Thursday, January 20th
2022 Credit Repair Company Reviews
Lexington Law
- Cost: $89.95 to $129.95 per month, depending on the selected package
For many years, Lexington Law was the provider of choice for credit repair services. Why? With more than 27 years of experience and millions of negative items deleted from customers' credit histories every year, it's easy to see why people turned to them for credit repair.
Recent troubles
We're still of the opinion that they have something to offer when it comes to credit repair, so we'll get to their packages shortly. First, however, it's important to understand two things: their fees have nearly doubled over the last few years, which could be related to having reached a settlement in Maryland over allegations of not conducting their business properly with respect to all legal requirements within the industry. This changed their grade with the Better Business Bureau; at the time of our last review, Lexington Law enjoyed a respectable "A-", but during our most current survey of their services they were designated as "Not Rated" while the BBB reevaluates their score.
3 expensive credit repair services
Lexington Law is more expensive than many credit repair services. They have 3 tiers of service:
- Concord Standard: priced at $89.95/month, you'll get help with credit bureau challenges and creditor interventions.
- Concord Premier: priced at $109.95/month, your service adds credit score analysis, help with confronting unfair credit score damage (InquiryAssist), coaching on how to address credit report changes when they happen (ReportWatch), and daily monitoring of your score at TransUnion.
- PremierPlus: priced at $129.95/month, this top level of service also includes Lexington sending cease and desist letters in your behalf, tracking your FICO score, identity protection services, and personal finance tools.
Varying customer reviews
With what they charge, is Lexington Law effective at helping people improve their credit history? As you'd expect with such a large business, the reviews are mixed. Most credit repair services are criticized for not making noticeable improvements in less than two months, but that's to be expected. But, Lexington seems to have a higher-than-average number of people who say that they didn't get prompt responses from company reps, not just that their reports didn't improve quickly. On the other hand, we found numerous people saying that their credit scores improved dramatically as they stayed with the service, usually for six months on average.
Lexington Law's track record within the credit repair industry has helped keep them afloat, but their higher pricing and troubles with their BBB rating have dropped them to the middle of the pack compared with the competition.
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Who's the Best Credit Repair Company?
Most Americans know that a good credit score and credit history are important. That one number, your credit score, can determine your ability to get a loan for school or for a car, be approved as a tenant, or to qualify for a credit card.
Unfortunately, when your credit history is less than fantastic - because of making payments after the due date, having too many credit inquiries, or even having mistaken information associated with your identity - you'll have fewer options when you need to make a major purchase. You may even have to pay higher than average rates on your car insurance or your mortgage.
Credit Repair Company FAQ
Continued from above...
Using a reputable credit repair company puts you back in control of your financial reputation. These services work on your behalf to reduce or eliminate any negative factors in your credit history, working directly with collection agencies, creditors, and even with the three primary credit bureaus. With the help of a credit repair company, you can improve your score and even put a stop to negative information being reported on your accounts. Most services take several months before you see measurable results on your credit report, so adjust your expectations accordingly.
With so many services advertised in the media and online, how can you tell if a credit repair company is reputable and effective? As you compare the various providers, here are several criteria to keep in mind:
- Reputation. What do past and current users of the credit repair service have to say about the experience? Is the company accredited and/or rated by the Better Business Bureau?
- Cost. What will you pay to fix your credit history? Should you expect a one-time fee or a monthly payment structure? How do the costs compare with other providers'?
- Guarantee. Does the credit repair service guarantee that they will improve your credit score and/or history? Can you get a refund if you are unhappy with their service for any reason?
TopConsumerReviews.com has reviewed and ranked the best credit repair companies available today. We hope this information helps you find the right credit repair program that meets your needs and gets you on your way to an improved credit history!
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