Securing a loan for a vehicle, mortgage, or any other personal purpose can be quite challenging without a good credit score. And sadly, attempting to reform your credit score all by yourself is an even more challenging process that involves exhaustive timelines and many complex rules.
Luckily, there’s no need to tackle the task of reforming your credit score alone, as there are many credit repair services that you can resort to for professional help.
Among the most prominent credit repair services today is Lexington Law. In fact, they’re one of the pioneers of the profession, having been in the credit repair business since 2004.
If you’re looking to repair your credit score and you’re wondering whether or not Lexington Law’s services work, this article is for you. We cover everything you need to know about the company, from how their services work and their pricing plans to the quality of their customer service and more.
Lexington Law Overview
Lexington Law was founded in 1991 as an actual law firm, which is one of the reasons why it’s so trusted by consumers in all 50 states. The Utah-based firm began focusing on providing credit repair services in 2004, offering different service tiers for different needs.
Lex Law helps consumers eliminate unjust or unverified items that negatively impact their credit history for a monthly fee. Their process has proven highly effective, leading to a healthy credit score in only a few months.
Not only does the firm help rejuvenate your credit score, but it also provides you with the skills and tools required to help you monitor your credit history so that you’re able to maintain it.
Over 500,000 consumers have resorted to Lexington Law’s services to help reform their credit history, which doesn’t come as a surprise considering they provide fair and accurate reporting, more so than other credit repair competitors, not to mention that it’s an actual law firm!
The firm is so efficient at what they do to the extent that in 2017, it was reported that they’ve helped their clients remove over 10 million negative items. In addition, on a daily basis, they work closely with a host of licensed attorneys who are well-versed in consumer law, consumer advocacy, and credit reporting practices, so you can rest assured that they aren’t a scam.
However, it’s essential to keep in mind that Lexington Law’s services are by no means a magical solution that’ll improve your credit history in a trice; time and patience are required for their services to reap results.
In addition to credit repair services, the law firm offers various other related services like credit monitoring and a neat credit app. You can also find many useful credit-related resources on their website.
How Does Lexington Law Work?
Simply put, Lexington Law helps clients improve their credit history by working closely with credit bureaus to challenge negative or inaccurate items that show up on credit reports.
The process of challenging negative or inaccurate items involves a few phases. The very first phase is the verification of the information presented in credit reports. You basically get a copy of your report and resort to Lexington Law for consultation. The paralegals and attorneys at the firm will help you determine the items that can be contested.
As you probably know, credit bureaus are required by the Fair Credit Reporting Act to record only accurate and verifiable information. Therefore, if the negative items on your report don’t meet these conditions, they’re to be removed.
After identifying negative or inaccurate items on your credit report, Lexington Law will send out letters to the credit bureaus. The letters will entail having all negative or inaccurate items removed.
If the main reasons behind your poor credit score are negative or inaccurate items, you’ll notice a significant difference in your credit score within only a couple of months of hiring Lexington Law.
Please note that this whole process can be carried out individually without the help of credit repair services. But still, there are benefits to resorting to Lexington Law, the most notable being the firm’s close relationship with all three credit bureaus: Equifax, Experian, and TransUnion.
By resorting to Lexington Law, you’re basically hiring an influential ally that’ll speak the unions’ language on your behalf. By having Lexington Law send your cease-and-desist letters, the chances of these letters being of avail are pretty high.
Once again, Lexington Law’s process is entirely legitimate, but it takes time and patience. So don’t think of it as a magical solution that’ll eliminate all your credit problems. After all, anything that’s worth having doesn’t come easy.
Lexington Law Cost
Lexington Law provides three service tiers for different consumer needs; each offered at a different price point. The tiers are Concord Standard, Concord Premier, and Premier Plus.
Before we discuss what each plan has to offer, we feel the need to point out that you won’t have to pay a single dime until the first phase of work (verification) has been completed.
Another thing worth pointing out is that the firm offers a family discount. Basically, when you get a member of your household to sign up for a Lexington Law membership within 72 hours of your signup, both of you become eligible for a 50% discount off your very first monthly fee.
With that said, let’s discuss each pricing plan in detail to understand the major differences between them.
The Concord Standard, Lex Law’s most basic plan, costs a monthly fee of $89.85 and provides virtually all of the credit repair services one may need, if not more.
The Concord Standard plan will enable you to file credit interventions and bureau challenges with ease and grace, with Lexington Law’s paralegals and attorneys as your representatives.
The Concord Premier plan is designed for clients looking for more intensive assistance with their credit history. The plan costs $109.95 per month and offers ongoing credit monitoring and monthly credit analysis.
The Concord Premier plan offers all of the services that come with the Concord Standard plan, in addition to Credit Score Analysis, InquiryAssist, TransUnion Alerts, and ReportWatch.
The Premier Plus is Lex Law’s most comprehensive plan, priced at $129.95 a month. When you subscribe to this plan, you gain access to all of the tools required to repair and maintain your credit score.
This plan is perfect for people who need help planning their finances. The plan offers everything the Concord Premier plan provides, in addition to Identity Theft Protection, Personal Finance Tools, Cease-and-Desist Letters, and a FICO Score Tracker.
Pros of Lexington Law:
Personalized Financial Counseling
The way Lexington Law assigns clients with reps is the furthest it can be from random. As a result, you don’t have to worry about talking to a different paralegal every time you reach out to the firm.
Each client is assigned a single account representative, typically a paralegal. That way, clients don’t have to share the intimate details of their credit history with many different personnel, which further ensures that your information is kept confidential.
Team of Experienced Paralegals
When it comes to dealing with credit-related companies, it’s best to opt for one that’s very familiar with the law. Being an actual law firm, Lexington Law is one of the most qualified firms to handle credit affairs, especially when you consider that they’re in close contact with the three bureaus.
Lexington Law stands out from other credit repair organizations because their team consists of experienced attorneys and paralegals, which guarantees the proper utilization of the correct legal channels to help clients get their credit history improved and their financial affairs in order.
Plenty of Educational Resources
Lexington Law is different from other credit repair organizations in the sense that they don’t just carry out their services without explaining to their clients what it is they do exactly.
The Lexington Law team makes an effort to inform the firm’s clients about how credit works and how they can monitor it and maintain it.
Upon visiting Lexington Law’s website, you’ll find a tab labeled “Credit Help.” If you click that tab, you’ll find in-depth articles that cover everything you need to know about credit, including understanding credit, fixing credit, building credit, and improving credit.
Highly Reliable Customer Service
Compared to other credit repair companies, Lexington Law’s customer service team is second to none, offering customers a wide range of services during time slots that are both after and before business hours.
Lex Law’s customer service line isn’t strictly available 24/7, but it’s available for most of the week, including weekends, to accommodate people with busy schedules. And in addition to the firm’s phone line, you can get in touch with a Lexington Law adviser via online chat or email.
Services Aren’t Cost-Prohibitive
Despite being one of the leading credit repair organizations, if not the leader of the profession, Lexington Law’s services are all fairly priced and far from cost-prohibitive.
Like we already discussed, the firm offers three pricing tiers to accommodate most budgets. The most basic plan, the Concord Standard, will get the job done no matter how dire your credit situation is. But, of course, the lower your credit score, the more time and patience the process will take.
Cons of Lexington Law:
C Rating on Better Business Bureau
You’d think that a law firm as prominent as Lexington Law is accredited by the Better Business Bureau (BBB), but to our surprise (and probably yours), it isn’t. In fact, the firm has a C rating!
This garnered the firm a few complaints from clients who thought they’d be getting guaranteed results once they aligned themselves with the firm’s financial services.
But like any legitimate firm, Lexington Law isn’t running some sort of scheme. So they don’t promise guaranteed results, which makes total sense considering that each credit situation is different and has its own needs.
The firm does promise legitimate solutions that have proven extremely effective over their years in business, which is why the firm has a notably high rating on Observer.com.
It’s also worth noting that the firm does a great job of addressing virtually all client concerns, be it on their BBB profile or credit-related forums.
Extra Credit Reports Cost More
Another minor drawback is that monthly credit reports cost an extra $14.95. The fee is paid for every extra credit report you request. This is the case only with the Concord Standard plan, though.
Do bear in mind that the three credit bureaus provide annual reports for free. Also, there are apps, such as Credit Karma, that’ll provide you with a credit report for free. So, there’s really no point in opting for a higher tier plan just for the sake of saving money on credit reports.
Lexington Law Credit Repair Reviews
Lexington Law has one of the highest ratings among all credit repair services available, thanks to the positive reviews they regularly garner on Observer.com, BestCompany.com, and others.
We recommend checking out these reviews before deciding to resort to the firm just to see for yourself that they’re highly efficient at what they do. We’d also suggest taking negative reviews with a grain of salt, considering most of them are centered around the firm’s BBB rating.
So, does Lexington Law work? The answer is absolutely! But like we stated earlier, each credit situation is unique and may require dealing with different legal channels. So you can’t really expect Lex Law’s solutions to provide guaranteed results.
What you can expect is a highly experienced team of attorneys and paralegals to do their very best to improve your credit situation. You can also expect a very influential ally that’ll speak on your behalf when dealing with the three credit bureaus.