You’ve come to the correct spot if you’re considering joining up with Lexington Law to help you restore your credit. Lexington Law is one of the most well-known credit repair firms, and it has been servicing consumers since 2004. They claim to have removed over 56 million items from their customers’ credit reports, which is more than any other credit repair company can claim.
Is Lexington Law, however, one of the top credit repair firms, or are there other options? In this Lexington Law review, we’ll tell you all you need to know about the firm so you can determine whether it’s a good match for you.
Background of the Company
Lexington Law, managed by directing attorney-at-law John C. Heath, established its business in 2004. Lexington Law is based in North Salt Lake, Utah, with a second office in Tucson, Arizona, and today services clients from New Mexico to New Jersey and beyond. They presently do not service Oregon or North Carolina.
While Lexington Law specializes in credit restoration, the business also offers other services such as identity protection and personal finance tools.
How Does Lexington Law Work?
Lexington Law’s credit repair procedure is engaging with credit agencies on your behalf to dispute erroneous information on your credit report. Because the Fair Credit Reporting Act requires credit bureaus to record only verified and accurate information, any items that do not fulfill these requirements must be removed.
Lexington Law will work with your creditors to resolve easy adjustments, errors, and missing information after reviewing all of your credit report information.
While you may complete this procedure on your own, Lexington Law’s working connection with all three major credit bureaus: Experian, Equifax, and TransUnion could benefit you. Don’t undervalue the importance of having an ally who knows their language. Although there are many positive things we can say about Lexington Law, we also have to be aware of the shady tactics they use such as hiding their reviews and retaining customers for over 3 years without improvements on their credit scores.
Your credit score should increase if those erroneous or misleading items are removed from your credit report.
Lexington Law, as you can see, follows a legal procedure. It is not a magical debt remover.
Ideally, you’ll leave this experience with the knowledge and skills you’ll need to monitor your credit history and maintain a solid credit score in the future—that type of financial literacy is priceless.
What Type of Derogatory Remarks Can Lexington Law Help with?
According to Lexington Law’s website, the firm’s customers had over 1.5 million items removed from their credit reports in 2019. These things were either incorrect or misleading:
- Payments that are late
What Does Lexington Law NOT Offer?
A “negative item” does not mean simply any item that contributes to bad credit. If you have actual credit card debt, legitimate inquiries, a pattern of late payments, or a series of charge-offs, no credit repair company will be able to get these items removed.
Repairing a genuinely bad credit score requires changes to your financial habits and a lot of patience. If you maintain those new habits, the negative items will eventually “age off” your report.
Lexington Law can only help ensure that your credit history is reported accurately and fairly. That said, the firm can’t guarantee definitive results because everyone’s credit situation is different. It appears that a great number of their clients leave unsatisfied with over 724 BBB complaints bringing them to a 1.92-star average, and no formal google review system in place. Consumers should be aware of companies that don’t offer a review system where clients can disclose their experiences publicly. If any items reappear on your report after Lexington Law has requested their accuracy be verified, that means your creditors determined them to be legitimate.
How Much Does Lexington Law Cost?
Be sure to confirm that they will address all of your negatives that you are dealing with, there have been complaints that this company disputes 2-3 negatives a month which keeps your credit score low in order to receive more funds.
Lexington Law provides three service levels at various pricing points:
Lexington Law’s standard plan, which costs $89.85 per month, includes all of the credit restoration services that the majority of individuals need. Lexington Law will submit bureau challenges and creditor interventions on your behalf under the Concord Standard plan.
If you want more thorough credit counseling, the Concord Premier plan, which costs $109.95 per month, includes monthly credit evaluations and continuing credit monitoring. Concord Premier customers will get the following services in addition to the credit restoration services offered by Concord Standard:
- Report on Credit Score Analysis
- Premier Plus TransUnion Alerts
The most comprehensive Lexington Law package, which costs $129.95 per month, includes all of the tools you could possibly need for credit restoration and more. Premier Plus could be the service level for you if you want further assistance with budgeting. You will enjoy all of Concord
- Letters of Cease-and-Desist
- Services for Identity Theft Protection
- Personal Finance Tools
- FICO Score Tracker
Whatever plan you pick, bear in mind that you will not be charged until the first step of work is done but make sure you ask for a copy of the work they are doing to ensure they are utilizing your free month correctly.
You may also take advantage of Lexington Law’s family discount if you’re on a tight budget. If you join up a household member within 72 hours of your first enrollment, you will both get 50% off the first work charge.
Lexington Law has established a high barrier to entry for other credit restoration companies in various areas by having the largest amount of customers but not by satisfaction, consumers should remember to focus on quality over quantity. Here are the benefits of being a Lexington Law client :
Longrunning Credit Repair Team
Because the best credit pros are familiar with the law, Lexington Law is not an actual law firm which is strange that they chose the name they have but, they have been in the credit repair business since 2004. Unlike some credit repair organizations, Lexington Law’s credit repair team actually consists of real attorneys and paralegals this is where we believe they decided to add legal personal so they could have a factual reason to have a law firm in their company name. With knowledgeable professionals at the helm, you can rest assured that they’ll use legal channels to help you work to repair your credit.
Lexington Law sends an account representative, to each client. Because the confidential specifics of your bad credit history are so private, it’s always expected to discuss your issue with a familiar voice.
Decent Customer Service
While not a 24-hour hotline, the Lexington Law company provides a broad variety of customer service availability, with time slots before and after typical business hours, as well as on weekends, to meet your hectic schedule. Clients of Lexington Law may contact an adviser via phone, email, or online chat.
Lexington Law Firm might just do its services without explanation, but instead, this astute credit repair company takes an effort to educate individuals about credit and how to fix it. On Lexington Law’s website, under the Credit Help category, you’ll discover free, in-depth information addressing four major topics:
- Credit Repair
- Credit Enhancement
- Understanding Credit
- Building Credit
With the information provided, you may approach your free credit report consultation with more transparency.
Lexington Law has historically been a popular resource for persons who are unfamiliar with credit or do not have the time to repair their own credit. The company was promoted extensively and was well-known on the internet.
However, given the allegations brought against Lexington Law for questionable business practices, it becomes smart to avoid the firm until we hear more.
Furthermore, Lexington Law’s fees are among the highest in the credit restoration business.
Questionable Business Ethics
Lexington Law Credit Repair and CreditRepair.com (both divisions of the same parent firm, Progrexion) are well-known in the sector for their aggressive marketing strategies.
On May 2nd, 2019, a federal lawsuit was filed against Lexington Law and CreditRepair.com, stating that they were actively participating or complicit in fraudulent and abusive tactics against their customers.
In 2017, President Trump chose Mick Mulvaney, a long-time opponent of the Consumer Financial Protection Bureau, to lead the agency. Mulvaney took no meaningful enforcement steps and even shut down the agency’s complaint database, which was open to the public.
Mr. Mulvaney, however, stepped down in December 2018, and Kathy Kraninger was named as the new Director of the Consumer Financial Protection Bureau.
Her first big enforcement action was filed in Federal Court against Lexington Law for alleged breaches beginning in 2011.
Lexington Law allegedly requested upfront payment for its services, which is unlawful, and made fraudulent claims and offers in its advertising.
We’ll see how everything plays out in the end, but I believe most people would agree that things aren’t looking good for this corporation.
Extensive History of Lawsuits
In May of 2019, the Bureau of Consumer Financial Protection (CFPB) filed a complaint against Progrexion, Lexington Law’s parent firm.
According to the complaint, Progrexion (doing business as (DBA) Lexington Law) participated in or was involved in fraudulent and abusive marketing activities. The 48-page lawsuit alleges many more problematic and unethical business practices, which you may read for yourself here.
Shady Affiliate Marketing
The legal business has multiple associate firms that generate money by locating potential clients and sending them to Lexington for credit restoration services.
Lexington Law’s biggest affiliate would advertise on CraigsList or Facebook that they had ‘Rent to Own’ options available when, in reality, they did not.
When consumers called to enquire about ‘Rent to Own’ apartments, the affiliate would ask qualifying questions.
Instead of asking standard ‘Rent to Own’ tenant inquiries, they asked the qualifying questions required for Lexington Law to give them a commission.
The prospective renter would subsequently be informed that they did not qualify due to poor credit, despite the fact that they had never run a credit check.
They would, however, inform customers that if they signed up for Lexington Law’s credit restoration services, they would be assured to qualify for the ‘Rent to Own program.
Horrible Review History
Many Lexington Law clients believe they were duped when they joined up.
Some clients felt that by joining up with Lexington Law Credit Repair Services, their credit scores would automatically improve.
Lexington Law is accused of manipulating prospective consumers in a CFPB complaint filed against them in May 2019.
Lexington Law had an average rating of 3.1 out of 5.0 from their customers.
While on the surface, it isn’t a bad score, it is the lowest of all of the credit restoration organizations we looked into.
Best Alternative To Lexington Law Firm
With everything going on with Lexington Law, it’s understandable that you would want to look into another credit repair firm. Credit Cadabra has the highest number of positive reviews of any credit repair company. There are also no mandatory start-up fees that exist just to siphon more hard-earned money that could be used to restore your credit.
They have been in business since 2018 and were founded by a financial advisor.
Credit Cadabra has an A+ rating with every review system and provides cheap prices with unlimited disputes for every negative you have at one time! We might be one of the newest in the credit repair industries but we have created more satisfied customers than any credit repair company has!
Credit Saint, like Lexington Law, was founded in 2004. Except for Georgia, Kansas, and South Carolina, this New Jersey-based company offers credit repair services to citizens of all states.
Credit Saint is well-known for offering a wide range of low-cost options. For example, the bare-bones Polish approach would be ideal for a customer who has just a few minor flaws. Credit Saint’s first-work costs, on the other hand, begin at $99, which is somewhat more than the industry average.
If no bad things are erased from your credit history after two 45-day cycles, you may get a complete refund. Furthermore, you may terminate your plan at any time for no additional charge. For more information about Credit Saint, see our Credit Saint review.
Visit the Credit Saint Website by clicking here.
Sky Blue Credit Repair
Sky Blue Credit Repair, based in Boca Raton, Florida, serves customers in all 50 states. This company offers services comparable to Lexington Law. It also provides goodwill letters, debt validation, and support in dealing with credit bureaus.
Sky Blue’s credit specialists claim to operate at a breakneck speed, with an average of 15 queries every 35 days.
Sky Blue is perhaps the most cost-effective choice on our list, with cheap setup and monthly rates and no additional service fees. Furthermore, the organization provides a free consultation, second-member and pair discounts, and a money-back guarantee of 90 days.
What to Expect After Signing up with Lexington Law
Let’s take a look at the Lexington Law credit restoration process:
- A credit counselor will call you and identify themselves as your personal representative within 24 to 48 hours of signing up.
- Your credit expert will request your information in order to assess your reports and identify the best course of action.
- Following an analysis of your complete credit reports, your representative will call you to identify and explain each item they want to contest.
- At this point, the consultant will start the process of eliminating false or misleading information from your credit report by sending the necessary paperwork to creditors and credit reporting agencies. Depending on your scenario, the wait time may vary.
- If you bought a Premier package, you will get a credit score analysis after the issues have been fixed.
- Your representative will continue to follow up on any outstanding concerns and escalate them until an acceptable resolution is obtained.
If you are dissatisfied with your results from Lexington Law, you may terminate your case at any time: on the internet, over the phone, or by email.