Lexington Law Firm vs. Sky Blue Credit

Both Lexington Law Firm and Sky Blue Credit provide consumers with credit repair services. Credit repair services primarily try to help improve consumers' credit scores by disputing derogatory items on their credit reports, frequently disputing even accurate credit listings, in an attempt to have derogatory information removed. Frequently, having an inaccurate item removed from a credit report is a relatively straightforward process, as a single dispute can result in the item being erased. However, if a creditor fights your dispute, having an account removed from your credit report can be a much more difficult and time-consuming process, as it can involve repeated disputes.  We wrote a fairly detailed review of Lexington Law which you should also check out to see if credit repair in general, and this firm in particular, is a scam or if it is a viable alternative for you.

In some cases, even the best efforts of an experienced credit repair firm may not result in the removal of a derogatory credit listing from your report, especially if the creditor can show that the information it is reporting is accurate. What this means is that there is no sure-fire answer on if the disputed items will be removed, and there certainly is no clear answer on if they do get successfully removed what the timing of that is. I would recommend that you do not hold your breath, however, since it could be several reporting cycles.

Credit bureaus are only obligated to correct or remove inaccurate listings, not properly reported accounts or activity. This means that if you have bad credit, you probably will not get a loan while you try to improve your credit score.

You could dispute the inaccurate items on your credit report without the assistance of a credit repair firm such as Lexington Law Firm and Sky Blue Credit. However, like most professional services, you pay these firms to do the work for you and to provide professional advice based on their experience in working with other consumers in similar situations. I like to compare this service to people going to a tax preparer to have their tax returns completed; they could do it themselves, but prefer to hire a professional to save them time and to point out ways that they can save more money on their taxes. You certainly can dispute items on your credit report without professional assistance, but many consumers prefer to hire a professional to help them through the debt dispute process.

Generally speaking, the fees charged by these law firms for credit repair assistance are reasonable. Lexington Law charges $99 as an initial fee plus $39 per month. Sky Blue Credit charges $49 per month. Depending the value you place on your time, this is not much money considering the amount of time their services could save you, especially if you have many accounts on your credit report that need dispute.

Lexington Law Firm at a glance

Lexington Law is generally considered to be a reputable firm, but of course each consumer needs to do their own homework. I visited the company headquarters in Salt Lake City to see its operations in action and found it impressive. Lexington Law Firm has been in business since 1991 and they appear to have good systems in place. The company claims to employ 22 attorneys in 16 states, and is responsible for the employment of more than 400 paralegals and agents. Bills.com's readers are active in commenting about their experiences with Lexington Law.

Lexington Law's guarantee is as follows, "If we fail to provide the agreed-upon services to you (as outlined by your selected service level) for any given month, you will not be billed for that month, or will be refunded your fees for that month if your payment has already been processed."

Sky Blue Credit at a glance

I know less about Sky Blue Credit because I have not visited its offices. The company has been in business since 1989, and is based in Florida. One innovative and customer-friendly promise the company offers is a money-back guarantee, whereby it states, "If you are not satisfied we will refund your money in full." It is a a Better Business Bureau accredited business, and currently has no customer complaints on file.

Do-it-yourself

If you decide that you would like to dispute the inaccurate information on your credit report without the assistance of a professional credit repair firm, there are several steps you will need to follow. First, you should obtain a copy of your credit report from each of the three major credit bureaus–Experian, Equifax, and TransUnion. You can request free copies of your reports by visiting AnnualCreditReport.com or apply at Bills.com for your credit report. Once you have received copies of your reports, you should carefully review them to make sure that all listings, especially the listings appearing in the "derogatory" category, belong to you and are being reported accurately. Credit reports are notoriously inaccurate, with consumers frequently finding listings of derogatory accounts that never belonged to them or that were paid off years ago. As many as 70% of consumer's credit reports contain errors. If you find any inaccurate listings, you should dispute them with the appropriate credit bureau.

Recommendation

I cannot state if Lexington Law Firm or Sky Blue Credit offer superior services to the other. I know more about Lexington Law Firm from personal knowledge and by reading the comments offered by Bills.com readers. That is not to say that I recommend one over the other. I invite Sky Blue Credit customers to offer their observations in the comments below.

Generally speaking, I do not think the credit repair services firms are a "rip off." I think they can be quite helpful, depending on your needs and how much you are willing to pay for the time savings and experience these services provide.

To learn more about credit and credit reporting, I encourage you to visit the Bills.com Credit Resources page.

I hope this information helps you Find. Learn & Save.

Best,

Bill

Bills.com