Lexington Law Review 2024

What To Expect From Lexington Law

The company’s most cost-effective package is Concord Standard, which covers negotiations with the bureaus and creditor interventions. It’s a straightforward option for users who have a particular goal in mind. 

The first credit report review is free and paves the way for further action. The company can handle a number of issues, including:

Late Payments

Every late payment you make leaves a mark on your credit score. The severity of the penalty depends on how late you are. A single late payment can hurt your score anywhere between 15 and 40 points, and these points can quickly add up.

Lexington Law evaluates your credit repair options and gives you customized solutions to help you avoid any further damage to your score. For example, the company’s attorneys might advise you to set up automatic payments or consider a goodwill adjustment request. 

They will mediate the arrangement or file a dispute with the three major bureaus: TransUnion, Experian, and Equifax.

Charge-Offs

If your payments are more than six months late, your creditor might choose to write off your unpaid debt through a charge-off. Needless to say, this leaves a huge dent in your credit score that’s difficult to polish. Your debt can be sold to a collection agency or settled through other channels.

Lexington Law will immediately dispute the negative entry. But no matter how good of a credit repair firm you hire, it won’t simply be able to delete the charge-off unless you pay the creditor. 

Collections

If your debt is sold to a collection agency, you should deal with it as soon as possible to avoid any inconvenience. The collectors will swamp you with calls and messages, or even contact people you know. So, what exactly does Lexington Law do in this situation?

The attorneys will inform you of your rights under the Fair Debt Collection Practices Act, which protects customers from being bullied by collection agencies. In addition, Lexington Law can dispute lost points on account of medical bill collections because those can’t be penalized by the new FICO score system.

Foreclosures

All elements of foreclosure can affect your credit score. Regardless of whether you try to deal with this situation through a short sale, voluntary repossession, or credit refinancing, the consequences are still there.

It’s important to remember that even if you settle your debt, it will still appear on your credit report. If your score was higher to begin with, you will suffer a more significant drop.

Judgments and Liens

Because of changes made by the credit bureaus, judgments and liens have been among the most disputed in the past few years. According to the new rules, all credit reports need to include the name, address, Social Security number, and date of birth. 

Lexington Law examines your score and can challenge all incomplete reports. In addition, the bureaus verify the validity of all the information provided every three months. If there is a mismatch, the judgments or liens are automatically dismissed.

Bankruptcies

It goes without saying that bankruptcies wreak absolute havoc on your credit score. But Lexington Law’s team of experts can help by creating a customized recovery plan while taking your bankruptcy into consideration.

Additional Services

If you are interested in more advanced plans, Lexington Law offers a number of specialized services.

Concord Premier

This advanced package is considered to be a moderately strong credit repair tool. Among the credit repair features are some of the identity theft perks and financial tools, more of which are available with the Premier Plus plan. The popular features are:

• Credit score analysis: Lexington Law takes five credit factors into consideration and provides you with a detailed, personalized report every month.
• Inquiry assist: A collection of legal tools made specifically for handling credit score problems.
• Report watch alerts: In addition to offering its legal services, the company will also teach you how to deal with credit report changes as they occur.

Premier Plus

Among many other perks, the most expensive plan adds lost wallet protection, junk mail reduction, and six months of creditor interventions.

• TransUnion FICO score tracker: The company tracks your FICO score, based on TransUnion data.
• Identity protection: Although this particular feature isn’t directly related to credit repair, Lexington Law includes identity protection in its premium package. You get alerts about any potential fraudulent activity involving your name online.
• Personal finance tools: The company's personal finance manager is both efficient and reliable in helping you map out your payments.

Lexington Law Price and Guarantees

The first one on the list of plans is Lexington Essentials, at $59.95 per month, providing the most basic services but well worth the investment.

Concord Standard, which costs $99.95 per month, comes with a free report. After the company reviews your case, it will inform you what additional steps need to be taken.

The next plan is called Concord Premier and costs $119.95 per month. This is a more hands-on approach to the credit repair process, with score-tracking options and a set of legal tools. The plan is tailored to slightly more advanced users who want to learn about the service and ways to respond to potential threats. 

Although there are no guarantees with any credit repair process, Concord Premier might be the best deal on offer.

The most robust plan is called Premier Plus and will cost you $139.95 per month. For this price, Lexington Law checks your credit, helps you get collection agencies off your back, and keeps track of your FICO score at all times. 

Due to the identity protection service and personal finance tools, numerous customers have found the relatively high price to be justified. 

You can cancel your subscription at any point if you’re not satisfied with the service. However, there is a lack of transparency in the cancellation process, and some customers claim that the refund policy is open to interpretation, which can be problematic for someone trying to reclaim their money.

Lexington Law Speed of Service 

Lexington Law resolves an average of 10 derogatory items every four months. Most of the company’s clients stick around for about six months.

The Bottom Line

The most important takeaway here is that Lexington Law actually works. We can safely say that the less-than-impressive reviews on BBB can be disregarded, as the efficiency of the credit repair process has been proven in numerous cases.

That said, the company still seems to be having issues with billing and refunding. And while the accreditation from the BBB isn’t essential, it’s helpful in establishing a loyal community of users.

Overall, we would recommend Lexington Law for the quality of its services, but also advise you to collect as much information as possible from the company’s representatives before signing up for any of the plans offered here.