the competition in client service because of its highly-rated smartphone app. The software has received rave reviews, with an average rating of 4.8 stars on Apple's App Store and 4.6 stars on Google Play.
Team support is available via phone 24 hours a day, seven days a week, from 07:00 a.m. to 07:00 p.m. MST. Email is also available, and the company is active on social media channels such as Facebook. However, there is no live chat service available.
One of the critical reasons for their success is this attribute. Lexington Law employs attorneys and paralegals to ensure that all of their clients receive clear legal guidance. As a result, their team is quite effective at boosting your credit score.
Unfavorable credit circumstances are frequently highly private and humiliating to discuss. Whether your conversation partner is a qualified paralegal or a family member, this may happen to anyone.
Customers who are new to Lexington Law will get connected with an account representative; typically, a paralegal will work with you throughout your credit restoration process. But, again, you'll appreciate the personal touch because you'll be speaking with a familiar voice while you go through the details of your case and your financial situation.
But, maybe, more importantly, a personal case counselor who is familiar with your credit condition on a more personal level could help you improve your credit history faster.
Educational Materials on Credit repair
In this Lexington Law review, customer education isn't always a strong suit for different companies. On the other hand, Lexington Law makes a concerted effort to educate its clients and potential clients about credit restoration choices. Lexington Law‘s website offers eight critical categories for you to study under the credit education page, providing you a closer look at every facet of credit.
They also offer a blog with hundreds of articles on all things credit, in addition to the eight-core areas listed below:
- Credit 101, including information on the FCRA.
- Improve credit scores.
- Credit repairs.
- Negative items.
- Credit bureaus.
- Life events.
- Credit cards.
Lexington Law‘s resources are extensive, if not exhaustive, in this area. While this isn't a guarantee that the firm will help you improve your credit, it is a “plus” for the firm's helpfulness rating.
Alternatives to Lexington Law
Here are some other reliable credit repair organizations in the industry if you're interested in checking out other services that can help you:
- Credit Saint
- Sky Blue Credit
- Credit People
However, if you only have one or two negative entries on your credit report, you can try to fix it on your own. However, if you have many credit cards, personal loans, and student loan accounts to manage, you should consider hiring a professional.
How long does it take to get your credit repaired?
Lexington Law Firm will take roughly six months to rebuild your credit on average.
Of course, each scenario is unique, and many consumer complaints stem from this misunderstanding.
Many patients notice significant improvements within 90 days, and the majority see their best outcomes after six months, but certain cases may take up to a year to demonstrate substantial improvement. Use the instruction they provide on the internet portal to understand your credit and work toward results.
These cases take longer to handle because they include severe fraud or identity theft, necessitating repeated letters and action. However, you should be aware that seeing the desired effects can take time, and there are no promises that you will see any benefits. In addition, negative items may be proven in some cases and will, sadly, remain on the credit report.