Lexington Law Credit Repair Review

If you ’ ve ever researched citation repair companies, you ’ ve probably listen of Lexington Law. One of the largest recognition repair services in the state, the company has helped remove more than 56 million negative items since its initiation in 2004. But more recently, Lexington Law has become the target of government action with a lawsuit that claims the company engaged in deceptive practices. To find out what this means for customers thinking about signing up with Lexington Law, we performed an in-depth review of the company ’ south services, price, terms, and repute .

Pros Explained

  • Highly rated smartphone app: Lexington Law’s smartphone app gets outstanding ratings from customers.
  • Free consultation: New customers can get an online consultation free of charge. The service includes a credit score check, report summary, and expert recommendation.
  • No initial work fees: Unlike most competitors, Lexington Law doesn’t charge customers an upfront fee.
  • Three plan levels: Choose from a selection of plans to find the service and price that works for you.
  • Credit monitoring available: Two of Lexington Law’s three credit repair plans include credit monitoring at no additional cost.

Cons Explained

  • High monthly fees: Lexington Law’s cheapest plan costs $89.95 per month, which is far from affordable for most customers. If you want the most premium package, you’ll have to pay $129.95 per month.
  • Large volume of complaints: The company has been named in 7 CFPB complaints.
  • Alleged legal violations: In 2019, the CFPB filed a lawsuit against Lexington Law for allegedly charging illegal fees and using deceptive sales practices.
  • No money-back guarantee: It’s fairly common for credit repair companies to issue customers a refund if no items are successfully removed from their report, but Lexington Law doesn’t offer one.
  • Unavailable in two states: Residents of North Carolina and Oregon aren’t able to sign up for services with Lexington Law.

Types of Services

Lexington Law groups its services into three packages, ranging from basic accredit compensate to more bounty options. This plan structure ensures customers merely pay for the services they need. Those with fairly straightforward needs can choose a cheaper plan, while complex cases are able to purchase more in-depth aid .

Concord Standard

Lexington Law ’ s entry-level package, Concord Standard, covers the essentials of credit animate. While it ’ s the most bare-bones choice from Lexington Law, the plan actually comprises the full range of services offered by some smaller credit compensate companies .
The Concord Standard plan covers two services : credit disputes and creditor interventions. During the credit dispute serve, Lexington Law will identify errors on your credit report and publish requests to the credit chest of drawers to have those items removed. Creditor interventions are versatile types of commensurateness the party can send on your behalf directly to lenders and collection agencies .
common examples of creditor interventions are grace letters and debt establishment letters. Goodwill letters ask the lender to stop reporting a belated requital if you have an otherwise on-time payment history. Debt validation letters solicit proof that you actually owe a debt you believe to be invalid .

Concord Premier

Concord Premier, the mid-level plan, includes the credit repair basics covered under the Concord Standard plan plus a few extra services. With this software, Lexington Law will dispute hard inquiries on your report that shouldn ’ deoxythymidine monophosphate be there. You ’ ll besides receive a credit score analysis and ongoing recognition monitor with alerts any meter your score changes .

PremierPlus

Lexington Law ’ mho premium package, PremierPlus, encompasses not equitable accredit repair but extra fiscal services that may be helpful. build on the lower-level plans, this package besides includes cease and abstain letters, which the company can send to creditors to stop collection efforts like intrusive earphone calls. PremierPlus besides grants access to a FICO® grudge tracker and fiscal planning tools, both of which are accessible via the Lexington Law app. ultimately, identity larceny protection is besides included .
Getting endless calls from solicitation agencies can majorly disrupt your daily life, so it ’ mho easy to see why end and abstain letters would sound attractive. But before proceeding with this path, you should be aware of the potential consequences. once a creditor runs out of ways to contact you, they may proceed directly to suing you over the unpaid debt .

  Concord Standard Concord Premier PremierPlus
Credit disputes
Creditor interventions
Hard inquiry disputes  
Credit score analysis  
Credit monitoring and alerts  
Cease and desist letters    
Personal finance tools    
FICO® score tracker    
Identity theft protection    

optional Add-Ons

aside from its three design offerings, Lexington Law doesn ’ thymine sell any optional add-ons. All services the company provides can only be purchased within a software .

Customer Service

In the customer military service world, Lexington Law stands out from the rest of the industry with a highly rated smartphone app. The app receives outstanding reviews, garnering an average 4.8-star rat in Apple ‘s App Store and 4.5 stars in the Google Play store .
Representatives are well accessible, with telephone lines open 12 hours every weekday from 7:00 ante meridiem until 7:00 post meridiem MST. Email avail is besides available, and the company is highly responsive on sociable media platforms like Meta. however, no populate old world chat service is offered .

company reputation

While Lexington Law ’ s customer service looks outstanding on paper, customers don ’ t tend to agree. The company has accumulated 7 mentions in the Consumer Financial Protection Bureau complaint database. The details of these complaints are widely varied, although many mention specific promises the ship’s company made that failed to materialize .
The Credit Repair Organizations Act makes it improper for credit compensate companies to make any specific promises to customers. If a caller claims that they can boost your score by a certain number of points or achieve results in a particular amount of time, the best course of carry through is to walk aside and find a more reputable servicing. likely as a result of investigating these customer complaints, the CFPB filed a lawsuit against Lexington Law in 2019. The become alleged that the ship’s company had used “ deceptive selling tactics ” to attract customers and charged “ unlawful fees ” by collecting payments before services had been rendered .

contract duration

Lexington Law does not ask customers to sign any long-run contracts. Services are charged on a monthly basis and can be canceled anytime by contacting customer service. According to the company ’ second web site, most customers need an average of six months to complete the credit repair process .

cost

Lexington Law lists no initial oeuvre fee, something most competitors charge for the beginning phase of the citation challenge process. monthly fees start at $ 89.95 for the Concord Standard plan, while PremierPlus costs $ 129.95. The price for the middle plan, Concord Premier, is $ 109.95 .
These fees are significantly higher than diligence averages, peculiarly the lower-level Concord Standard choice that includes relatively few services. however, you should take the absence of upfront fees into circumstance. These can much exceed $ 100 with other credit repair companies .

  Concord Standard Concord Premier PremierPlus
Monthly fee $89.95 $109.95 $129.95

The competition : Lexington Law v. The Credit Pros

To see how Lexington Law ’ s monetary value social organization compares to other recognition rectify services, we put it up against The Credit Pros, a rival that advertises lower monthly costs but charges high initial bring fees .
The Credit Pros ’ entry-level plan costs $ 119 upfront and $ 69 per month for ongoing overhaul. Assuming an average servicing period of six months, this design would cost $ 533 total. Lexington Law ’ s cheapest plan would be equitable a few dollars more— $ 539.10 over the same six-month menstruation .
Looking at the specific services included in these two plans, however, The Credit Pros is a much better value. In addition to credit disputes and creditor interventions, the company throws in recognition monitor, fiscal plan tools, and identity monitoring, all of which are only available from Lexington Law with upgrade packages .

  Lexington Law The Credit Pros
Year founded 2004 2009
Services offered Credit repair, monitoring, identity theft protection, financial planning Credit repair, monitoring, identity theft protection, financial planning
Customer service touchpoints Phone, email, mobile app Phone, email, client portal
Upfront fee $0 $119 to $149
Monthly fee $89.95 to $129.95 $69 to $149

verdict
Lexington Law excels at putting a bright confront on credit repair, offering a seamless digital experience through a top-rated smartphone app. But equitable as you can ’ t judge a bible by its cover, you shouldn ’ t evaluate a credit rating animate company by its app store evaluation. Between Lexington Law ’ s high prices and concerning legal troubles, we ’ d have a hard time recommending it over some of the better credit repair options out there. Sign Up immediately

How We Review Credit Repair Companies

few industries have equally checkered a repute as credit repair. We review these companies with a highly critical eye, comparing the quality of services against advertised prices to give you an honest, unbiased impression. high volumes of complaints and/or a history of legal action are both considered major crimson flags among credit repair companies .
Learn more: Read our full Credit Repair Review Methodology here .

reservoir : https://www.peterswar.net
Category : Finance

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