Lexington Law — Credit Repair Review
Lexington Law is one of the most prominent credit repair companies in the United States. But with credit repair companies getting a bad reputation (thanks to unscrupulous businesses that do little more than “take the money and run”) it can be hard for consumers to decide whether or not credit repair is the right choice.
The FTC regularly warns about credit repair scams, and even provides a list of warning signs to help the average consumer make an educated choice. However, it’s important for those same consumers to realize that reputable credit repair companies like Lexington Law are not a part of the problem.
To help debunk the myth that all credit repair companies are scams, we will go line by line down the warning signs the FTC has on its site, and compare their warnings with the best practices and procedures performed by Lexington Law.
Understanding the difference will help you to understand why not all credit repair companies are the same, and will show that these scam practices do not occur in reputable credit repair agencies such as Lexington Law.
How Lexington Law Stacks Up
The FTC points out six major signs that indicate a company is “up to no good”:
- Asks for payment up front
- Doesn’t tell you your rights
- Recommends that you do not directly contact credit bureaus
- Tells you they can get rid of accurate & current negative information
- Suggests that you use an EIN to get a new credit identity
- Recommends disputing all negative information, even if accurate
Taking these items one by one, Lexington Law proves that not all credit repair agencies are scams.
- Lexington Law does not ask for any payment up front, and in fact only bills after the work you’ve agreed to has been completed.
- Lexington Law is very up front about your rights and what you can do to improve your credit. They don’t try to make it seem that you can’t go to the credit bureaus yourself, and they describe their services fully so that you can make an informed decision.
- Lexington Law contacts the credit bureaus directly on your behalf as part of the services they perform for you, but nowhere do they suggest that you cannot contact them.
- Lexington Law does not make any assertions that they can get rid of accurate and current negative information – they are all about disputing inaccurate information and helping you to improve your credit scores legally.
- Lexington Law does not try to get you to build a new credit identity – they work to clean up your current identity and deliver real results you can see in terms of deleted items on you report.
- Lexington Law specifically states that they do NOT recommend that any consumer (client or not) attempt to dispute items they know are accurate and timely.
Another important fact:
The credit bureaus are only required to investigate your dispute if they believe it is not “frivolous”. This means that the credit bureau is free to ignore any of your disputes that you file on your own, as they alone decide what constitutes a frivolous dispute. By hiring a reputable credit agency like Lexington Law, it makes it much more difficult for the credit bureaus to ignore your valid disputes on inaccurate information.
Lexington Law & Results
On the date of this writing, there are over 200 testimonials on the Lexington Law website from former and current clients that are getting positive results on their credit scores. In addition to that, Lexington Law also claims to have removed 1,297,226 items from credit reports in 2010 across all three credit bureaus.
While no credit repair company can guarantee results, Lexington Law has an impressive track record for helping consumers professionally and in a timely manner. In addition they offer a free credit consultation – something that the scammers just won’t do.
Who Should Choose Lexington Law
So if Lexington Law is a legitimate credit repair company, the question remains: is it the right choice for you? Fortunately, there are some easy questions you can ask to help you decide.
If you answered yes to even one of these questions, you could likely benefit from having a professional credit repair agency like Lexington Law help you get your credit score back on track.
The most important thing to remember is that you do have options. Bad credit is not something that you have to live with – there are things that you can do that will improve your scores and help you to have the kind of financial freedom you deserve.
Quality credit repair companies like Lexington Law provide a valuable service for consumers and can help them to get better results than going it alone. Don’t wait around for your credit to improve — the best thing you can do is to take the first step and start fixing your credit now, whether you do it on your own, or rely on a reputable credit repair agency like Lexington Law.