If your credit report is filled with missed payments or inaccuracies, your credit score has been negatively impacted. Having good credit is essential to your financial well being. Your credit score is a key deciding factor when it comes to getting approved for anything from a loan to a credit card. The worse your credit score, the less favorable terms you will receive on any loan instrument. Bottom line, you should try and resolve the issue as soon as possible. The longer you wait, the more money it will cost you in the long run.
When it comes to credit repair, it is possible to do the process yourself. With that being said, unless you have a simple issue to correct, you are better off leaving this complicated task to a reputable credit repair company. Lexington Law has been around in this space since 1991 and has helped hundreds of thousands of consumers restore their credit. Before you choose a credit repair company, it is important to know what they can and cannot do for you.
Can I Do Credit Repair On My Own?
The quick answer to this is yes. It is possible to go the DIY route but it is also possible to represent yourself in court without a lawyer. At the end of the day, both of those scenarios probably aren’t the best to do on your own. Some things are better left to the professionals. Now, if you have a simple case and have knowledge of credit law, you may want to try and dispute any inaccurate items on your report. However, this is not so easy and simple to do either. It requires extensive research as well as time to see the entire process through.
Who is Lexington Law?
Lexington Law is the largest credit repair company in the U.S. It is a trusted leader in credit repair and has thousands of positive reviews. They have over 20 years experience and staff a team of lawyers and paralegals that are fully versed in consumer laws. Through their years of experience, they have learned how to effectively challenge and remove negative marks on consumers’ credit reports. Click here to read a full review of Lexington Law.
What Can a Credit Repair Service Like Lexington Law Do For You?
Credit reports have more mistakes than you would probably think. According to the FTC, one in five people have at least one error on one of their credit reports. Lexington Law’s services assist customers by challenging creditors to remove any reporting mistakes.
When you sign up for Lexington Law’s services, you will be assigned both an attorney and a paralegal. Their first step is to obtain your credit report from (Equifax, Experian, and TransUnion) which are the three major credit reporting bureaus . They will then go over your credit report with you line by line to see if there are any unverifiable or inaccurate items. If there are, they will begin drafting up letters of dispute for the creditors. If for any reason a creditor cannot provide proof that an item on your report is accurate, then that item must be removed from your credit report. On the flip side, if you have items on your report that are real and verifiable, those items cannot be removed from your report.
As you move through the credit repair process, you can expect to have 24/7 access to experts who can answer any questions. They will also provide you with ongoing updates on how your case is proceeding. Most clients see results in about six months.
Lexington Law’s Service Plans
Lexington Law offers three plans to choose from. Your situation will do most of the guiding when it comes to which plan is best for you.
Concord Standard: $89.95/Mo
Concord Premier: $109.95/Mo
Premier Plus: $129.95/Mo
Signs Of a Bad Credit Repair Company
There are credit repair companies that operate illegally. According to the FTC, here are red flags to keep an eye out for.
- They ask you to pay for services upfront:
According to the Credit Repair Organizations Act, legitimate credit repair companies cannot ask for payment until services have been rendered.
- They tell you that you can’t do the credit repair process on your own:
Credit repair is something you can do yourself. The question becomes do you want to? It is a complex and daunting process that can make it tough for a consumer to navigate. Either way, you can do it yourself.
- They tell you to create a new identity:
If a credit repair company suggests that you create a new credit identity, run for the hills. This is very much against the law.
- They make guarantees:
There are not guarantees in the credit repair process.
- They don’t provide you with a written contract:
Before they can perform services, credit repair companies must provide a written contract.
Is Lexington Law Worth The Cost?
If you are suffering from poor credit, it is not something to take lightly. Your credit affects some of the most important aspects of your financial well being. Working with a reputable credit repair company can help you get your credit back on track helping you save money in the long run . Credit repair is a confusing and complex process that companies like Lexington Law have the proper experience dealing with. If you are serious about fixing your poor credit, Lexington Law can be that company for you.