Are you suffering from poor credit? You are not alone. According to Motley Fool, 1 in 5 consumers have a very poor credit score. This can be for various reasons but if you believe that your credit report may have inaccuracies, hiring a credit repair service to help get your credit back on track may be a good idea.
What Is Credit Repair?
Credit repair involves disputing inaccurate information on your credit report with the credit bureaus. This may sound pretty straightforward, but unless you have a very simple case, it can be labor intensive and time consuming to handle the process on your own. For this reason, many people opt for hiring a credit repair company like Lexington Law.
Who Is Lexington Law?
Headquartered in Utah, Lexington Law has been in the credit repair business since 2004. With over 16 years experience in this space, they have garnered a reputation as one of the best credit repair companies out there. Their staff of experienced lawyers and paralegals are trained in all aspects of consumer advocacy and credit law. This is one of the major features that sets this firm apart from other credit repair companies. Their extensive knowledge in credit law has allowed them to successfully repair thousands of consumer credit reports.
At the end of the day, their goal is to help clients take charge of their credit and achieve their financial goals. Since 2004, they have successfully challenged over 180 million items with the credit bureaus. In 2019, they were able to remove over 1.5 million negative items from clients’ credit reports. Aside from these impressive stats, Lexington Law has thousands of positive reviews from satisfied customers. Click here to read a full review of Lexington Law.
What Is The Credit Repair Process With Lexington Law?
When you sign up for their services, you will be assigned a dedicated representative. They will start off by obtaining your credit reports from the three major reporting agencies (Equifax, Experian, and TransUnion). They will then go line by line through your report looking for questionable items that may be bringing down your credit score. If they find any, they will begin drafting letters of dispute for the credit bureaus. From that point on, they will remain in contact with the bureau until the issue is resolved.
During the entire process, you will have access to experts for any questions you have regarding the dispute or your credit in general.
How long does credit repair take?
There are no guarantees with credit repair nor is there a set timeframe for how long it will take to repair your credit. Every credit situation is unique with some being more simple to resolve while others may take months. With that being said, they have helped hundreds of thousands of people each year to repair their credit. On average, it takes about six months to see a resolution. If your credit situation is not as involved, some people may see results in as little as 90 days.
What are Lexington Law’s Service Plans
Lexington Law offers three plans that support different needs. The prices may seem high but better credit means potentially saving you thousands down the line. In addition, not everyone needs the premier plan either. The best plan for you will come down to your unique credit situation.
Is Lexington Law Worth The Money?
Poor credit costs consumers thousands of dollars every year. Your credit can affect everything from getting approved for a loan to whether you get approved for an apartment rental. Not to mention those interest rates. Poor credit means you are receiving a much higher interest rate than someone who has good credit. So is credit repair worth your money? If you have inaccuracies on your report, hiring a company like Lexington Law could be one of the best things you can do for your finances. As your credit gets back into good standing, you will reap the benefits in the long run as you potentially save thousands of dollars.