cancel
Showing results for 
Search instead for 
Did you mean: 

Lexington Law vs Blue Sky

tag
Superman85
Regular Contributor

Lexington Law vs Blue Sky

I've been wrecking my brain trying to decide what the best credit repair company to use us. My Fico score is currently 543, I have 7 delinquencies or collections if you will totalling $7,600, 4 total late payments on 3 separate accounts, I have not debt aside from a furniture credit line of $980 and my car note which only has $4,000 left before it's paid for.

I know what I can do on my own to add positives to the account which is get a couple secured credit cards, but tackling the negatives on my account is where I'm leaning towards a credit repair company.

The (2) main collections I want to remove is a lease broken which is totalling $1,900 from 2009. And another lease broken in collections totalling $3,900 from 2011.

My goal is to buy a house around October of next year so if I'm going to do anything I know this is the time to start. Just don't know if I should tackle this myself or use a credit repair service like Lexington law or blue sky.

Thanks for your help in advance!
Message 1 of 10
9 REPLIES 9
elbori357
Regular Contributor

Re: Lexington Law vs Blue Sky


@Superman85 wrote:
I've been wrecking my brain trying to decide what the best credit repair company to use us. My Fico score is currently 543, I have 7 delinquencies or collections if you will totalling $7,600, 4 total late payments on 3 separate accounts, I have not debt aside from a furniture credit line of $980 and my car note which only has $4,000 left before it's paid for.

I know what I can do on my own to add positives to the account which is get a couple secured credit cards, but tackling the negatives on my account is where I'm leaning towards a credit repair company.

The (2) main collections I want to remove is a lease broken which is totalling $1,900 from 2009. And another lease broken in collections totalling $3,900 from 2011.

My goal is to buy a house around October of next year so if I'm going to do anything I know this is the time to start. Just don't know if I should tackle this myself or use a credit repair service like Lexington law or blue sky.

Thanks for your help in advance!
You can try get those remove yourself. check the Statute of limitation for your State. Perhaps you can request early deletion if those accounts are still within your State SOL. I'm not sure if any of those companies can do something other than what you could do yourself for free.
Hopefully someone with more experience on this topic can bring more information to you.
Good luck  
MyFico Pull: TU 838 EFX 841, EX 840. (14 Aug 2020) House Mortage $305k, Car Lease $60,000, AMEX ED 33,000, NFCU Signature Visa $68,000, Lowes Visa 25,000, Cap One Venture $48,000, Navcheck $15,000, Barclay WEMC Arrival+ $41,000, Cap1 Quicksilver Visa $12,000, Chase Sapphire Preferred 15k, Best Buy $19,800, . Overall Util. 2%
Message 2 of 10
pizzadude
Credit Mentor

Re: Lexington Law vs Blue Sky

 

Be aware that most of these credit repair companies simply dispute everything on your reports, and if you are going to be looking to purchase a house in the near future you'll need to have all dispute comments removed from your reports.

March2010 FICO® ~ 695 TU, 653 EQ, 697 EX
Message 3 of 10
RobertEG
Legendary Contributor

Re: Lexington Law vs Blue Sky

The support for any dispute you may make must come from your records.  No credit repair organization can substantiate your dispute.

 

Once you have all of your documentation, the actual dispute is packaging.

 

How you package your dispute is also a consideration.  You can handle by way of filing your dispute through the CRA, or can send your dispute directly to the furnisher of the disputed information.  When documenation and supporting arguments are important in your dispute, as will apparently be the case with your issue, it is critical that you are assured that all of your documenation and arguments are received by the furnisher.

When disputes are filed via a CRA, you are not assured that all of your documentation and arguments willl be forwarded to the furnishr by the CRA.

They use their electronic e-Oscar system to forward the dispute, which notoriously does not include all of your supporting information.

 

Which brings my to the point.... I advise filing a direct dispute.

Credit repair organaizations are barred under FCRA 623(a)(8) from filing a direct dispute on behalf of a consumer.

The can only assist in filing disputes via a CRA.

 

The prohibition against credit repair organization participation in the direct dispute process is stated even more stringently in the implementing regulations for the direct disptue process (16 CFR 660.4).  Those regs add the provision that if there is any indication that a direct dispute filed by a consumer even used forms provided by a credit repair organization, it can be dismissed without investigation.

 

If your use of a CRA is based on the assumption that they are particularly valuable when disputes are involved in your repair, you might rethink that assumption.

They can be a hindrance by removing the ability to use the direct dispute process, and thus obtain its benefits.

Message 4 of 10
Superman85
Regular Contributor

Re: Lexington Law vs Blue Sky

I think for me is where do I start? Whats the type of letters I should send out first? Goodwill letters? Direct Dispute? Im lost...

Message 5 of 10
Shogun
Moderator Emeritus

Re: Lexington Law vs Blue Sky

I'm on my ipad, so my typing is a little off.  

 

First, make 2 lists of your debt.  Paid and unpaid.

 

for the unpaid, start with GWs,  I've had good success with them.

 

for the unpaid, if you have the money saved, try for PFDs first, if they won't go for it, then pay and GW.

Starting Score: 504
July 2013 score:
EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013
Goal Score: All Scores 760+, Newest goal 800+
Take the myFICO Fitness Challenge

Current scores after adding $81K in CLs and 2 new cars since July 2013
EQ:809 TU 777 EX 790 Now it's just garden time!

June 2017 update: All scores over 820, just pure gardening now.
Message 6 of 10
hahayepyep
Regular Contributor

Re: Lexington Law vs Blue Sky

I was on the brink of using a CRO last December.  After reading through these forums I gained the confidence to do it myself and saved a TON on money (CRO wanted $1400 in advance for a year of services).  In 5 months of working my butt off with the advice found here and on other forums, my EX went up over 140 pts.

 

As everyone else is saying, a CRO can't do anything for you that you can't do yourself (not to mention there are things you can do that they can't do for you).  Seriously rethink how a CRO fits into what you're trying to achieve.

 

You can do this on your own!

My credit repair journey started in December 2013 with an EX of 568.
Oct 2014: 715EQ (myFICO)

Message 7 of 10
Superman85
Regular Contributor

Re: Lexington Law vs Blue Sky

Do you guys know where I can find sample letters?

Message 8 of 10
AzaleaB
Established Contributor

Re: Lexington Law vs Blue Sky


@Superman85 wrote:

Do you guys know where I can find sample letters?


Right here! Search the forum. I did this before I even joined the forum - I looked for examples of GW and PFD letters, specific companies I had problems with and also how to dispute with the CRAs. Look for successful GWs, PFDs, etc. I also considered going to one of the credit repair places but found this forum to be the best asset.


Starting Score: EX:570, 8/2011
Current
Scores(8/30/18):
EX08:850; EQ08:850,
TU08:847
Inqs(12 mo): EX/0, EQ/0, TU/0
Goal Scores: 800+
My Cards: BoA Rewards: 30K, Discover IT: 50K, Arrival : 13.3K, CDP: 30.1K, Amex PRG, Amex ED: 22.5K, Amex BCP: 20K, FU: 21K, CSR: 35K, Amazon Store: 20K, Macys:10K, Diners Club:40K
Message 9 of 10
RobertEG
Legendary Contributor

Re: Lexington Law vs Blue Sky

The very first issue I would address is whether there are any inaccuracies in your currrent CR.

Those are the focus of disputes.  You must have a basis for assertion of an inaccuracy in order to dispute.

Yes, there are form letters for disputing that are available.  However, first step is to identify a basis for any dispute of accuracy in reporting.

 

Next, in my opinion,  would be to attempt the removal of major derogs, which are a major scoring factor.

The normal process is to offer payment of the debt in exchange for credit report deletion of the derogs (PFD).

Can you offer to pay the two collections in exchange for their deletion?

 

Additionally, in many mortgage app processes, the lendor may require payment of any unpaid delinquent debt, regardless of score.

Those seem to represent both a major score drag, and potential for problem in a mortgage app process.

Message 10 of 10
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.