Kara Sears
Lexington Law is a credit repair firm that has been in operation since 2004. It offers a range of services to help clients repair their credit scores, including challenging inaccurate or questionable negative items on their credit reports, providing guidance on improving credit scores, and intervening with creditors and credit bureaus. While some customers have praised the company for improving their credit scores and providing helpful guidance, others have complained that the service did not improve their credit score and was a waste of money. Lexington Law has also faced legal troubles, including lawsuits and settlements related to deceptive marketing practices and illegal collection of upfront fees. Overall, while Lexington Law may be able to help repair your credit score, there are mixed reviews and it is important for individuals to carefully consider their options and understand their specific needs before engaging any credit repair service.
| Characteristics | Values |
|---|---|
| Date founded | 2004 |
| Number of active clients | 450,000 |
| Services offered | Credit repair, creditor intervention, debt management |
| Results | 72% of clients saw an improvement in their credit score, with an average increase of 40 points |
| Pricing | No money-back guarantee, family and military discounts available |
| Legal troubles | Yes, multiple lawsuits and settlements |
| Customer reviews | Generally positive, 3.8 stars on Consumer Affairs |
Explore related products
What You'll Learn
Lexington Law's ability to repair credit scores
Lexington Law is an established credit repair company that has been operating since 2004. The company offers a range of services to help improve your credit score, including a free credit assessment and personalized strategies for credit score improvement.
One of the key features of Lexington Law's credit repair service is its ability to dispute and challenge inaccurate or questionable negative items on your credit reports, such as late payments or collections. The company has a team of lawyers, paralegals, and other credit repair experts who are familiar with consumer protection laws and have contractual agreements with multiple credit bureaus. They will send correspondence and creditor intervention letters on your behalf to dispute these items and work with creditors and credit bureaus to correct any inaccuracies.
Lexington Law also provides clients with a monthly report detailing the companies they are working with and the actions they have taken. The company offers various service levels, with the strength and amount of credit repair increasing with each upgrade. Additionally, they provide educational resources and support throughout the credit repair process, ensuring a comprehensive approach.
While Lexington Law has helped many clients improve their credit scores, it's important to note that credit repair is a joint effort. Clients must continue to pay their bills on time and use credit responsibly alongside Lexington Law's interventions to see an improvement in their credit score over time. There have also been complaints about the service's effectiveness, with some noting that their credit score did not improve despite utilizing Lexington Law's services.
Overall, Lexington Law provides a legitimate and comprehensive credit repair service. However, it is important for individuals to understand that repairing a credit score takes time and there is no quick fix.
Permanent Residents: Leaving the US, What's Allowed?
You may want to see also
Explore related products
The limitations of Lexington Law's services
Lexington Law is a credit repair firm that assists clients in addressing inaccurate or questionable items affecting their credit score. The company has been in operation since 2004 and has helped clients remove over 83 million items from their credit reports.
However, despite its experience and success, Lexington Law's services do have some limitations. Firstly, the firm does not offer a money-back guarantee. While some credit repair companies offer refunds if they are unable to improve a client's credit score within a specific period, Lexington Law does not provide this assurance. This means that clients assume the risk of potentially paying for services that may not yield the desired results.
Secondly, Lexington Law has a limited number of challenges within each cycle. While some credit repair companies offer unlimited or more challenges to creditors, Lexington Law offers a set amount, which may not be sufficient for clients with more complex or extensive credit repair needs.
Additionally, Lexington Law has faced legal troubles and has been the subject of lawsuits. In 2019, the Bureau of Consumer Financial Protection alleged that Lexington Law and PGX Holdings engaged in deceptive marketing campaigns. The company was also included in a $2.7 billion settlement with the Consumer Financial Protection Bureau, along with other companies, for violating federal telemarketing laws and consumer protection laws. These legal issues have raised questions about the company's ability to operate in the future.
It is also important to note that credit repair is a joint effort. While Lexington Law can provide guidance and challenge inaccurate information, clients must also take responsibility for improving their credit score by continuing to pay their bills on time and using credit responsibly. Without these complementary actions by the client, the effectiveness of Lexington Law's services may be limited.
Lastly, while Lexington Law offers various service levels, the higher price tags for upgraded services may not be worth the additional cost, as several of the services offered can be achieved for free or through other means.
The President's Power: Revoking Federal Laws
You may want to see also
Explore related products
$18.9
Customer reviews of Lexington Law
> Lexington Law is amazing. I was using a more private company and initially, I felt it was gonna be a rough time to get started with Lexington Law, but it wasn't. It was really easy...
On the other hand, there are also a significant number of negative reviews, with some customers complaining that the service did not improve their credit score and was therefore a waste of money. Reviews on Trustpilot and WalletHub, for example, have described Lexington Law as "the bottom of the barrel", "unprofessional and lacking knowledge", and a "waste of time".
Some customers have also complained about being charged fees even after cancelling their subscription, and about the limited number of challenges Lexington Law offers within each cycle. However, it is important to note that credit repair is a joint effort, and consumers must continue to pay their bills on time and use credit responsibly alongside Lexington Law's services to see an improvement in their credit score.
How Doral Anti-Corruption Laws Apply to Other Countries
You may want to see also
Explore related products
The cost of Lexington Law's services
The cost of Lexington Law's credit repair services ranges from \$59.95 to \$139.95 per month, with three core service levels to choose from. The price varies depending on the level of service and the strength of credit repair required. The most basic plan, Lexington Essentials, costs \$59.95 per month and includes two creditor interventions per month. The Concord Standard plan costs \$99.95 per month and includes three creditor interventions and assistance with bureau and creditor challenges. The most comprehensive plan, Concord Premier, costs \$119.95 per month and offers monthly credit report analysis and monitoring.
Lexington Law also offers a free online credit assessment, which provides information on how credit scores are calculated, how to read credit reports, and simple steps to improve one's credit score. This free service allows individuals to attempt to repair their credit reports on their own, which can be a time-consuming but rewarding process.
Lexington Law's first work fee is charged 5-15 days after signing up and is separate from the monthly billing cycle. This fee covers the initial setup of the account, including gathering credit information, helping to choose challenge reasons, and creating a custom plan. The monthly bill is charged 30 days after the first work fee and covers the bulk of the work, such as pulling updated reports, monitoring credit, and reviewing responses from bureaus.
It is important to note that Lexington Law does not require a contract, allowing customers to cancel anytime without being charged for the next month. If an individual cancels partway through the month, they may be charged a prorated fee for the services already performed.
While Lexington Law does not offer a money-back guarantee, it provides a range of services to improve credit scores and overall creditworthiness. The firm uses various legal strategies to challenge inaccurate or incomplete information on credit reports and provides credit counselling and education to help individuals manage their finances more effectively.
Debt Collectors: Can They Threaten Legal Action?
You may want to see also
Explore related products
Lexington Law's legal troubles
Lexington Law is a well-established company in the credit repair industry, founded in 2004. It offers a range of services to help clients repair their credit, including identifying and disputing inaccurate negative items on their credit reports, such as late payments or collections. While the company has received positive testimonials from satisfied customers, it has also faced legal troubles and complaints about the ineffectiveness of its services.
In terms of legal troubles, Lexington Law was involved in a case with the Consumer Financial Protection Bureau (CFPB) and was found to have engaged in unfair practices in violation of the Consumer Financial Protection Act of 2010 and the Telemarketing Sales Rule. The court concluded that the company illegally charged upfront fees and engaged in deceptive advertising for its credit repair services. As a result, a $2.7 billion settlement was reached between the CFPB and a group of companies, including Lexington Law and CreditRepair.com, with refunds being distributed to affected consumers.
Additionally, Lexington Law settled with the Minnesota Department of Commerce amid allegations of operating without proper state registration. This further highlights the legal issues faced by the company.
It is important to note that, as with any credit repair service, Lexington Law cannot guarantee improvements in credit scores. Credit repair is a joint effort between the company and the consumer, and individuals must continue to practise good financial habits to see lasting improvements in their creditworthiness.
While Lexington Law has faced legal troubles, it continues to operate and provide credit repair services to its clients. The company's legal team and expertise in consumer protection laws are often cited as strengths that help them navigate legal challenges. However, prospective clients should be aware of the company's past legal issues and make informed decisions when considering their services.
Full-Time Judges: Can They Practice Law Simultaneously?
You may want to see also
Frequently asked questions
Lexington Law is a credit repair firm that has been in operation since 2004. The company offers a range of services to help clients address inaccurate or questionable items affecting their credit score.
Lexington Law uses a proven process to help clients repair inaccurate and unfair negative items on their credit reports, such as late payments or collections. The company provides a free credit assessment and creates a plan to target the negative items affecting the client's credit score. They then send correspondence to dispute and challenge these items with the three major credit bureaus.
Yes, Lexington Law has a long track record of success, and many clients have seen improvements in their credit scores while using their services. However, it's important to note that credit repair is a joint effort, and clients must continue to pay their bills on time and use credit responsibly to see lasting improvements.
Lexington Law has a team of lawyers, paralegals, and credit repair experts who guide the credit repair process. They provide personalized strategies, challenge inaccurate information with credit bureaus, and offer creditor intervention letters. The company also offers a variety of service levels and provides monthly reports on their progress.
Some reviews mention that Lexington Law's services did not improve their credit score, and there have been legal complaints and lawsuits against the company. Additionally, Lexington Law does not offer a money-back guarantee, and there may be concerns about the high cost of their services.
![Score: A Film Music Documentary [Blu-ray]](https://m.media-amazon.com/images/I/81cVypZ37zL._AC_UY218_.jpg)
![Score: A Film Music Documentary [DVD]](https://m.media-amazon.com/images/I/612vc2xheLL._AC_UY218_.jpg)
