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Lexington Law Review - Will Credit Repair Work For You?

I recently hired Lexington Law Firm to help fix my credit and do credit repair. Are they good and can you please review them?

I recently hired Lexington Law Firm to help fix my credit and do credit repair for me. Are they good? I have seen a few complaints and even allegations that Lexington Law scam concerns are out there on the internet.  For my case, I have 10 negative items on each report for Experian, Equifax, and TransUnion. I thought they would challenge all of my negative items on all reports all at once. However they told me that they intentionally limit the number of items to protect their clients. They said the Fair Credit Reporting Act allows the bureaus to refuse to reinvestigate any challenges that they consider frivolous. One factor they use in determining a frivolous challenge is when a consumer challenges too many things at one time. They also said they found that limiting the number of items they challenged will avoid their clients challenges from being labeled as frivolous. Are they feeding me a bunch of bull or does this sound right to you?  Can you do a Lexington Law review?

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Updated: Oct 23, 2014

Bills.com | Find Learn Save
Highlights

  • Understand how credit repair works and if the service can help you.
  • Review Lexington Law's methods and standing.
  • Read hundreds of reviews and comments from readers about their experience with the Lexington Law credit repair process.

Since first writing our review of Lexington Law and evaluating their services in particular, and credit repair more generally, we received hundreds of comments from clients and consumers.

There is nothing any credit repair organization can legally do for you — including removing inaccurate credit information — which you can’t do for yourself, for free. However, you may decide it is worth paying an organization to take care of these matters for you. The fees can be substantial, ranging from hundreds to thousands of dollars.

The Credit Repair Organizations Act (CROA), a federal law, prohibits credit repair organizations from taking consumers’ money until they complete the services promised. It also requires such firms to provide consumers with a written contract stating all the services to be provided and the terms and conditions of payment. Consumers have three days to withdraw from the contract.

Credit repair is not effective for current, unpaid debts. Even if current debts fall off a credit report, they will reappear at the next reporting period. You need to before seeking to remove a debt from your credit report.

 

Image Source: Trinity Credit

Lexington Law Review

The activities of credit repair companies are constrained by the (FCRA) and the (CROA). Bills.com is not in a position to be able to verify whether Lexington Law Firm complies with these and other federal and state laws and regulations. Educate yourself about credit repair and the CROA before proceeding.

Under the FCRA, if a consumer credit reporting agency receives what it (in its opinion) deems as a frivolous challenge, then that credit reporting agency can ignore the request. Credit repair companies cannot guarantee success because creditors have such a large influence on what appears in a credit report. Also, the credit reporting agencies deal with so much data, it is a mix of art and science for a person or credit repair company to change or delete a listing on a credit report.

Lexington Law has been in business for quite some time. Any company with many clients over a number of years, such as Lexington Law, will generate complaints on consumer Web sites where readers claim the company is a scam. Of course, each consumer needs to do their own homework.

Lexington Law Firm cannot get you out of debt. Contact one of Bills.com’s pre-screened debt providers for a .

Letter of Deletion

Use a letter of deletion to request the removal of inaccurate information from a credit report. A sample letter of deletion is below, and we include instructions for how to submit it online at no cost.

No one can remove accurate and timely negative information from a credit report legally. The law allows you to ask for an investigation of information in your file that you dispute as inaccurate or incomplete. There is no charge for doing this on your own. If you paid the accounts in full and as agreed, then you can try to get them removed.

Following up with the credit bureaus might be a time-consuming proposition, depending on how many items you want to be removed. To get these items removed from your credit report you have two options:

1. Pay For The Services of a Credit Repair Firm

Lexington Law Firm is one of many a credit repair companies. Be careful about the firm that you choose and make sure that it is a reputable firm. Check with the Better Business Bureau to learn about the performance of a particular company. Do some research on the firm you will eventually do business with. By law, credit repair companies must give you a copy of the “Consumer Credit File Rights Under State and Federal Law” before you sign a contract. They also must give you a written contract that spells out your rights and obligations. Read these documents before you sign. The law contains specific protections for you. For example, a credit repair company may not:

  • Make false claims about their services
  • Charge you until they have completed the promised services
  • Perform any services until they have your signature on a written contract and have completed a three-day waiting period.
  • Suggest you mislead credit reporting agencies about your accounts or alter your identity to change your credit history

Your contract must specify:

  • The payment terms for services, including their total cost
  • A detailed description of the services to be performed
  • How long it will take to achieve the results
  • Any guarantees offered
  • The company’s name and business address

2. Do It Yourself

Bills.com offers a that can help you solve your debt problems on your own for free. Step one is to obtain a copies of your credit reports from the three largest consumer credit reporting agencies. Go to for no-cost, no-gimmick copies of your credit reports. Alternatively, call (877) 322-8228, or write to Annual Credit Report Request Service, P.O. Box 105281, Atlanta, GA 30348-5281. You may order your reports from all three nationwide consumer reporting companies at the same time, or you can order your report from each of the companies one at a time.

Check your reports for the action items. The three biggest bureaus allow consumers to dispute items online, but in most cases you will need a copy of the respective report and other information to do so. Once you are ready, contact the bureaus reporting the incorrect information:

Equifax Experian TransUnion
Dispute errors with the consumer credit reporting agencies directly. Source: Bills.com
800-685-1111 888-397-3742 800-916-8800

Sample Letter of Deletion

Tell the consumer reporting company, in writing, what information you think is inaccurate. Include copies (not originals) of documents that support your position. In addition to providing your complete name and address, your letter should clearly identify each item in your report you dispute, state the facts and explain why you dispute the information, and request that it be removed or corrected. You may want to enclose a copy of your report with the items in question circled. Your letter may look something like the following:

FTC Sample Letter of Deletion
Sample Letter of Deletion. Source: FTC

Date
Your Name
Your Address
Your City, State, Zip Code

Complaint Department
Name of Company
Address
City, State, Zip Code

Dear Sir or Madam:

I am writing to dispute the following information in my file. The items I dispute also are encircled on the attached copy of the report I received.

This item (identify item(s) disputed by name of source, such as creditors or tax court, and identify type of item, such as credit account, judgment, etc.) is (inaccurate or incomplete) because (describe what is inaccurate or incomplete and why). I am requesting that the item be deleted (or request another specific change) to correct the information.

Enclosed are copies of (use this sentence if applicable and describe any enclosed documentation, such as payment records, court documents) supporting my position. Please investigate this (these) matter(s) and (delete or correct) the disputed item(s) as soon as possible.

Sincerely,

Your name

Enclosures: (List what you are enclosing)

Conclusion

Credit repair will not erase or cancel unpaid debt from your credit reports. Clear your debts before trying credit repair.

Follow the steps above to dispute incorrect information on your credit reports. If the provider reports the item to a consumer reporting company, it must include a notice of your dispute. If you are correct — that is, if the information is found to be inaccurate — the information provider may not report it again.

Some Web sites provide kits for as little as $13.95 that contain letter templates and tips to help you repair your credit yourself. You can learn more about credit, credit scoring, and credit repair at Bills.com.

Generally we do not believe that firms like Lexington Law, Ovation Law, and other credit repair industry leaders are scams, even though they do have lots of complaints about them on consumer-complaint Web sites. Be sure to evaluate each company’s complaint volume against the size of its overall client base. Do your homework to ensure the monthly fee seems reasonable to you for the services promised. Many of the unhappy people who comment below failed to do their homework, and as a result were disappointed.

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

Best,

Bill

579 Comments

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  • DV
    Jul, 2014
    Dee
    Very good conclusion. I am a customer of Lexington Law. They can't help you if are not involved. If you are "Involved" in your credit repair process, I believe they can be of great help. But you've got to get involved. Know who your negative accounts are and attack them first. The more involved you get, the more involved they get. If you're not involved, nothing much is going to happen for you. Also, they WILL NOT fix your credit over night!
    2 Votes

  • CC
    May, 2014
    Chris
    If a collection agency is not registered in the state I reside in and they are reporting a collection on my credit report. Could i send a letter telling them to remove my information from my credit report of i will have to seek legal counsel?
    0 Votes

    • BA
      May, 2014
      Bill
      The location of a collection agent's headquarters or whether it is licensed in your state is not related to if a derogatory account can be published on your credit report. If the account is an accurate derogatory account, then it will remain on your report for 7 years after the date of first delinquency.

      Paying someone to remove it is no guarantee, by any means, it will be removed or stay removed. The FTC advises against hiring someone to remove an accurately reported derogatory account.
      1 Votes

  • DF
    May, 2014
    dolly
    is there anyway you can erase inquire from your credit report. went to a few car dealers and they ran my credit to multiple banks now I have low credit.
    1 Votes

    • BA
      May, 2014
      Bill
      Having multiple creditors make inquiries for the same financial product does not harm your score more than having one creditor check, if the inquiries are made within a short period of time. Different scoring models define "short period" differently, ranging in time from 14-45 days. If the inquiries were made within 14 days, you should be confident that even if all the inquiries show on your report as a hard pull inquiry, it only will have hit your score once. If the inquiries were made, then you will have to wait for time to pass for them to fall off your report. They cease to have an impact on your score after one year and fall off after two.
      0 Votes

    • AM
      Jul, 2014
      Austin
      I went to a dealership and it shows 14 hard credit inquiries in the same day from where they tried to find the best rate. I have a membership with each reporting agency and check my score and report daily. A week later my score dropped 14 Pts. from so many recent inquiries (which were all from the same day) but they were listed on my report separately. I recently applied for a loan and they turned me down for the high amount of recent inquiries from that car dealership sending my info to so many places. Without their inquiries I would have only had 3 hard inquiries in the last 2 yrs....so it definitely didn't count as 1. I tried contacting each credit bureau and disputing it for counting as individual inquiries with no luck. So I have now began writing a sympathy letter to each place. The sad thing is that I already had my bank that would've loaned me the money which I told the salesman in the first place! (And the worst part of all, I didn't even get the car...just actually seeing what my options were. (Stupid me huh!)
      0 Votes

  • AF
    May, 2014
    Anibal
    I have been working on my credit for along time and only have 4 accounts left in collections one being from a tow company for a vehicle that wasn't mine. Is there anything I can do to get that removed from my credit report?
    0 Votes

  • SY
    May, 2014
    Shauna
    I used a credit service back in 2012 to remove items from my credit report. I had a hospital bill that was $3931.00, and it was actually mine, but the agency was actually able to remove this item and others. This resulted in a great boost to my credit scores. HOWEVER, it has re-surfaced as of today. How is this possible, and is there anything that I can do? I'm not even sure how he got them to remove it. I'm so afraid that this is going to affect my credit score, and this is a particularly bad time because I'm moving to another city. I will be applying for jobs and filling out applications for rental properties. What can I do?
    0 Votes

    • BA
      May, 2014
      Bill
      When did the hospital bill in question become delinquent? If it became delinquent more than 7 years ago, then it should no longer appear on your credit reports.

      If the 7-year clock still has time remaining and you never resolved the debt, then you were lucky to have this account off of your credit report for as long as you did.

      Bills.com recommends consumers use the dispute process after they resolve the account in question. If the debt is unresolved, the collection agent or original creditor have a lot of motivation to see the account return to your credit report because they can use this as leverage in their negotiations to encourage you to pay the loan.

      There is no, "once off always off" rule in the Fair Credit Reporting Act, which sets the rules everyone must follow in the credit reports world.

      What to do? There is no quick-fix here. If the statute of limitations clock on this account has not run out, negotiate a settlement with the collection agent. Start at 10 cents on the dollar and work up from there. A resolved account looks better to creditors than unresolved accounts. However, FICO does not reward consumers for paying old accounts, so do not expect any improvement to your FICO credit score if you settle the debt.

      If the statute of limitations clock on this account has run out, then the creditor has no legal means to force you to pay the debt.
      0 Votes