Lexington Law Credit Repair : A Little History
Lexington Law has been in the credit repair business since 1991. That’s over 15 years experience. This is how the company describes itself:

“Lexington Law is a group of associated independent consumer advocacy law firms focusing on credit-related issues. Each firm is owned and supervised by its respective directing attorney. Each one is a state-of-the-art law firm offering exceptional customer service. You may wonder how you can get the services of a law firm for such a low monthly rate. To provide phenomenal service at an extremely affordable price, work is completed by a team of attorneys, paralegals and legal assistants using advanced computer and web systems. And yet, when you retain a Lexington Law firm you complete a legal retainer agreement which affords you all the protections and assurances of an attorney/client relationship.”

OK, so what about the history? How did they get going in this business?

” In 1991 several lawyers and credit experts convened in Salt Lake City to evaluate the credit repair industry, an area in dire need of innovation at the time. After a number of intense discussions the group unanimously concluded that clients seeking to improve their credit would be better served by a law firm.

Lexington Law vowed to lead the way, and went on to define itself by fusing strict regulatory compliance with innovative credit improvement solutions.

Initially working out of a small office, Lexington quickly grew to occupy several floors of a downtown office building. As the Internet boomed Lexington was the first to establish a comprehensive credit resource online.”

I have tried to find another online company that has been in the credit repair business longer than Lexington and so far can’t find one. So I would have to say the last sentance above appears to be right.

Lets see what else they say about their start:

“Rather than rely on high-pressure sales tactics, Lexington chose a strategy rooted in the belief that consumers should be given full disclosure about the process and encouraged to make informed decisions on their own.

As demand for credit information surged, so did demand for its service. The firm soon added new attorneys and expanded its legal staff in order to meet the growing popularity of its program.

More than a decade later Lexington is still reshaping the industry it founded through innovative credit report repair solutions and exemplary customer service.”

I have seen quite a few testimonials in my investigation of this company and so far not many unhappy customers.

“Lexington attributes its success to cultural ethics and guidelines which every team member is asked to observe. First, remain innovative. Employees are encouraged and empowered to test new methods and ideas, even if these ultimately fail.

Second, the workplace is an arena for personal growth. Paralegals, as well as attorneys, are asked to attend seminars focusing on self-improvement. Individuals are expected to carry the values and experiences from these seminars back into the workplace.

Finally, provide outstanding customer service. While Lexington’s quality and scope of customer service remains unrivaled in the industry, the firm continues to develop new ways for improving its service based directly on client and visitor feedback.”

OK, this comes from their website, but what I will be doing is investigating as much as possible to see if I find any problems with this company. That’s what this blog is all about. We will be posting customer reviews of Lexington, both good and bad, to help you make the choice of whether or not Lexington is the right company for you.


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What is a Credit Report?

Whenever you apply for any type of credit or financing, a credit report is pulled from at least one of the three major credit bureaus. While there are hundreds of smaller credit bureaus around the country, virtually every credit bureau is affiliated with Trans Union, Experian, or Equifax. These credit bureaus collect and maintain information on the vast majority of Americans, but they are not affiliated with the government in any way. The credit bureaus are for-profit corporations that sell your personal information for money.

The credit bureaus receive your personal information through the same lenders who grant you credit. They have agreements with each of these credit grantors that require the credit grantor to inform the credit bureaus of everything that occurs in your relationship with the credit grantor. If you make a payment late, the negative credit listing is quickly reported to at least one of the three major credit bureaus and is added to your credit history.

Credit reports are not just a record of how you are currently managing your credit accounts. Credit reports are histories of everything you are doing with your credit now, and everything you have done in the past. The credit bureaus collect this information, list it on your credit report, and then sell it to credit grantors who wish to see your credit history before they decide to lend you money. The credit grantors who review your credit are especially interested in any negative credit. If you have shown any tendency to pay late, or to disregard your financial commitments in the past, then the creditors’ computers will immediately reject your application. Just like when you were in grade school, your credit report is your financial report card to the world

What Kind of Information Appears on the Credit Report?
Merchant Trade Lines These include all regular credit lines such as department store cards, auto loans, mortgages, and credit cards. If there is any history of late payment, or if the trade line was included in bankruptcy, charged off, or put into repossession, the listing will be considered negative by all credit grantors.

Collection Accounts When an account is referred to collections because of delinquency or because of a bad check, this appears on the credit report as a collection account. Collection accounts can appear as paid or unpaid accounts. Any type of collection account, whether paid or not, is considered very negative by all credit grantors.

Public Records Public records include bankruptcies, judgments, liens, satisfied judgments, and satisfied liens. All court records, including satisfactions, are considered negative by all credit grantors.

Inquiries Every time a potential credit grantor looks at your credit file, a credit inquiry appears on at least one of your credit bureau reports. If the number of inquiries is very few over the last two years, then there may be no negative effect on your credit worthiness. However, if there are many recent inquiries showing on your credit report, credit grantors may become nervous and deny you credit.

Can credit repair companies guarantee results? Not a chance! No credit repair company is so good that it can guarantee a specific outcome. It would be like a defense lawyer guaranteeing that the jury will find his client innocent. Guarantees are a sure sign of credit repair fraud. A warranty, where the credit repair company promises a refund if certain results don't occur, is a better, more realistic claim.

So does Lexington Law guarantee their results? No, they do not. But, they do guarantee that they will significantly improve your credit report or they will refund a portion of the fee you have paid. This is determined by the total number of negative items that were on your report to start and the total number of the negative items they are able to remove. In short, they have a vested interest in improving your credit report.

Not surprisingly, the credit bureaus have declared war against the credit repair companies and those selling instruction on how to do-it-yourself. The bureaus lambaste credit repair companies in the media and send anti-credit repair literature to anyone whom they suspect of using credit repair services. The bureaus unflinchingly deny that accurate information can be removed from a credit report.

The simple truth is that you do not have to endure bad credit for seven to ten years as long as you feel comfortable challenging the accuracy or verifiability of your credit listings. If so, it is possible to restore creditworthiness within a much shorter time.

However you decide to address your credit challenges, realize that regardless of what you may hear in the news media, thousands before you have sought help and restored their credit. They can show you their homes, cars, and credit cards. Despite the newspaper articles, TV reports, and other credit bureau propaganda to the contrary, the simple truth remains: you can restore your credit.

Top Lawyers in Lexington




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Lexington Law Credit Report Repair


Lexington Law is the largest and most trusted credit report repair firm in America. In over 15 years of practice, Lexington Law has helped more than 300,000 clients clean up their credit reports. nce you sign up for our service and forward your credit reports to us, all you have to do is let us know which items you would like to dispute. We then pull from our vast arsenal of strategies and interventions to attack those items in the most effective way. Lexington Law has become the trusted leader in credit report repair because we believe in our work and we're committed to our clients' success. That, coupled with our exceptional knowledge and experience in the credit repair industry, has allowed us to achieve amazing results that have literally turned our clients' lives around.



Start repairing your credit today quickly and legally Lexington Law – The Trusted Leaders in Credit Report Repair. Lexington Law has helped more than 300,000 clients clean up their credit reports.


Legal Bankruptcy Repair

Drowning in debt
1 in every 72.8 households declared bankruptcy in 2003, a rate that has nearly doubled over the last ten years. Financial experts blame this increase on the growth of consumer debt in relation to several years of economic recession. In other words, consumers with less money available continue to meet their family's financial needs through credit. Is it any wonder many consumers have found themselves literally drowning in debt?




Bankruptcy, an option?
Although bankruptcy provides financial and emotional relief, the resulting black marks on credit reports can continue to haunt consumers for up to ten years. Future creditors view negative listings as a signal that the borrower could not manage their money. This isn't always the case. Sickness, job loss, or other unexpected emergencies can take their toll on a family budget already stretched to the limit.




The Credit Bureaus' dirty secret
Bad credit isn't just embarrassing; it's expensive. Each year consumers with less than perfect credit are forced to pay thousands of dollars more in interest rates for such necessary purchases as cars and homes. This is particularly unfair if the information on their credit report is wrong. According to a June 2004 study by the consumer advocacy group, U.S. Public Interest Research Group (U.S. PIRG), as many as 79% of credit reports have errors - 25% of which are serious enough to potentially result in a credit denial. More than half of the reports had information that was either outdated or belonged to someone else.




It's your right
Disputing items on a credit report is a consumer's explicit right under the Fair Credit Reporting Act (FCRA.) Credit report repair is as legal as pleading "not guilty" in a court of law. It is entirely within an individual's right, and the freedom to do so is protected by law. However, contacting all three major credit bureaus and dealing with the hassles, red tape and follow through, can be frustrating and time consuming. For many consumers, hiring an experienced credit report repair firm is the wise solution. Unfortunately, credit report repair, like other financial service companies, have their share of inexperienced or even dishonest firms. Before choosing a credit repair expert, it is important to know who you are dealing with.



Choosing a Bankruptcy Attorney

Bankruptcy Attorney & Consultation
Hiring a good attorney to assist you with your bankruptcy can make a difficult situation less stressful. Here are some tips to help you choose an attorney and prepare for your consultation:



Choosing a Bankruptcy Attorney



Just like doctors or insurance agents, many attorneys specialize in a particular legal field. A lawyer who works mainly in the area of bankruptcy will have the most expertise and up-to-date information.



Telephone Book



The yellow pages usually lists local attorneys under the subheading of bankruptcy. This will help you find a lawyer located near your home or office.




Referrals



If you've used an attorney in the past, ask them for a referral to a good bankruptcy lawyer. Friends and family can be a source for recommendations. You can also check the American Board of Certification (the national certification board for bankruptcy and creditors' attorneys) on the Internet.




Consultation



After finding a few promising firms, make appointments for initial consultations. There's nothing like one-on-one interviews to get a feel for an attorney.




Preparation



Once you've chosen a bankruptcy attorney, expect to pay anywhere from $500 to $1500 for their services, depending on your area. Some firms will make payment arrangements, but most prefer to collect the full amount prior to going before the bankruptcy trustee. Once a bankruptcy is filed, all credit legal action as well as harassing phone calls will cease. Therefore, it makes sense to bring all your applicable information with you to your initial meeting with the attorney.




The following list includes information that most bankruptcy lawyers will need:



Name Address (any previous addresses) Phone Number Social Security Number Birth Date for all filers and dependents Current Employment and past Employment History If Self Employed - Information on your business




Monthly Income and Expenses Net Income Spouse's Net Income Child Support Social Security Benefits Unemployment Spousal Support Other Income

Monthly non-Discretionary Expenses - After Bankruptcy Child Support Payments Spousal Support Payments Child Care Medical Expenses

Monthly Discretionary Expenses - After Bankruptcy Housing - rent/mortgageTaxes/fees Utilities--telephone, cable/satellite, gas, electricity, water Furniture, etc. Personal Expenses - dining, entertainment, gifts, contributions, allowances Non-recoverable Medical Expenses - prescriptions, dental Living Expenses - food, laundry, toiletries, clothing etc. Transportation Costs - car payment, repairs, maintenance, gas, public transportation Insurance Expenses - vehicle, house, life insurance




Assets - Location, Best estimate of Present Value and Information regarding: Cash/Bank Accounts Household Furniture/Collectibles Retirement Savings Plans Loans Due to You Cash Value of Insurance Policies Savings Plans/Bonds/Stocks/Shares Clothing, Medical Aids, Jewelry Estimated Tax Refund Real Estate Cars/Motorcycles (need model and serial number) Motorized Vehicles/Boat/Trailer Tools of Trade Other Assets

Liabilities List all debts, including secured debts, medical and utilities. Include name, full address, account number and estimate of amount owing. (Bring in most recent statements if available) Include any debts with you as guarantor or co-signer

General Information regarding: Assets you have sold, disposed of or transferred in the last 12 months Assets seized within the last 12 months Assets you expect to receive (money or property) within the next 12 months

Letter of Explanation



Brief written description of the reason for your financial difficulties By providing your attorney with the most complete and accurate picture of your financial situation, he or she will be able to protect your rights and provide every benefit to you that the law will allow.