How Does Lexington Law Fix Your Credit?

By  //  June 23, 2021

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Lexington Law is one of the biggest names in the American credit repair industry. This provider has been around for almost two decades, and it has the highest-rated app for customers. Like rivals, this firm offers to raise your score if it is affected by unfair assessment. But how exactly does this work?

According to the latest Lexington Law review, the key strength of this company is its lawyer-driven procedures. The firm has a team of experienced paralegals who liaise with national bureaus and lenders on your behalf. Here is an overview of the services.

Three Service Levels

Like most providers, the company offers three tiers for basic, moderate, and aggressive repair. The more expensive the package — the more additional services it includes. Every consumer should choose an option depending on their needs. 

The cheapest package (Concord Standard for $89.95 a month) includes creditor interventions and disputes. Concord Premier is the middle option — for $109.95 a month, you get TransUnion alerts, score analysis, ReportWatch (personal coaching), and InquiryAssist (tools for identification of reporting errors). 

The Advanced plan priced at $129.95 gives even more options. In addition to the bundle of Concord Premier, you get a FICO Tracker, protection against identity theft, and tools for personal budgeting.

How Does Fixing Work?

Every case goes through four key stages. The core services are similar to those of competitors. The company will obtain your reports, analyze them, and dispute the errors.

Obtaining the Reports

Experts always consider reports from three major nationwide bureaus. They look at data from Experian, Equifax, and TransUnion. The agencies do not share data with one another, while your lenders may communicate with any of them.

1. Meticulous Analysis

Once the reports are collected, the team gets down to business. They identify any inconsistencies in the documents. Some errors are more damaging than others, so the flaws are also prioritized. For example, mistakes in your history of payments affect 35% of FICO. This is the single most influential component of the evaluation. 

2. Preparation of Evidence

At this stage, the legal experts liaise with your lenders to establish the truth. They collect evidence like bank statements and other official documents. This proof must be submitted to bureaus along with the dispute letters. 

3. Formal Disputes

Finally, based on the prior analysis and investigation, the staff creates dispute letters to the bureaus involved. In difficult cases, all three reports are tainted, so all three agencies must be contacted. As a rule, this correspondence is sent by certified mail, so you have evidence of the exchange and know exactly when a reply is expected. 

Sometimes, the bureaus request additional information. In this case, the staff will escalate the disputes. Throughout the entire process, you can track it via the company’s app. Afterward, the team will report on the changes and provide credit counseling tips.

Legal Status 

This company is based in North Salt Lake, Utah, and its history dates back to 1991. The firm opened its practice in 2004, with John C. Heath as directing attorney-at-law. The company is not accredited by the Better Business Bureau, but you can find full details on the BBB site. 

The page features all the complaints registered within the last 3 years, so you can see how the firm handles feedback. The reviews are quite mixed. On the upside, the company responds to praise and criticism alike.

How Many Points Will I Gain?

In score correction, there are no guarantees. Like any dependable provider, Lexington Law does not promise a specific increase. It gives a tentative evaluation and follows strict procedures to achieve the best results. 

Note that improvement does not come overnight. Depending on your case, it may take between 3 and 6 months. This depends on the number of errors you want to challenge. According to The Federal Trade Commission, every 5th American has some form of error in their history. It is important to check the reports regularly. 

Fix your score more often, and you will pay less in the long run. Keep track of your status by visiting my FICO or using apps like Credit Karma. You can also collect your reports for free. Until April 20, 2022, this is possible once a week on www.annualcreditreport.com.

If the Score Is Fair

Delegated fixing does not help people whose reports are in order. If the score has fallen due to irresponsible behavior, you will need to rebuild it. This requires changing your spending habits and the way you handle debt overall.

To Sum Up

Lexington Law is a well-established provider of repair services. Since 2004, it has been helping US citizens to improve their credit ratings. Aside from report analysis and disputes, the firm offers multiple services from TransUnion alerts to identity theft protection.

This company has a team of seasoned lawyers who will examine your borrowing records and dispute any errors. While the prices are not the lowest, they are also flexible. If there are just a few errors to remove, the basic package could meet all of your needs.