Every adult in North America has probably heard of the two words “credit score”. It affects many important aspects of modern life. From the moment we open our first charge account, we enter into the world of credit. It’s like a living, breathing animal following each of us around in the shadows before jumping out into the light every now and then to either help us or hurt us.
FICO – The 800-Pound Gorilla
The main source of information for many credit scoring companies is a company known as “FICO”. FICO stands for Fair Isaac Corporation. This company started using formulas for calculating credit risk back in the late 1950′s and became the model after which the other three companies took their lead. FICO uses a proprietary formula to calculate the likelihood of repayment for every person with a credit history. Even though the exact formula isn’t known, we do know what the credit score factors are.
Why A Credit Score Is A “Snapshot”
Each consumer’s behavior changes over time and when a lender or insurance company makes an inquiry into a person’s risk profile, they get a “snapshot” of that individual’s situation because it constantly changes. Each time a consumer opens a charge account their score changes. Each time a consumer misses a payment on a credit account, their score changes. When a consumer pays off a debt, their score changes again. Over time, the exact number goes up and down a thousand times. What’s important to understand is where a person’s credit score is at any given time and what can be done to improve that score.
Good and Bad and Places In-Between
Because of constant fluctuation of about 20 points around an average score, consumers should try to be aware of where their credit score sits and what can be done to increase the number as high a level as possible. Good credit means consumers pay lower interest rates on loans, get cheaper insurance coverage and have improved job opportunities. A good score saves money, provides better rates and can even help get a really good job. Bad credit means the opposite to the above will occur and more. Bad credit affects lifestyle and opportunity. No one wants a low credit score that’s the result of bad credit actions, but they happen and in today’s economy, they happen more and more frequently.
Can Bad Become Good?
Yes. Bad credit scores can improve through the diligence of the consumer using good credit habits, making payments on time, not over-borrowing and maintaining low credit balances in their credit accounts. But there’s a catch – bad credit takes a long time to become good credit while good credit can become bad credit very quickly. Thankfully, there are solutions to changing bad credit scores into better scores. The solution is called a credit repair company. Credit repair involves a process of challenging, validating, and verifying the accuracy of information contained in each of the three main consumer credit rating bureau’s data so that only the data which helps the score stay high is retained and the bad information which lowers a credit score is eliminated.
Credit Repair Options
Consumers can attempt to repair their credit on their own, however, the process is rather complicated – involving debt validation letters, challenging information contained in each of the three credit bureau’s databanks, verification of debt from creditors and other time-sensitive procedures which, if not done properly, can actually result in a lower score rather than the hoped-for higher score. Most consumers turn to a credit repair company which can perform the intricate tasks associated with repairing credit with greater control and higher success rates. Where consumers can get sidetracked is deciding which credit repair company can really help them improve their credit score and which company is just going through the motions without concern for the end result.
The Best Credit Repair Option
Obviously, among the hundreds of companies offering credit repair services, there’s going to be one company which stands out from the others. That company will have many years of experience dealing not only with the credit bureaus, but also with the multitude of creditors submitting information to the bureaus and even the nefarious “debt purchasers” who prey upon consumers buying their delinquent accounts from creditors for pennies on the dollar and then using less-than-honorable tactics to intimidate, cajole, and coerce consumers into paying more for those debts than they really should. There is only one company with 20 years of experience dealing with credit repair and there is only one company with over 500,000 satisfied clients. That company is Lexington Law.
Who is Lexington Law?
Lexington Law is a legal firm that specializes in helping consumers repair their bad credit. Instead of simply being a credit repair group (like the ones your hear advertised on TV and the radio), Lexington Law is, in reality, a law firm which specializes in being a consumer advocate. A lot of people have the opinion a law firm has the pull to get creditors to listen when it speaks. Lexington knows the laws which govern credit reporting and they use that knowledge to help consumers improve their credit scores as much as possible.
Lexington Law is the biggest law firm specializing in credit repair. They have a large team of lawyers, paralegals, and financial experts who know everything there is to know about how to help you improve your credit score, so that you don’t have to be bound by bad credit. Lexington Law has been helping consumers escape the woes of bad credit for 20 years and they have helped remove millions of negative items from people’s credit reports. More than half a million clients have entrusted Lexington Law to help improve their credit scores.
What Can Lexington Law Do For You?
Lexington Law assists their clients by pursuing creditors to make sure the items reported on their credit reports are accurate. Companies that grant credit to consumers make mistakes all the time – and Lexington seeks out those mistakes and demands they are removed from their client’s credit report. Lexington is relentless in this endeavor as they comb through their client’s credit reports. All it takes is a single stroke of a pen or click of a mouse for credit companies to damage consumer’s credit scores for up to seven years. Lexington Law places the burden of proof back where it belongs – on the credit companies. It’s simple – if a creditor cannot prove you owe them money, the negative item is removed from your credit score. The more negative items removed from your credit report, the more your score will improve.
I Was Helped Tremendously by Lexington Law
I lost my job and as a result I went through some tough times a while ago. Looking back, it was probably the toughest period of my life so far. Between losing my job and going through some other related events, the process left me essentially penniless and I found myself unable to pay some of my bills. Those bills continued to pile up and my credit score plummeted. Finally I decided bankruptcy was my best option for moving forward.
Having a low credit score during this difficult period proved to be a major impediment to me moving forward with my life, so I decided to do something about it. I had heard about Lexington Law from a friend and decided to give them a call. On the phone, I found out about what some of my options were. I decided that I try to repair my bad credit – with the help of Lexington Law. I called the 1-800 number at the site (800-220-0084) and spoke to a credit expert who was very friendly and understanding of my situation.
Once I signed up through the easy process, I was able to see an improvement in my score after only a couple months. Over the first year, my score climbed steadily and it keeps on improving every time I check it. Lexington found there were several errors with my credit report and they went to bat for me to get those items removed. It was so nice to actually have options again concerning what kind of car I drove and what kind of house I lived in. When you have bad credit, you have to take whatever people will give you. With good credit, many more opportunities open up.
I cannot say enough about how much Lexington helped me out. I would never have been able to get out of my financial situation without their help. I wouldn’t have known where to start. It was great to have a team of professionals stepping up to the plate and going to bat for me. Now, whenever I hear a friend is trying to improve their credit score, I suggest they give Lexington Law a call.
Lexington Law Helped Remove Charge-Offs From My Credit Report:
MY ONLY REGRET IS NOT SIGNING UP SOONER!
My credit scores have dramatically improved since there are no longer any negative accounts on my credit report. Here is a snap shot of my credit scores since I signed up with Lexington Law:
Lexington Law Client Testimonials:
“You [Lexington's client advocate] are probably the most kind and professional person I have EVER had the pleasure of working with online, or in person for that matter. You are a true asset to your company. If you ever move to Tampa and need a job, I would LOVE to have you in our customer service department.”
— M., Lexington client
“You folks made this credit cleansing experience a pleasant one for me. With regard to how I feel your firm’s services could be improved, I’m not sure I have much to add. The way you folks do business … should be a model to other businesses on how to conduct business on a customer service level … never was I treated with anything less than respect, cordiality, and integrity. Thanks to you and those whom you represent for your professionalism and the services you render us … the public!”
— R.A., Lexington client
Discount for Couples
Lexington Law is now offering $50 off the initial fee when you and your spouse sign up together. The discount will be applied after the second sign-up is complete.
Ready to Get Started?
Call 800-220-0084 for a free consultation and complimentary credit score or fill out the form below and a representative will call you shortly.