Lexington law - to clear off old stuff ?

[Sk323i]

Do services like Lexington Law actually work?

I have late payments and derog notes from 3-6 years ago. Would be nice to have a company work on my behalf to get them removed.

Don’t know how much they charge but I would pay $500 bucks to have some bad marks cleaned up

[Anonymous]

OP you can do everything yourself and spending like $10.
(Mod cut-it is a violation of this boards credit repair policy to recommend a repair company. Thanks for your understanding.)

[radfam]

OP, you can literally do all of that yourself with very little money. I almost considered Lexington law too. I’m very pleased I didn’t. With a little bit of effort, I did the same things they would have done. All they will do is go through and dispute everything negative on your report, btw. Which isn’t exactly the best thing to do to begin with, unless the information is inaccurate.

[Anonymous]

And to add, the successes they have come from when a CA or OC does not validate the debt and the reporting is removed. This is unlikely to be the typical outcome, and when a debt is validated, it is "refreshed" in the eyes of the scoring algorithm, which can ding you again. Blindly disputing everything can hurt more than it helps, but that's what these "professionals" do.

There are also a LOT of reports that they only dispute one or two things a month, which only amounts to them sending off a form letter dispute and then sitting around waiting for an eventual reply. The next month, another line item or two will be disputed, and so forth. This can stretch out the process for many months, so they can bill you longer. What you spend for their "help" can be put toward debts, and you can address all derogs at the same time, which should speed the process considerably. And no matter how good or (more likely) poor the results are, you pay regardless.

Add that you what @radfam and @Anonymous stated above, and it paints a clear picture. They aren't the way to go.

[tparks5961]

Hey Sk3,

At the start of my rebuild, I researched a bit and actually did use Lexington law.  I was aware of all the "You can do it yourself" etc. posts out there.

Unfortunately, I had aboslutely no knowledge of anything.. but I had money.. I figured my time is valuable and If I can pay these guys $149.00 per month for results it would be worth it..

Last year I had 22 negative items across all 3 of my reports and a credit score in the low 500's.

After about 2 months of the recurring payment, I was familiar with their process.. and then I was able to cancel the subscription and do the rest myself.

So the bottom line is this.. If you have absolutely no knowledge of the cleanup process, and you have a little bit of money just to see what and how they do it, It will give you a good jumpstart on doing it yourself.  As the guys pointed out above, It's their policy to drag the process out for as long as possible so they can get their monthly fee..  .. Heres an example.

Lets say you have a Collection account from Tmobile listed on all 3 bureaus. This is what they may do.

Month 1  -- Send dispute letter to Transunion  (Wait more than 30 days to give you an update to extend into the next month)

Month 2  -- Send dispute letter to Experian  (Wait more than 30 days to give you an update to extend into the next month)

Month 3 -- Send dispute to Equifax  (Wait more than 30 days to give you an update to extend into the next month)

Month 4 - Give you the final report from that one company..

So up to a 4 month recurring subscription for 1 collection.. I caught on to this scheme real quick and after the second month said thanks but not thanks and cancelled. Again, it's good to get an idea of how they do it but be ready to cancel once you have a firm grasp of the process.

[satio]

Deja Vu

https://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/Credit-repair-service/m-p/5892650#M608533

[Peazmom]

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@Sk323i wrote:
Do services like Lexington Law actually work?

I have late payments and derog notes from 3-6 years ago. Would be nice to have a company work on my behalf to get them removed.

Don’t know how much they charge but I would pay $500 bucks to have some bad marks cleaned up

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Please don’t do this.  I totally understand where you are coming from, as I was in your shoes two years ago....I had lots of stuff to clean up, was totally overwhelmed and had not idea where to start.  You are one step ahead of me because I had no idea this board existed.  I went the way you are thinking.  They shotgunned disputes to everyone.  While it appeared my credit approved, it was only temporary...as soon as items were verified those derogs came back with a vengence and some even worse.  Some that had stopped updating suddenly started updating again, dropping my scores even more, and yes...they dragged the processes sending one letter per agency per month.  I wasted a ridiculous amount of money and was worse for the experience.  The last straw came when a letter they sent on my behalf was sent to a creditor at an incorrect address and returned to my home address.  I was appalled when I opened the letter and read what was written.  It was totally incoherent, as though the letter was composed by a kindergartener. 

The folks here can help you step by step.  It can keep that $500 bucks in your pocket and if you are like me, it will help to develop a deeper understanding of just what went wrong along the way.

Best of luck to you, what every you decide!

[OmarGB9]

Nope, save your money and your credit.

[Remedios]

If you're planning on taking only one advice from this forum, please make it be "Stay away from those places"

In a nutshell, they will make your credit even worse with mindless disputes that go no where and further ruin your credit

If you're wondering how come they are in business, it's because we all get desperate and are willing to try anything to get it under control. They, and others like them simply pray at those in need.